This paper argues that the tradtitional way of gauging a country's fiscal policy stance by looking at government budget deficit or cyclically adjusted budget deficits is misleading in the case of China, since a lot of what usually would be considered fiscal policy is conducted via investment by...

This note describes the matching procedure used to construct panel data sets from the 1987, 1989 and 1991 Hungarian Household Budget servey samples.

The classical statistical model relates to n independent random variables having a common distribution. In this paper we consider the situation where the common distribution involves an unknown parameter, and where at time 0<t<1 only the first [nt] random variables are observed.

Diffuse priors lead to pathological posterior behaviour when used in Bayesian analyses of Simultaneous Equation Models (SEMs). This results from the local nonidentification of certain parameters in SEMs. When this, a priori known, feature is not captured appropriately, and a posteriori favour...