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Generalized Two-Step Maximum Likelihood Estimation of Structural Vector Autoregressive Models partially identified with Short-Run Restrictions

Jang, Kyungho - Econometric Society - 2004

This paper presents a generalized two-step maximum likelihood estimation method for partially identified vector …

Persistent link: https://www.econbiz.de/10005702745

Business Cycles and Macroeconomic Policy Coordination in Mercosur

Gonzalez-Rozada, Martin; Fanelli, Jose Maria - Econometric Society - 2004

Abstract: The paper analyzes cyclical comovements in the Mercosur area differentiating idiosyncratic from common shocks. In the Mercosur (or any region for that matter) shocks can be country-specific, affecting only one country or a specific set of countries (for example, a weather-related...

Persistent link: https://www.econbiz.de/10005063563

Market Institutions, Labor Market Dynamics, Growth and Productivity: Argentina

Sanchez, Gabriel; Butler, Ines - Econometric Society - 2004

This paper seeks to shed light on how manufacturing job flows and productivity in Argentina were affected during the 1990s by economic reforms in general and particularly by: a) financial shocks, b) labor reforms that change non-wage labor costs, c) trade reforms that alter tariff dispersion, d)...

Persistent link: https://www.econbiz.de/10005328896

On-the-Job Search and Business Cycle Dynamics

Lubik, Thomas A.; Krause, Michael U. - Econometric Society - 2004

returns with employers. Fewer vacancies are opened, and unemployment falls by less than is evident from the data. However …, this argument relies on treating the vacancy-unemployment ratio as the relevant measure of labor market tightness, which … less in a boom than would be suggested by the standard vacancy-unemployment ratio alone. Instead, the ratio of vacancies to …

Persistent link: https://www.econbiz.de/10005702652

Do Technology Shocks Drive Hours Up or Down?

Rossi, Barbara; Pesavento, Elena - Econometric Society - 2004

uses alternative approximations based on local-to-unity asymptotic theory and allows the lead-time of the impulse response …

Persistent link: https://www.econbiz.de/10005342192

How Large Are Returns to Scale in the U.S.? A View Across the Boundary

Lubik, Thomas A. - Econometric Society - 2004

There is considerable disagreement in the empirical macro literature as to the degree of returns to scale in U.S. production. While many studies find evidence of a small degree of increasing returns, standard errors are typically large. This issue is of importance for assessing the possibility...

Persistent link: https://www.econbiz.de/10005063709

What moves GNP?

Uhlig, Harald - Econometric Society - 2004

This paper aims at identifying the main shocks, which cause movements in real GNP. It does so by searching for two shocks in the context of a VAR model, which explain the majority of the k-step ahead prediction error variances in real GNP for horizons between 0 and 5 years. We find that two...

Persistent link: https://www.econbiz.de/10005699655

Estimating the Output Gap : A Kalman Filter Approach

Plantier, L. Christopher; Karagedikli, Ozer - Econometric Society - 2004

use the relationship between output and the capacity utilisation and output and unemployment to infer the unobserved …

Persistent link: https://www.econbiz.de/10005702552

Cyclical components in economic time series: A Bayesian approach

Dijk, Herman K. van; Harvey, Andrew; Trimbur, Thomas - Econometric Society - 2004

Cyclical components in economic time series are analysed in a Bayesian framework, thereby allowing prior notions about periodicity to be used. The method is based on a general class of unobserved component models that allow relatively smooth cycles to be extracted. Posterior densities of...

Persistent link: https://www.econbiz.de/10005702586

Reaching Inflation Stability

Moreno, Antonio - Econometric Society - 2004

Inflation volatility has significantly declined over the last 20 years in the U.S. To find out why, I follow a structural approach. I estimate a complete New Keynesian model which imposes cross-equation restrictions on the time series of inflation, the output gap and the interest rate. I perform...

Persistent link: https://www.econbiz.de/10005702688

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