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This short paper is a comment on ``Testing for Nonlinear Structure and Chaos in Economic Time Series'' by Catherine Kyrtsou and Apostolos Serletis. We summarize their main results and discuss some of their conclusions concerning the role of outliers and noisy chaos. In particular, we include...
Persistent link: https://www.econbiz.de/10011255740
performance. Measured performance equals actual performance plus noise. We compare a stable environment where the noise is small … with a volatile environment where the noise is large. Subjects exert significantly more effort in the volatile environment …
Persistent link: https://www.econbiz.de/10011255986
lack of identification lies at the root of these differences. To deal with this lack of identification, we propose an … identification strategy that explicitly distinguishes between what can be identified on the basis of the data and what is a … consequence of subjective choices due to a lack of identification. We apply our methodology to the pollution-income relationship …
Persistent link: https://www.econbiz.de/10011256480
Since dollarized countries import US monetary policy, identifying US monetary shocks through sign restrictions on US variables only, does not use all available information. In this paper we therefore include dollarized countries,which enable us to restrict more variables and leave the responses...
Persistent link: https://www.econbiz.de/10011256732
We show that a sufficient condition for the identification ofall parameters of the censored regression model with …
Persistent link: https://www.econbiz.de/10011257349
Traditional ways of analyzing the effects of monetary policy shocks via structural vector autoregressions require the use of unrealistic identifying assumptions: they either do not allow for a response of output and prices on impact of the shock, or they exclude contemporaneous values of these...
Persistent link: https://www.econbiz.de/10011257393