We use recently developed panel cointegration and integration tests, which allow for heterogeneity in parameters and dynamics across countries, to examine the long-run determinants of aggregate private saving rates in a dynamic panel of OECD countries during the post Second World War period....

This paper examines the potential use of financial spreads in forecasting aggregate macroeconomic activity in the United Kingdom. The authors develop a quarterly BVAR (Bayesian vector autoregressive) macroeconomic model which is used to generate out-of-sample forecasts for GDP, prices, real...

In this paper we analyse the purchasing power parity (PPP) persistence puzzle using a unique data set of black market real exchange rates for 36 emerging market economies and (exact and approximate) median unbiased univariate and panel estimation methods. We construct bootstrap confidence...