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Articulo
Estudios Económicos
versión On-line ISSN 2525-1295
Resumen
DELBIANCO, Fernando y FIORITI, Andrés. Empirical search and characterization of contemporaneity using breaks and regime switching. Estud. Econ. [online]. 2017, vol.34, n.68, pp. 75-91. ISSN 2525-1295.
This paper describes a technique to determine the contemporaneity of two economic events. It is also possible to determine some characteristics of the contemporaneity, as a descriptive stage previous to causality analysis and model estimations. As an illustration, a case of contemporaneity between news and volatility in financial markets is shown. The main result of the exercise is a Laffer curve relationship between corruption and volatility given news.
Palabras llave : Structural Breaks; Regime Switching; Contemporaneity and Market Volatility.