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Spectral approach to parameter-free unit root testing
Bailey, Natalia; Giraitis, Liudas - 2015
A relatively simple frequency-type testing procedure for unit root potentially contaminated by an additive stationary noise is introduced, which encompasses general settings and allows for linear trends. The proposed test for unit root versus stationarity is based on a finite number of...
Persistent link: https://www.econbiz.de/10010517695
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Quasi maximum likelihood estimation of spatial models with heterogeneous coefficients
Aquaro, Michele; Bailey, Natalia; Pesaran, M. Hashem - 2015
This paper considers spatial autoregressive panel data models and extends their analysis to the case where the spatial coefficients differ across the spatial units. It derives conditions under which the spatial coefficients are identified and develops a quasi maximum likelihood (QML) estimation...
Persistent link: https://www.econbiz.de/10011283005
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Income taxation and labour response : empirical evidence from a DID analysis of an income tax treatment in Italy
Bosco, Bruno; Bosco, Carlo Federico; Maranzano, Paolo - 2024
This paper uses the Italian income tax treatment of 2006/7 as a quasi-natural tax experiment to offer some fresh empirical evidence on how labour supply responds to exogenous income tax hikes. We adopt the identification strategy based on TWFE panel data Difference-in-Differences (DID) model to...
Persistent link: https://www.econbiz.de/10014563801
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Impact evaluation of innovation and linkage development programs in Costa Rica : the cases of PROPYME and CR Provee
Monge González, Ricardo; Rodriguez-Alvarez, Juan Antonio - 2013
This paper estimates the impact of two productive development programs (PDPs) in Costa Rica: PROPYME and CR Provee. The first seeks to increase the capacity of small and medium-sized firms (SMEs) to innovate, and the second aims to increase backward linkages between Costa Rican SMEs and...
Persistent link: https://www.econbiz.de/10010245491
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Pobreza, vulnerabilidad y la clase media en América Latina
Stampini, Marco; Robles, Marcos; Sáenz, Mayra; … - 2015
Persistent link: https://www.econbiz.de/10011290939
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Poverty, vulnerability and the middle class in Latin America
Stampini, Marco; Robles, Marcos; Sáenz, Mayra; … - 2015
Between 2000 and 2013, Latin America has considerably reduced poverty (from 46.3% to 29.7% of the population). In this paper, we use synthetic panels to show that, despite progress, the region remains characterized by substantial vulnerability that also affects the rising middle-class. More...
Persistent link: https://www.econbiz.de/10011290941
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Large vector autoregressions with asymmetric priors
Carriero, Andrea; Clark, Todd E.; Marcellino, Massimiliano - 2015 - This draft: November 2015
We propose a new algorithm which allows easy estimation of Vector Autoregressions (VARs) featuring asymmetric priors and time varying volatilities, even when the cross sectional dimension of the system N is particularly large. The algorithm is based on a simple triangularisation which allows to...
Persistent link: https://www.econbiz.de/10011389735
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Nowcasting the Maltese economy with a dynamic factor model
Ellul, Reuben; Ruisi, Germano - 2022
product, which in turn are used as an input in the forecasting process. Such forecasts reflect and incorporate the flow of … in a synchronous way. The forecasting power of the dynamic factor model is compared with those of several other models …
Persistent link: https://www.econbiz.de/10012818645
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Forecasting Macedonian inflation : evaluation of different models for short-term forecasting
Petrovska, Magdalena; Ramadani, Gani; Naumovski, Nikola; … - 2017
Republic of Macedonia (NBRM) for short-term forecasting of inflation - Autoregressive integrated moving average models … models' out-of-sample forecasting performance for the period 2012 q3 to 2016 q2 by using a number of forecast evaluation … to individual models' forecasts. Our results point to three important conclusions. First, the forecasting accuracy of the …
Persistent link: https://www.econbiz.de/10011717605
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Inflation decomposition model : application to Macedonian inflation
Andonova, Danica Unevska - 2018
results of the model's forecasting performance suggest that this model can be a useful analytical tool in the process of … to MAKPAM and enriches the set of tools for forecasting and monetary policy analysis in NBRM. In this paper we highlight …
Persistent link: https://www.econbiz.de/10011926820