The preparations for the introduction of the euro in 1999 involved the need for a new set of statistics for the euro area. Since then, significant progress has been made with regard to the coverage, timeliness and accuracy of these statistics. The reliability of the first releases – i.e. their...

The well-known problem of too many instruments in dynamic panel data GMM is dealt with in detail in Roodman (2009, Oxford Bull. Econ. Statist.). The present paper goes one step further by providing a solution to this problem: factorisation of the standard instrument set is shown to be a valid...

“Which index formula at the elementary level, where no expenditure share weights are available, corresponds to a desired aggregate index?” To answer this question, this paper develops a statistical approach. It proposes a theoretical framework which makes it possible to achieve numerical...

The present paper refers to the ESS Guidelines on Seasonal Adjustment and gives an example of how to use them in times of crisis. Taking as a basis the example of Argentine currency in circulation, a comparison is made between revisions from readjusting data every time a new figure is released...

The well-known problem of too many instruments in dynamic panel data GMM is dealt with in detail in Roodman (2009, Oxford Bull. Econ. Statist.). The present paper goes one step further by providing a solution to this problem: factorisation of the standard instrument set is shown to be a valid...

This paper studies the role of uncertainty in the corporate cash hoarding puzzle. The baseline model is a stochastic neoclassical growth model featuring idiosyncratic and uninsurable technology shocks and a cash-in-advance constraint on new investments on the individual firm level. Individual...