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A system approach for measuring the euro area NAIRU

Fabiani, Silvia; Mestre, Ricardo - European Central Bank - 2001

variance of the process. The latter is derived through bootstrap exercises using the models alone or pooled together. The …, the bootstrap exercises point to confidence bands close to 1 per cent around the estimated value. JEL Classification: C11 …

Persistent link: https://www.econbiz.de/10005530711

Is the demand for euro area M3 stable?

Warne, Anders; Bruggeman, Annick; Donati, Paola - European Central Bank - 2003

JEL Classification: C22, C32, E41

Persistent link: https://www.econbiz.de/10005531005

Cross-country efficiency of secondary education provision: a semi-parametric analysis with non-discretionary inputs

Afonso, António; St. Aubyn, Miguel - European Central Bank - 2005

analysis output scores on nondiscretionary variables, both using Tobit and a single and double bootstrap procedure, we show …

Persistent link: https://www.econbiz.de/10005816218

Forecasting inflation with thick models and neural networks

McNelis, Paul; McAdam, Peter - European Central Bank - 2004

models. They outperform the best performing linear models for “real-time” and “bootstrap” forecasts for service indices for …

Persistent link: https://www.econbiz.de/10005227535

Optimism bias? The elasticity puzzle in international economics revisited

Corbo, Vesna; Osbat, Chiara - European Central Bank - 2012

main contribution is the use of bootstrap methods, which offer more insight into the Feenstra method and can explain why … researchers applying it may tend to find high estimates. The bootstrap not only allows us to obtain considerably less biased …

Persistent link: https://www.econbiz.de/10010686854

Does the Greenspan era provide evidence on leadership in the FOMC?

El-Shagi, Makram; Jung, Alexander - European Central Bank - 2013

bootstrap analysis exploits information contained in these reaction functions and constructs counterfactual distributions of …

Persistent link: https://www.econbiz.de/10010693496

Why do financial systems differ? History matters

Monnet, Cyril; Quintin, Erwan - European Central Bank - 2005

We describe a dynamic model of financial intermediation in which fundamental characteristics of the economy imply a unique equilibrium path of bank and financial market lending. Yet we also show that economies whose fundamental characteristics have converged may continue to have very different...

Persistent link: https://www.econbiz.de/10005530714

Convergence and anchoring of yield curves in the euro area

Ehrmann, Michael; Fratzscher, Marcel; Gürkaynak, Refet S. - European Central Bank - 2007

We study the convergence of European bond markets and the anchoring of inflation expectations in euro area countries …) has led to substantial convergence in euro area sovereign bond markets in terms of interest rate levels, unconditional …

Persistent link: https://www.econbiz.de/10005530722

What drives productivity growth in the new EU member states? The case of Poland

Kolasa, Marcin - European Central Bank - 2005

This paper considers productivity developments in the new EU member states and provides evidence on factors driving productivity growth in these countries, focusing on a panel of Polish manufacturing industries. Companies in Poland seem to benefit significantly from transfer of technologies that...

Persistent link: https://www.econbiz.de/10005530925

The role of fiscal transfers for regional economic convergence in Europe

Checherita-Westphal, Cristina; Nickel, Christiane; … - European Central Bank - 2009

-capita output convergence across a large sample of European regions during the period 1995-2005. We find that net fiscal transfers …, while achieving regional redistribution, seem to impede output growth and promote an “immiserising convergence”: output …

Persistent link: https://www.econbiz.de/10005002785