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Measurement Error in Monetary Aggregates: A Markov Switching Factor Approach

Barnett, William A.; Chauvet, Marcelle; Tierney, … - Volkswirtschaftliche Fakultät, … - 2007

This paper compares the different dynamics of simple sum monetary aggregates and the Divisia indexes over time, over the business cycle, and across high and low inflation and interest rate phases. Although the traditional comparison of the series may suggest that they share similar dynamics,...

Persistent link: https://www.econbiz.de/10005836240

Measurement Error in Monetary Aggregates: A Markov Switching Factor Approach

Barnett, William A.; Chauvet, Marcelle; Tierney, … - Volkswirtschaftliche Fakultät, … - 2007

This paper compares the different dynamics of the simple sum monetary aggregates and the Divisia monetary aggregate indexes over time, over the business cycle, and across high and low inflation and interest rate phases. Although traditional comparisons of the series sometimes suggest that simple...

Persistent link: https://www.econbiz.de/10005836526

The End of the Great Moderation: “We told you so.”

Barnett, William A.; Chauvet, Marcelle - Volkswirtschaftliche Fakultät, … - 2008

misunderstanding after another. The bad data produced by simple sum aggregation have contaminated research in monetary economics, have … aggregation theory, now exist, the usual official central bank data are not based on that better approach. While aggregation … throughout the world, the only central banks that currently make aggregation-theoretic monetary aggregates available to the …

Persistent link: https://www.econbiz.de/10005836728

How better monetary statistics could have signaled the financial crisis

Barnett, William A.; Chauvet, Marcelle - Volkswirtschaftliche Fakultät, … - 2010

This paper explores the disconnect of Federal Reserve data from index number theory. A consequence could have been the decreased systemic-risk misperceptions that contributed to excess risk taking prior to the housing bust. We find that most recessions in the past 50 years were preceded by more...

Persistent link: https://www.econbiz.de/10008614991

Primat der Form

Cruccolini, Roberto - Volkswirtschaftliche Fakultät, … - 2010

Aspekte der Aggregation bzw. Mikrofundierung, der Wohlfahrtsanalyse, der Rigorosität der Modellierung und der Lucas …

Persistent link: https://www.econbiz.de/10008739741

Counting happiness from the individual level to the group level

Beja Jr, Edsel; Yap, David B. - Volkswirtschaftliche Fakultät, … - 2012

The development of a reliable procedure for the aggregation of individual level happiness leads to a proper … order that aggregation is not problematic and the resulting measure not only makes sense but also useful for group level …

Persistent link: https://www.econbiz.de/10011107585

Aggregation with Cournot competition: the Le Chatelier Samuelson principle

Koebel, Bertrand; François, Laisney - Volkswirtschaftliche Fakultät, … - 2014

This paper studies the aggregate substitution and expansion effects triggered by changes in input prices in a context where firms supply a homogeneous commodity and compete in quantities à la Cournot. We derive a sufficient condition for the existence of a Cournot equilibrium and show that this...

Persistent link: https://www.econbiz.de/10011107774

Industry Effects on Firm and Segment Profitability Forecasting: Do Aggregation and Diversity Matter?

Yim, Andrew; Schröder, David - Volkswirtschaftliche Fakultät, … - 2012

Abstract. A recent study shows that industry-specific analysis has no incremental advantage over economy-wide analysis in forecasting firm profitability. This result seems puzzling because some earlier studies have documented the importance of industry effects in explaining firm profitability....

Persistent link: https://www.econbiz.de/10011108810

Probabilistic Opinion Pooling

Dietrich, Franz; List, Christian - Volkswirtschaftliche Fakultät, … - 2014

This review article introduces and evaluates various ways to aggregate probabilistic opinions of different individuals. For each of these three ways, an axiomatic characterization result is presented (a new one in the case of multiplicative pooling). The three ways satisfy different axioms and...

Persistent link: https://www.econbiz.de/10011111553

Re-engineering the ISAE manufacturing survey

Malgarini, Marco; Margani, Patrizia; Martelli, Bianca Maria - Volkswirtschaftliche Fakultät, … - 2005

the aggregation of survey results is now based on the NACERev1.1 classification, at the 3-digit level, adapted to take … ones for the entire industry. Historical data up to 1991 have been recalculated accordingly to the new aggregation scheme …

Persistent link: https://www.econbiz.de/10011112045