include stochastic volatility for the observation errors. Our estimation results are based on practical Bayesian state space …

) leading to efficiency gains in the banking market. Our findings suggest that the more frequent bank failures occurring in a … removing barriers to bank entry on bank competition and economic growth. As governments were not concerned about systemic … stability in this period, we are able to isolate the effects of bank competition from those of state implicit guarantees. We …

This paper contributes to the productivity literature by using results from firm-level productivity studies to improve … forecasts of macro-level productivity growth. The paper employs current research methods on estimating firm-level productivity … to build times-series components that capture the joint dynamics of the firm-level productivity and size distributions …

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 …