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On the indeterminacy of determinacy and indeterminacy

Beyer, Andreas; Farmer, Roger E. A. - 2003

A number of authors have attemted to test whether the U.S. economy is in a determinate or an indeterminate equilibrium. We argue that to answer this question, one must be impose a priori restrictions on lag length that cannot be tested. We provide examples of two economic models. Model 1...

Persistent link: https://www.econbiz.de/10009635896

Equilibrium unemployment, job flows and inflation dynamics

Trigari, Antonella - 2004

general equilibrium model that integrates a theory of equilibrium unemployment into a monetary model with nominal price …

Persistent link: https://www.econbiz.de/10009636527

The Great Depression and the Friedman-Schwartz hypothesis

Christiano, Lawrence; Motto, Roberto; Rostagno, Massimo - 2004

We evaluate the Friedman-Schwartz hypothesis that a more accommodative monetary policy could have greatly reduced the severity of the Great Depression. To do this, we first estimate a dynamic, general equilibrium model using data from the 1920s and 1930s. Although the model includes eight...

Persistent link: https://www.econbiz.de/10009636549

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

Forecasting real GDP

Brand, Claus; Reimers, Hans-Eggert; Seitz, Franz - 2003

This paper analyses the information content of M1 for euro area real GDP since the beginning of the 1980s and reviews theoretical arguments on why real narrow money should help predict real GDP. We find that, unlike in the U.S., in the euro area, M1 has better and more robust forecasting...

Persistent link: https://www.econbiz.de/10009635922

EU productivity and competitiveness: an industry perspective

O'Mahony, Mary (contributor); Ark, Bart van (contributor) - Europäische Kommission / Generaldirektion Unternehmen; … - 2003

Persistent link: https://www.econbiz.de/10009635931

International risk-sharing and the transmission of productivity shocks

Corsetti, Giancarlo; Dedola, Luca; Leduc, Sylvain - 2004

the international transmission of productivity improvements generate the observed degree of risk-sharing: one associated …

Persistent link: https://www.econbiz.de/10009636531

Creative destruction and transition: The effects of firm entry and exit on productivity growth in Estonia

Masso, Jaan; Eamets, Raul; Philips, Kaia - 2004

firm entry and exit as well as survival analysis of new firms. Also, decompositions of productivity change into components … consisting of resource reallocation, firm entry and exit, and productivity growth within continuing firms are carried out. The … productivity compared to incumbent firms and changes in the sectoral structure of the economy. The decomposition of productivity …

Persistent link: https://www.econbiz.de/10009636560

Economic Survey of the Slovak Republic, 2004

Organisation for Economic Co-operation and Development … - 2004

Slovakia is engaged in an ambitious reform process which has the potential to quicken productivity growth, increase the …

Persistent link: https://www.econbiz.de/10009636870

Evolving Structural Patterns in the Enlarging European Division of Labour: Sectoral and Branch Specialisation and the Potentials for Closing the Productivity Gap

Stephan, Johannes - 2003

research and development on the determinants of productivity gaps between the current EU-15 and accession states in central and … specialisation patterns for the explanation of observed productivity gaps and for the projection of future potentials of productivity … growth in central and eastern Europe. For the aggregated level, analysis determines the share of national productivity gaps …

Persistent link: https://www.econbiz.de/10009636897