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Forecasting Euro Area Real GDP: Optimal Pooling of Information

Hülsewig, Oliver; Mayr, Johannes; Wollmershäuser, Timo - CESifo - 2008

This paper proposes a new method of forecasting euro area quarterly real GDP that uses area-wide indicators, which are derived by optimally pooling the information contained in national indicator series. Following the ideas of predictive modeling, we construct the area-wide indicators by...

Persistent link: https://www.econbiz.de/10005181446

Aggregation in Large Dynamic Panels

Pesaran, Hashem M.; Chudik, Alexander - CESifo - 2011

This paper considers the problem of aggregation in the case of large linear dynamic panels, where each micro unit is … Pesaran (2003), an optimal aggregate function is derived, and the limiting behavior of the aggregation error is investigated … which ‘observed’ inflation persistence at the aggregate level is due to aggregation and/or common unobserved factors. Our …

Persistent link: https://www.econbiz.de/10008853858

Productivity, Price- and Wage-Markups: An Empirical Analysis of the Dutch Manufacturing Industry

Amoroso, Sara; Melenberg, Bertrand; Plasmans, Joseph; … - CESifo - 2015

This paper examines the interaction between productivity growth, firms’ monopolistic market power, and workers’ wage bargaining power. Our study contributes to several strands of literatures. First, we examine a monopolistic framework which accounts for wage bargaining. In addition to the...

Persistent link: https://www.econbiz.de/10011210785

Cross-Country Relative Price Volatility: Effects of Market Structure

Cheung, Yin-Wong; Fujii, Eiji - CESifo - 2005

Using annual data on nine manufacturing sectors of eighteen OECD countries, the article studies the implications of market structure for cross-country relative price variability. It is found that, in accordance with predictions from a standard markup pricing model, reductions in market...

Persistent link: https://www.econbiz.de/10005416486