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Monetary and budgetary-fiscal policy interactions in a Keynesian heterogeneous monetary union
Asensio, Angel - HAL - 2006
The paper studies the effects of heterogeneity upon the monetary and fiscal-budgetary policy interactions in a Keynesian monetary union. As a result of interactions, some of our results contrast sharply with the ones in studies that consider separately monetary, fiscal and budgetary policies....
Persistent link: https://www.econbiz.de/10008792215
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The macroeconomic governance of the European Monetary Union: A Keynesian perspective
Asensio, Angel - HAL - 2005
inflation restson a consensual distribution of income. Second, authorities should abandon any "optimal rule"designed in order to …
Persistent link: https://www.econbiz.de/10008792744
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Monetary Policy and Inflation Divergences in a Heterogeneous Monetary Union
Villieu, Patrick; Gregoriadis, Nelly; Semenescu, Florina - HAL - 2006
union-wide output and (principally) inflation, neglecting, at least on the level of principles, inflation and output … in particular that it is not necessarily a good thing that a common central bank worries about inflation divergences …
Persistent link: https://www.econbiz.de/10008793725
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Does Inflation Targeting Improve Fiscal Discipline? An Empirical Investigation
Tapsoba, Rene - HAL - 2011
Based on panel data of 58 countries, of which 22 Inflation Targeters and 36 non Inflation Targeters, over the period … 1980-2003, this paper highlights the effect of Inflation Targeting – IT- on Fiscal Discipline –FD-. We make four …
Persistent link: https://www.econbiz.de/10008794278
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Which predictor is the best to predict inflation in Europe: the real money-gap or a nominal money based indicator?
Dufrénot, Gilles; Joyeux, Roseline; Peguin-Feissolle, Anne - HAL - 2008
central banks' monetary policy must be credible if the authorities want to curb inflation. A second view is that central banks … set their monetary policy by using all the information relevant for inflation and output projections. In Europe, a … controversy has emerged about the role of monetary aggregates as useful indicators of future inflation and output. On one hand …
Persistent link: https://www.econbiz.de/10008793951
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In Fisher's net : exact F-tests in semi-parametric models with exchangeable errors
Jouneau-Sion, Frédéric; Torrès, Olivier - HAL - 2014
We consider testing about the slope parameter β when Y - X β is assumed to be an exchangeable process conditionally on X. This framework encompasses the semi-parametric linear regression model. We show that the usual Fisher's procedure have non trivial exact rejection bound under the null...
Persistent link: https://www.econbiz.de/10010899337
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Pivotal estimation in high-dimensional regression via linear programming
Gautier, Eric; Tsybakov, Alexandre - HAL - 2013
We propose a new method of estimation in high-dimensional linear regression model. It allows for very weak distributional assumptions including heteroscedasticity, and does not require the knowledge of the variance of random errors. The method is based on linear programming only, so that its...
Persistent link: https://www.econbiz.de/10010821466
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INTEGRAL TRANSFORMS WITH THE HOMOTOPY PERTURBATION METHOD AND SOME APPLICATIONS
Kamdem, Jules Sadefo - HAL - 2011
This paper applies He's homotopy perturbation method to compute a large variety of integral transforms. As illustration, the paper gives special attention to the Esscher transform, the Fourier transform, the Hankel transform, the Mellin transform, the Stieljes transform and some applications.
Persistent link: https://www.econbiz.de/10008876659
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Fourth order pseudo maximum likelihood methods
Holly, Alberto; Monfort, Alain; Rockinger, Michael - HAL - 2011
We extend PML theory to account for information on the conditional moments up to order four, but without assuming a parametric model, to avoid a risk of misspecification of the conditional distribution. The key statistical tool is the quartic exponential family, which allows us to generalize the...
Persistent link: https://www.econbiz.de/10010820447
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Fourth order pseudo maximum likelihood methods
Holly, Alberto; Monfort, Alain; Rockinger, Michael - HAL - 2011
We extend PML theory to account for information on the conditional moments up to order four, but without assuming a parametric model, to avoid a risk of misspecification of the conditional distribution. The key statistical tool is the quartic exponential family, which allows us to generalize the...
Persistent link: https://www.econbiz.de/10010820956