IDEAS home Printed from https://ideas.repec.org/a/eee/joecas/v19y2019ic2.html
   My bibliography  Save this article

Aggregate production and macroeconomic dynamics: Evidence from European economies

Author

Listed:
  • Laopodis, Nikiforos T.
  • Papastamou, Andreas

Abstract

Industrial production index returns, the stock market and sovereign bond yields are simultaneously examined for selected European countries from 2000 to 2018. In general, we document absence of long-run dynamics (linkages) across countries' production index returns, which suggests that no single country's production index had surfaced as the leader among the other industries within Europe. VAR and Granger causality analyses indicate that industrial productions, bond yields and stock markets appear to have moved independently of each other within each country. We identify only partial asymmetries following shocks of equal and unequal magnitude and nature for some magnitudes and for some countries. Finally, examining these magnitudes' linkages during the 2007 global financial crisis and during bailout periods, we did not detect any sharp reactions to shocks, which implies that they were not statistically affected by such events.

Suggested Citation

  • Laopodis, Nikiforos T. & Papastamou, Andreas, 2019. "Aggregate production and macroeconomic dynamics: Evidence from European economies," The Journal of Economic Asymmetries, Elsevier, vol. 19(C), pages 1-1.
    • Handle: RePEc:eee:joecas:v:19:y:2019:i:c:2
    DOI: 10.1016/j.jeca.2019.e00117
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S1703494918301257
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.jeca.2019.e00117?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Urom, Christian & Anochiwa, Lasbrey & Yuni, Denis & Idume, Gabriel, 2019. "Asymmetric linkages among precious metals, global equity and bond yields: The role of volatility and business cycle factors," The Journal of Economic Asymmetries, Elsevier, vol. 20(C).
    2. Ogbuabor, Jonathan E. & Anthony-Orji, Onyinye I. & Manasseh, Charles O. & Orji, Anthony, 2020. "Measuring the dynamics of COMESA output connectedness with the global economy," The Journal of Economic Asymmetries, Elsevier, vol. 21(C).

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:joecas:v:19:y:2019:i:c:2. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: https://www.journals.elsevier.com/the-journal-of-economic-asymmetries/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.