within VAR, structural VAR, and the Factor-Augmented VAR framework. We document a well-functioning transmission mechanism similar to the euro area countries, especially in terms of persistence of monetary policy shocks. Subject to various sensitivity tests, we find that contractionary monetary...

En este documento se analizan las revisiones en tiempo real de las estimaciones de la brecha de producción (output gap) publicadas por la Comisión Europea para 15 países durante el período 2002-2014. De acuerdo con nuestro análisis, las revisiones en tiempo real de las brechas de...

Al igual que la mayoría de los datos macroeconómicos, las cifras de déficit público están sujetas a revisiones. Sin embargo, en el caso de Europa, estas podrían ser especialmente preocupantes dado el papel que desempeñan los datos fiscales en el funcionamiento de las reglas de...

The standard methodology when building statistical models has been to use one of several algorithms to systematically search the model space for a good model. If the number of variables is small then all possible models or best subset procedures may be used, but for data sets with a large number...

Since the mid 1980's many statisticians have studied methods for combining parametric andnonparametric esimates to improve the quality of fits in a regression problem. Notably in 1987,Einsporn and Birch proposed the Model Robust Regression estimate (MRR1) in which estimatesof the parametric...

Parametric regression fitting (such as OLS) to a data setrequires specification of an underlying model. If thespecified model is different from the true model, then theparametric fit suffers to a degree that varies with the extentof model misspecification. Mays and Birch (1996)addressed this...

One form of model robust regression (MRR) predicts mean response as a convexcombination of a parametric and a nonparametric prediction. MRR is a semiparametricmethod by which an incompletely or an incorrectly specified parametric model can beimproved through adding an appropriate amount of a...

The content of this dissertation is divided into two main topics: 1) nonlinear profilemonitoring and 2) an improved approximate distribution for the T^2 statistic based on thesuccessive differences covariance matrix estimator. (Part 1) In an increasing number of cases the quality of a product or...

Simple time trend variables in factor demand models can be statistically powerful variables, but may tell the researcher very little. Even more complex specification of technical change, e.g. factor biased, are still the economentrician's measure of ignorance'' about the shifts that occur in the...