The eucalyptus plantations constitute a major segment of the Agribusiness System of Forestry in Mato Grosso do Sul, thus, this study has focused primarily examine the competitiveness of this segment by applying a quantitative methodology for analyzing economic results called Quasi-Income,...

Given that for France, Germany, Italy and the Netherlands the unemployment rates are best classified as <italic>I</italic>(1), we apply permanent-transitory decompositions based on co-integrated Vector Autoregressions (VAR) with relevant variables (labour productivity, wages, tax wedges, foreign relative prices)...

There is a significant variation in demographic development among European Union (EU) member states. Using the UN’s Population Prospects, we examine how different retirement ages in selected EU countries would lead to comparable relations between the working-age population and pensioners in...

For the timely detection of business-cycle turning points we suggest to use mediumsized linear systems (subset VARs with automated zero restrictions) to forecast the relevant underlying variables, and to derive the probability of the turning point from the forecast density as the probability...

Short answer: It helps a lot when other important variables are excluded from the information set. Longer answer: We revisit claims in the literature that money growth is Granger-causal for inflation at low frequencies. Applying frequency-specific tests in a comprehensive system setup for...

Cogan et al. (2009, 2010) claim that the stimulus package passed by the United States Congress in February 2009 had a multiplier far below one. However, the stimulus’ multiplier strongly depends on the assumed monetary policy response. Based on official statements from the Fed chairman, the...

The detection of business-cycle turning points is usually performed with non-linear discrete-regime models such as binary dependent variable (e.g., probit or logit) or Markov-switching methods. The probit model has the drawback that the continuous underlying target variable is discretized, with...