Similar Search Results

The evolution of economic convergence in the European Union

Borsi, Mihály Tamás; Metiu, Norbert - Deutsche Bundesbank - 2013

This paper investigates economic convergence in real income per capita between 27 European Union countries. We employ a non-linear latent factor framework to study transitional behavior among economies between 1970 and 2010. Our results offer important insights on the economic catch-up exhibited...

Persistent link: https://www.econbiz.de/10010984716

Forecasting using a large number of predictors: is Bayesian regression a valid alternative to principal components?

De Mol, Christine; Giannone, Domenico; Reichlin, Lucrezia - Deutsche Bundesbank - 2006

This paper considers Bayesian regression with normal and doubleexponential priors as forecasting methods based on large panels of time series. We show that, empirically, these forecasts are highly correlated with principal component forecasts and that they perform equally well for a wide range...

Persistent link: https://www.econbiz.de/10005083173

Interest rate reaction functions for the euro area Evidence from panel data analysis

Ruth, Karsten - Deutsche Bundesbank - 2004

interest rate reaction functions based on a panel including actual EMU Member States. We find that exploiting the cross …-section dimen- sion of a multi-country panel and accounting for cross-country heterogeneity in advance of the single monetary policy … panel reaction function which is demonstrated to be a valuable tool for evaluating episodes of monetary policy since 1999. …

Persistent link: https://www.econbiz.de/10005083306