This work contains three papers employing common factor methodologies to economic forecasting for Estonia. The methods employed are State-space modelling with Kalman filtering, static principal components and dynamic principal components. The last paper also investigates Inflation dynamics and...

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Das Papier untersucht die Rolle von Frühindikatoren bei der Erstellung von Konjunkturprognosen. Gegenstand der Analyse sind die Fragen: Welche Kriterien sollten Frühindikatoren generell erfüllen bzw. was sollten Frühindikatoren leisten? Inwieweit erfüllen die gängigen Indikatoren diese...

This thesis investigates the consequences of model uncertainty and persistence in consumption habits and price-setting behaviour in a New Keynesian model.As the decision of a central bank is made in an uncertain environment, the analysis of uncertainty is essential in monetary policy models. In...

In recent years the New Keynesian Model with price stickiness of the Calvo type has become the most widely used theoretical framework for addressing various normative issues such as how optimal monetary and fiscal policy should be conducted. However, the New Keynesian Model has been criticized...