Identification based on higher moments has drawn increasing theoretical attention and been widely adopted in empirical practice in macroeconometrics in the last two decades. This article reviews two parallel strands of the literature: identification strategies based on heteroskedasticity and...

The basic framework of the PIDS Annual Macroeconometric Model is presented in this paper. After outlining the general philosophy of the model, the discussion focuses on the production sector of the model in order to trace the manner by which macroeconomic policies affect relative prices and...

The ex-ante evaluation of policies using structural econometric models is based on estimated parameters as a stand-in for the truth. This practice ignores uncertainty in the counterfactual policy predictions of the model. We develop a generic approach that deals with parametric uncertainty using...

This paper describes a small quarterly macroeconometric model of the Philippine economy. The model consists of sectors of private consumption, investment, government, trade, production, prices, money, and labor. The equilibrium-correction form is used for all the behavioral equations. The...

This paper describes a quarterly macroeconometric model of the economy of People's Republic of China. The model comprises household consumption, investment, government, trade, production, prices, money, and employment blocks. The equilibrium-correction form is used for all the behavioral...

German Social Democracy is faced with tremendous challenges of societal and economic changes: party dealignment, a bourgeoisifying of society, the rise of media democracy and economic and cultural globalisation. The party's reaction - a third order change in its ideological objectives and a...

The traditional theory of economic policy of the Tinbergen-Theil-type has come under severe criticism: in the ontological setting of the New Classical Macroeconomics based on the Rational Expectations Hypothesis (REH), economic policy is ineffective or neutral with respect to real variables. In...

After having been ignored for a long time by economists, happiness is becoming an object of serious research in 21st century economics. In Section 2 we sketch the present status of happiness economics. In Section 3 we consider the practical applicability of happiness economics, retaining the...

In the last years, a number of contributions has argued that monetary - and, more generally, economic - policy is finally becoming more of a science. According to these authors, policy rules implemented by central banks are nowadays well supported by a theoretical framework (the New Neoclassical...

Eine integrierte und nachhaltige Mobilitätsentwicklung stellt die Verkehrspolitik auch zukünftig vor zentrale Herausforderungen. Vor dem Hintergrund des Klimawandels und der Verknappung fossiler Energieträger wird es auch in Zukunft notwendig sein, Strategien und Konzepte zu entwickeln, die...