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Denizer, Cevdet; Iyigun, Murat; Owen, Ann - EconWPA - 2000

-effects estimation with panel data from 70 countries covering the years 1956 through 1998. …

Persistent link: https://www.econbiz.de/10005561355

Grid-Bootstrap Methods vs. Bayesian Analysis. Testing for Structural Breaks in the Conditional Variance of Nominal Interest Rate Spreads - Four Cases in Europe

Pace, Pierangelo De - EconWPA - 2005

I use numerical methods to test for the presence of one-time structural breaks in the conditional variance of nominal interest rate spreads in four European countries over a period of eleven years (Jan 1988 to Dec 1998). I start with an intuitive approach consisting of a sequence of breakpoint...

Persistent link: https://www.econbiz.de/10005407994

What Happens After A Technology Shock? A Bayesian Perspective

Mikhail, Ossama - EconWPA - 2005

This paper investigates the effect of a positive technology shock on per capita hours worked within the class of … impulse responses of per capita hours following a positive technology shock. The marginal posteriors of the VAR parameters are … generated using the Markov Chain Monte Carlo (MCMC) Gibbs sampler. We find that the estimation of the VAR yields significantly …

Persistent link: https://www.econbiz.de/10005412608

Macroeconomic Policy in a Real Business Cycle Model with Money

Chen, Shiu-Sheng - EconWPA - 2002

cycles, however, it fails to captures some dynamic responses to monetary policy shock; (2) it is obvious, however, that …

Persistent link: https://www.econbiz.de/10005126437

Learning, Monetary Policy Rules, and Macroeconomic Stability

Milani, Fabio - EconWPA - 2005

This paper estimates a DSGE model with learning to re-examine the evidence on time variation in post-war U.S. monetary policy. Several papers document a regime switch, by showing that policy changed from `passive' and destabilizing in the pre-1979 period to `active' and stabilizing in the...

Persistent link: https://www.econbiz.de/10005126467

Debt-Constraints or Incomplete Markets? A Decomposition of the Wealth and Consumption Inequality in the U.S.

Cordoba, Juan-Carlos - EconWPA - 2004

The large wealth and consumption inequality in the U.S. is usually attributed to two market frictions: debt constraints and incomplete markets. Recent literature has argued that debt constraints are the critical friction while market incompleteness plays only a secondary role. We evaluate the...

Persistent link: https://www.econbiz.de/10005412632

Economia sintetica

Vildosola, Luis - EconWPA - 1998

Theoretical study identifying one modality with conditions necesary for the financial stabilization of an inherently unstable system; and 5040 other unstable dynamic modes. It draws on knowledge made available by the academic field of Control Engineering.

Persistent link: https://www.econbiz.de/10005125628

Inequality over the Business Cycle: Estimating Income Risk using Micro-Data on Consumption

Primiceri, Giorgio; Rens, Thijs van - EconWPA - 2002

We use CEX repeated cross-section data on consumption and income, to evaluate the nature of increased income inequality in the 1980s and 90s. We decompose unexpected changes in family income into transitory and permanent, and idiosyncratic and aggregate components, and estimate the contribution...

Persistent link: https://www.econbiz.de/10005126150

Reconciling Conflicting Evidence on the Elasticity of Intertemporal Substitution: A Macroeconomic Perspective

Guvenen, Fatih - EconWPA - 2005

, estimation from aggregate consumption uncovers the low EIS of the majority (i.e., the poor). …

Persistent link: https://www.econbiz.de/10005561340

Macroeconomic co-ordination as an economic policy concept - opportunities and obstacles in the EMU

Hein, Eckhard; Truger, Achim - EconWPA - 2004

This paper traces the euro zone’s inadequate macroeconomic performance in recent years back to the predominance of a restrictive macroeconomic policy mix based on a ‘new monetarist’ approach to economic policy. An approach based on a (post-)Keynesian analysis is presented as a growth and...

Persistent link: https://www.econbiz.de/10005126124

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