, recent advances in the mentioned techniques are exploited, also with the aim of assessing the degree of uncertainty around … 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 …

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 …

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

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

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

compare these optimal rules against plausible alternatives. Model uncertainty is shown to be a substantial problem; the …

episodes of very high uncertainty. First, we identify episodes of very high uncertainty using a regime-switching model. Second …, we assess the behaviour of macroeconomic and financial variables during these episodes of very high uncertainty. This … markets. We find that very high uncertainty episodes are associated with a weaker growth performance and sharp declines in …

. An important feature of the model is that higher economic or political uncertainty tightens solvency constraints and …

This paper studies optimal discretionary policy with parameter uncertainty about inflation inertia. Optimal policy … in the presence of uncertainty about inflation inertia, depending on the form of the central bank’s objective function …