The ratio of consumption to total household wealth (i.e., tangible assets plus unobserved human wealth) is commonly … calculated from the estimation of a log-linear version of the household intertemporal budget constraint as a cointegrating … component in the consumption equation. The consumption-to-wealth ratio calculated from this model is much less persistent than …

Netherlands to investigate the role of liquid wealth. Within five years of job loss, the likelihood of being a permanent worker … shock to job security. This effect is driven by workers with low liquid wealth, pointing to liquidity constraints as an …

potentially incorrect conclusions regarding the case of Dutch disease in Canada. We propose a new approach that is aimed at … separate impact of the two currency components on the shares of manufacturing employment in Canada. We show that 42 per cent of …

Estimation of the volatility of time series has taken off since the introduction of the GARCH and stochastic volatility … unobserved stochastic volatility, and the varying approaches that have been taken for such estimation.In order to simplify the … comprehension of these estimation methods, the main methods for estimating stochastic volatility are discussed, with focus on their …