Constructing bootstrap confidence intervals for impulse response functions (IRFs) from structural vector autoregression … can deteriorate severely, however, if the bootstrap IRFs are biased. We document an apparently common source of bias in … generally unrecognized because it only affects the bootstrap estimates of the error variance, not the original OLS estimates …

Constructing bootstrap confidence intervals for impulse response functions (IRFs) from structural vector autoregression … can deteriorate severely, however, if the bootstrap IRFs are biased. In this paper, we document an apparently common … scale adjustment. This bias is often unrecognized because it only affects the bootstrap estimates of the error variance, not …

escalation of inflation. The political factors such as government instability, corruption, bureaucracy, and internal conflicts …

We investigate the sources of macroeconomic (output and inflation) variability in selected European countries within … currently members of the European Monetary Union and non-members. As for inflation, on the contrary, regional factors are more …

Modern theories of inflation incorporate a vertical long-run Phillips curve and are usually estimated using techniques … that ignore the non-stationary behaviour of inflation. Consequently, the estimates obtained are imprecise and are unable to … distinguish between competing models of inflation and test the veracity of a vertical long-run Phillips curve. We estimate a …

by movements in inflation and the business cycle. Consequently, based on our data, we find little evidence of a pro …

particular, we find that commodity price shocks explain a large share of cyclical movements in inflation. Neutral technology …

particular, we find that commodity price shocks explain a large share of cyclical movements in inflation. Neutral technology …