Given a set of continuous variables with missing data, we prove in this paper that the iterative application of a simple “least-squares estimation/multivariate normal simulation” procedure produces an efficient parameters estimator. There are two main assumptions behind our proof: (1) the...

Questo saggio analizza il NAIRU utilizzando un VAR cointegrato e dati che riferiscono al mercato del lavoro italiano. In questo saggio si mostrerà perché un VAR cointegrato rappresenta un approccio statisticamente adeguato alla stima del NAIRU, cioè un modo efficace di superare i diversi...

The literature on Markov switching models is increasing and producing interesting results both at theoretical and applied levels. Most often the number of regimes, i.e., of data generating processes, is considered known; this strong hypothesis is adopted to somewhat bypass the nuisance parameter...