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Implementing optimal control in cointegrated I(1) structural VAR models

Monti, Francesca V. - 2003

This paper examines the feasibility of implementing Linear Quadratic Gaussian (LQG) Control in structural cointegrated VAR models and sheds some light on the two major problems generated by such implementation. The first aspect to be taken into account is the effect of the presence of unit roots...

Persistent link: https://www.econbiz.de/10009635883

Monetary policy analysis in a small open economy using Bayesian cointegrated structural VARs

Villani, Mattias; Warne, Anders - 2003

handling of cointegration restrictions. This paper extends the Bayesian analysis of structural VARs to cover cointegrated … processes with an arbitrary number of cointegrating relations and general linear restrictions on the cointegration space. A …

Persistent link: https://www.econbiz.de/10009636519

A structural common factor approach to core inflation estimation and forecasting

Morana, Claudio - 2004

In the paper we propose a new methodological approach to core in- flation estimation, based on a frequency domain principal components estimator, suited to estimate systems of fractionally cointegrated processes. The proposed core inflation measure is the scaled common persistent factor in...

Persistent link: https://www.econbiz.de/10009636528

A markup model of inflation for the euro area

Bowdler, Christopher; Jansen, Eilev S. - 2004

Equilibrium correction models of the price level are often used to model inflation. Such models assume that the long-run markup of prices over costs is fixed, but this may not be true for the Euro area economy, which has undergone major structural reforms over the last 25 years. We allow for...

Persistent link: https://www.econbiz.de/10009636529

Non-fundamental exchange rate volatility and welfare

Straub, Roland; Tchakarov, Ivan - 2004

We lay out an empirical and a theoretical model to analyze the effects of non-fundamental exchange rate volatility on … of the conditional exogenous exchange rate volatility on the conditional mean of the endogenous variables in our open … economy VAR. Our results for Canada, Germany and UK indicate that the effects of exchange rate uncertainty are small …

Persistent link: https://www.econbiz.de/10009636551

The Integration of Migrants and its Effects on the Labour Market

Eichhorst, Werner; Giulietti, Corrado; Guzi, Martin - 2011

This study provides an overview of the situation of immigrants in the European Union, by focusing on the process of their integration and its impact on the labour market. Section 1 provides information on the scale of the migration phenomenon, focusing on the origin patterns of immigrants to the...

Persistent link: https://www.econbiz.de/10011902468

Social dialogue and the recession

Demetriades, Stavroula; Kullander, Mats - 2009

This paper aims to give a flavour of the latest developments across Europe and inform policy makers of topical issues. It will present measures taken in response to the recession (both employment market measures and financial stimulus packages), outline the extent of social partner involvement,...

Persistent link: https://www.econbiz.de/10012023018

Gross job flows and institutions in Europe

Gómez-Salvador, Ramón; Messina, Julián; Vallanti, … - 2004

We examine job flows in the 1990s for a sample of 13 European countries. By using a dataset of continuing firms that covers all sectors, we find firm characteristics to be important determinants of job flows, with smaller and younger firms within services typically having a larger degree of job...

Persistent link: https://www.econbiz.de/10009636541

Institutions and service employment

Messina, Julián - 2004

We live in a service economy, but the extent of development of service employment differs across developed countries. This paper assesses the role of structural factors and institutions in explaining the common patterns and main differences in the recent expansion of service employment in OECD...

Persistent link: https://www.econbiz.de/10009636543

Reconciling the welfare state with sound public finances and high employment

Buti, Marco; Franco, Daniele; Pench, Lucio R. - 2000

Persistent link: https://www.econbiz.de/10009636981

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