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The attractiveness of spatial autoregressive models has increased significantly. The awareness of important spatial interactions arose in various fields. In economics, interactions can be due to interdependencies between entities such as states, firms, or consumers. Examples are spatial...
Persistent link: https://www.econbiz.de/10005342878
Many regression models are used to provide some recommendations in private sectors or government public policy. Data are usually obtained from several districts which may varies from one to the others. Assuming there is no significant variation among local data, a single global model may provide...
Persistent link: https://www.econbiz.de/10010740407
This paper argues that the production constraints in the basic NAIRU model should be distinguished by type: capital constraints and labour constraints. It notes the failure to incorporate this phenomenon in standard macro models. Using panel data for UK manufacturing over eighty quarters it is...
Persistent link: https://www.econbiz.de/10005083405
A two-stage procedure based on impulse saturation is suggested to distinguish mean and variance shifts. The resulting zero-mean innovation test statistic has a non standard distribution, with a nuisance parameter. Hence, simulation-based critical values are provided for some cases of interest....
Persistent link: https://www.econbiz.de/10005085644
evidence in favor of the ones that allow for the possibility that the economy has experienced recurrent breaks. The recession … indicate the importance of considering recurrent breaks for monitoring business cycles. …
Persistent link: https://www.econbiz.de/10005014744
This paper investigates the sustainability of fiscal policy in a set of 19 countries by taking a longer-run secular perspective over the period 1880-2009. Via a systematic analysis of the stationarity properties of the first-differenced level of government debt, and disentangling the components...
Persistent link: https://www.econbiz.de/10009322926
Persistent link: https://www.econbiz.de/10009324839
free-lancers (who can take breaks at their discretion) and regular workers (who work on a fixed schedule). …
Persistent link: https://www.econbiz.de/10009386340
To study the extra-eurozone exports of goods by France and Germany, this study applies cointegration methods to estimate long-run equations for the period 1971–2010 (quarterly data), as well as for a shorter period known as the “euro period.†Various measures of the real...
Persistent link: https://www.econbiz.de/10009643087
data. In particular, the consequences of inflation having discrete breaks in mean have not been studied adequately. We show … by means of simulations and a detailed empirical example based on United States data that not taking account of breaks … may lead to biased, and therefore spurious, estimates of Phillips curves. We suggest a method to account for the breaks in …
Persistent link: https://www.econbiz.de/10009643907