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Kalman filtering with truncated normal state variables for Bayesian estimation of macroeconomic models

Dueker, Michael (contributor) - 2005

"A pair of simple modifications to the Kalman filter recursions makes possible the filtering of models in which one or more state variables is truncated normal. Such recursions are broadly applicable to macroeconometric models that have one or more probit-type equation, such as vector...

Persistent link: https://www.econbiz.de/10003115151

Forecasting output with information from business cycle turning points : a qualitative variable VAR

Dueker, Michael (contributor); … - 2001 - [Elektronische Ressource].

Persistent link: https://www.econbiz.de/10001965117

Stochastic capital depreciation and the comovement of hours and productivity

Dueker, Michael (contributor); … - 2002 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001971164

Intermediaries and payments instruments

Bullard, James Brian (contributor); … - 2002 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001971197

The value of inside and outside money : expanded version

Bullard, James Brian (contributor); … - 2001 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001941500

Intermediaries and payments instruments

Bullard, James; Smith, Bruce D. - Federal Reserve Bank of St. Louis - 2002

We study an economy in which intermediaries have incentives to issue circulating liabilities as part of an equilibrium. We show that, with arbitrarily small transactions costs, only the liabilities of intermediaries will circulate, and not those of other private sector agents. Therefore, our...

Persistent link: https://www.econbiz.de/10005360537

A monetary policy feedback rule in Korea's fast-growing economy

Dueker, Michael; Kim, Gyuhan - Federal Reserve Bank of St. Louis - 1998

In Korea's high-growth economy, the Bank of Korea had been willing to tolerate double-digit inflation, provided that it … upper threshold of tolerable inflation for the Bank of Korea was about 20 percent. It appears that the Bank of Korea …'s disciplined, rule-like approach to monetary policy was able to control inflation and keep it away from explosive levels, despite …

Persistent link: https://www.econbiz.de/10005352822