Showing 1 - 10 of 160
In this study we derive a structural econometric model of learning by doing with multiproduct competition from a …
Persistent link: https://www.econbiz.de/10005497705
We propose two methods to choose the variables to be used in the estimation of the structural parameters of a singular DSGE model. The first selects the vector of observables that optimizes parameter identification; the second the vector that minimizes the informational discrepancy between the...
Persistent link: https://www.econbiz.de/10011083464
Are optimism shocks an important source of business cycle fluctuations? Are deficit-financed tax cuts better than deficit-financed spending to increase output? These questions have been previously studied using SVARs identified with sign and zero restrictions and the answers have been positive...
Persistent link: https://www.econbiz.de/10011084047
We investigate identification issues in DSGE models and their consequences for parameter estimation and model evaluation when the objective function measures the distance between estimated and model-based impulse responses. Observational equivalence, partial and weak identification problems are...
Persistent link: https://www.econbiz.de/10004990850
The theoretical literature on endogenous growth and international trade suggests that comparative advantage is endogenous. Sector-specific learning by doing and technology transfer respectively provide reasons why initial patterns of international specialization may persist or exhibit mobility...
Persistent link: https://www.econbiz.de/10005067579
An important question in international finance is to what extent stock return volatility is influenced by country location, industry affiliation, and global factors. This Paper develops a new methodology to measure these effects, in which portfolios mimicking ‘pure’ country and industry...
Persistent link: https://www.econbiz.de/10005067673
This paper proposes a measure of dynamic comovement between (possibly many) time series and names it cohesion. The measure is defined in the frequency domain and is appropriate for processes that are costationary, possibly after suitable transformations. In the bivariate case, the measure...
Persistent link: https://www.econbiz.de/10005656204
This Paper presents a two-stage bargaining framework which reproduces the key features of the Italian bargaining system, where wage negotiations occur first at the industry and then at the firm level. The framework we propose takes into account the presence of different degrees of union...
Persistent link: https://www.econbiz.de/10005656220
looking pricing account for the observed persistence in aggregate inflation. Second, price-setting responds to movements in …
Persistent link: https://www.econbiz.de/10005662190
This chapter highlights the problems that structural methods and SVAR approaches have when estimating DSGE models and examining their ability to capture important features of the data. We show that structural methods are subject to severe identification problems due, in large part, to the nature...
Persistent link: https://www.econbiz.de/10005662393