Is het mogelijk om de overheidsschuld te verminderen, zoals benodigd voor deelname aan de EMU, en tegelijkertijd de verhouding tussen het aantal inactieven en actieven (de i/a-ratio) te verlagen? Het kabinet tracht dit te doen door tekortreductie en het stimuleren van marktwerking en dynamiek....

The Non-Accelerating Inflation Rate of Unemployment (NAIRU) is an appealing theoretical concept with strong macroeconomic policy implications. In practice, NAIRU's can be computed from estimated wage and price equations running in growth rates or in levels. In this paper we specify and estimate...

This paper adopts the vector autoregression (VAR) approach to modelling the economy of the Netherlands. A VAR system with four endogenous variables---gross domestic product, inflation, the capital market interest rate and the money market interest rate---is built. The small, open character of...

One of the traditional motivations for building quarterly macroeconometric models is the demand for quarterly forecasts. Models based on annual data conceal higher frequency information and are not considered sufficiently informative to policy makers. Two difficulties may encumber quarterly...

The paper estimates a household money demand function for Poland from 1969 to 1995. Contrary to theoretical belief and earlier empirical evidence portfolio arguments are found to be significant. Despite regime shifts during the 1980s and full liberalization of the Polish economy in the beginning...

This paper presents a threshold uncertainty investment model for Dutch firms. The proposed uncertainty measure is constructed as an empirical proxy for the standard real options multiple. The uncertainty measure serves as the threshold variable in estimating a piecewise linear accelerator...

In this paper we analyse the impact of profits on investment using data of the Dutch manufacturing sector in a simple Kaleckian investment model. Profits and capacity determine the level of investment. The empirical analysis with this "non-mainstream" model confirms conclusions drawn in the...