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VC - A Method for Estimating Time-Varying Coefficients in Linear Models
Schlicht, Ekkehart - 2020
This paper describes a moments estimator for a standard state-space model with coefficients generated by a random walk. A penalized least squares estimation is linked to the GLS (Aitken) estimates of the corresponding linear model with time-invariant parameters. The VC estimates are moments...
Persistent link: https://www.econbiz.de/10012843151
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Productivity Growth and the Phillips Curve : A Reassessment of the US Experience
Karanassou, Marika - 2009
the PC and explain the evolution of inflation and unemployment in the US from 1970 to 2006. Since our empirical … and inflation, while the monetary expansion was quite ineffective and led mainly to higher inflation. Finally, the …
Persistent link: https://www.econbiz.de/10013158034
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The Impact of Inflation Targeting on Inflation and Growth : How Robust is the Evidence?
Junankar, P. N. Raja - 2020
This paper evaluates the success of Inflation Targeting on inflation and growth on a large panel data set of both … evidence to show that the support for a successful Inflation Targeting policy is very weak or non-existent. We use various … the process by which inflation targeting is hypothesised to influence inflation and growth, Section 3 surveys this …
Persistent link: https://www.econbiz.de/10012833231
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The Evolution of Inflation and Unemployment : Explaining the Roaring Nineties
Karanassou, Marika - 2007
This paper analyses the relation between US inflation and unemployment from the perspective of quot;frictional growth … policy has not only persistent, but permanent real effects, giving rise to a long-run inflation-unemployment tradeoff. We … the US unemployment and inflation trajectories during the nineties …
Persistent link: https://www.econbiz.de/10012776513
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Cross-Country Connectedness in Inflation and Unemployment : Measurement and Macroeconomic Consequences
Pham, Binh Thai; Sala, Hector - 2021
inflation and unemployment. We focus on the G7 economies plus Spain, and use monthly data –high-frequency data in a macro …
Persistent link: https://www.econbiz.de/10013236402
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Dependence Measures in Bivariate Gamma Frailty Models
van den Berg, Gerard J. - 2014
Bivariate duration data frequently arise in economics, biostatistics and other areas. In "bivariate frailty models", dependence between the frailties (i.e., unobserved determinants) induces dependence between the durations. Using notions of quadrant dependence, we study restrictions that this...
Persistent link: https://www.econbiz.de/10013055564
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Real Wages and the Business Cycle in Germany
Marczak, Martyna - 2010
This paper establishes stylized facts about the cyclicality of real consumer wages and real producer wages in Germany. As detrending methods we apply the deterministic trend model, the Beveridge-Nelson decomposition, the Hodrick-Prescott filter, the Baxter-King filter and the structural time...
Persistent link: https://www.econbiz.de/10013137519
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Transmission of US and EU Economic Policy Uncertainty Shock to Asian Economies in Bad and Good Times
Balcilar, Mehmet - 2020
This study empirically examines the fragility of five major Asian economies (China, Hong Kong, India, Japan, and South Korea) to economic policy uncertainty (EPU) of US and EU, and oil prices in different state of the economies. To investigate these dynamics, we use the relative tail dependence...
Persistent link: https://www.econbiz.de/10012833241
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An Empirical Growth Model for Major Oil Exporters
Esfahani, Hadi Salehi - 2012
This paper develops a long-run growth model for a major oil exporting economy and derives conditions under which oil revenues are likely to have a lasting impact. This approach contrasts with the standard literature on the "Dutch disease" and the "resource curse", which primarily focuses on...
Persistent link: https://www.econbiz.de/10013107701
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The US Inflation-Unemployment Tradeoff : Methodological Issues and Further Evidence
Karanassou, Marika - 2009
chain reactions, and provides new evidence on the long-run inflation-unemployment tradeoff in the US. It is argued that … inflation/unemployment responses to money growth shocks. SVAR (structural vector autoregression) and GMM (generalised method of … and real sides of the economy are symbiotic. In the light of the significant and robust long-run inflation …
Persistent link: https://www.econbiz.de/10013158516