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Existing methods for data interpolation or backdating are either univariate or based on a very limited number of series, due to data and computing constraints that were binding until the recent past. Nowadays large datasets are readily available, and models with hundreds of parameters are fastly...
Persistent link: https://www.econbiz.de/10009635924
Existing methods for data interpolation or backdating are either univariate or based on a very limited number of series, due to data and computing constraints that were binding until the recent past. Nowadays large datasets are readily available, and models with hundreds of parameters are fastly...
Persistent link: https://www.econbiz.de/10009640916
Private consumption is a key component in the rebalancing of growth that China is seeking, and a challenging one. Not …. Understanding what drove the consumption share down to a mere 36% of GDP in China is thus vital. This brief explores the many … reasons for the high precautionary savings that followed in the wake of the reform process in China. In particular, the …
Persistent link: https://www.econbiz.de/10011291913
China's economy slowed significantly in the first three quarters of 2012 and questions have been raised on a possible … understand what is driving this slowdown and how lasting it may be given China's importance as an engine for global growth. Is …
Persistent link: https://www.econbiz.de/10011298658
Since the release of the 12th Five-Year Plan in 2011, a reform of China's household registration system – the so … so far (beyond some experiments at the provincial level). In the context of growing urbanisation pressures in China, a …
Persistent link: https://www.econbiz.de/10011298665
China's economy is at a cross roads. The factors that have driven its economic transformation over the last decades are …-income' trap, China's leaders are attempting to engineer a reorientation of the economy towards more sustainable sources of growth …. While considerable success has been achieved, more needs to be done more quickly before the authorities in China can prove …
Persistent link: https://www.econbiz.de/10011298680
We compute public sector performance (PSP) and efficiency (PSE) indicators, comprising a composite and seven sub-indicators, for 23 industrialised countries. The first four sub-indicators are u0093opportunityu0094 indicators that take into account administrative, education and health outcomes...
Persistent link: https://www.econbiz.de/10009635959
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
for the existence of a bank lending channel. Finally, the estimation of the Structural-VECM highlights very rich dynamics …
Persistent link: https://www.econbiz.de/10009635913
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