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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 … straightforward evaluation of the posterior distribution. The methods are used to analyze the effects of monetary policy in Sweden. …
Persistent link: https://www.econbiz.de/10009636519
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Anti-discrimination legislation in EU Member States -Sweden
Lappalainen, Paul (contributor) - European Monitoring Centre on Racism and Xenophobia - 2002
Persistent link: https://www.econbiz.de/10009639533
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US, Japan and the euro area
McAdam, Peter - 2003
There has been much discussion of the differences in macroeconomic performance and prospects between the US, Japan and the euro area. Using Markov-switching techniques, in this paper we identify and compare specifically their major business-cycle features and examine the case for a common...
Persistent link: https://www.econbiz.de/10009635889
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Evaluation conjointe de la coopération de l’Allemagne, de la Belgique, de la Commission européenne, de la France, des Pays-Bas, du Royaume-Uni et de la Suède avec le Burundi : Volu...
Lefebvre, Luc (contributor) - SEE sarl - 2014
L’Allemagne, la Belgique, la Commission Européenne, la France, les Pays-Bas, le Royaume-Uni et la Suède se sont associés pour mener une évaluation conjointe de leur coopération avec le Burundi sur la période 2005-2011. L’évaluation conjointe analyse les résultats d'efforts conjugués...
Persistent link: https://www.econbiz.de/10011799349
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Identifying fiscal shocks and policy regimes in OECD countries
Arcangelis, Giuseppe de; Lamartina, Serena - 2003
The aim of this paper is twofold. First, for West Germany, France, Italy and US, we econometrically select within a … France, the strongest ex0Bect on output is produced by shocks on government expenditure on wages and transfers. …
Persistent link: https://www.econbiz.de/10009635887
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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
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A monthly monetary model with banking intermediation for the euro area
Bruggeman, Annick; Donnay, Marie - 2003
This monthly monetary model for the euro area is gradually constructed from its two constituting components: a money demand and a loan demand model which both include the relation between the respective retail bank rates and the short-term market interest rate. Eventually, the encompassing...
Persistent link: https://www.econbiz.de/10009635913
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Interest rate reaction functions and the Taylor rule in the euro area
Gerlach-Kristen, Petra - 2003
Traditional Taylor rules, which are estimated using a level specification linking the short-term interest rate to inflation and the output gap, are unstable when estimated on euro area data and forecast poorly out of sample. We present an alternative reaction function which takes the...
Persistent link: https://www.econbiz.de/10009635919
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Volatility of interest rates in the euro area
Cassola, Nuno; Morana, Claudio - 2003
This paper estimates the factors underlying the volatility of the euro overnight interest rate and its transmission along the euro area money market yield curve. A new multivariate unobserved components model is proposed allowing for both long-memory and stationary cyclical dynamics. Using...
Persistent link: https://www.econbiz.de/10009635972
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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