Gavin, William T.; Kemme, David M. - In: Journal of International Money and Finance 28 (2009) 5, pp. 868-879
Empirical macroeconomics is plagued by small sample size and large idiosyncratic variation. This problem is especially severe in the case of the transition economies. We utilize a mixed-estimation method incorporating prior information from OECD country data to estimate the parameters of a...