The empirical DSGE (dynamic stochastic general equilibrium) literature pays surprisingly little attention to the behavior of the monetary authority. Alternative policy rule specifications abound, but their relative merit is rarely discussed. We contribute to filling this gap by comparing the fit...

Brilliant but little known, in part because his style was dense and crucial papers unpublished, Earl Thompson reformulated standard theory to achieve policy relevance, focusing on significant rent-seeking inefficiencies stemming from private information and transaction costs. Drawing on history,...

Econometrics has come into being and grown as a result of the need to set up instruments of investigation and increase of the methods to organize, conduct and manage the economy, and on the other hand, due to the successful statistical and mathematical me

An economy like that of China started out a lot of controversies and a lot of analysis. Recently, the monetary policy led by China gave birth to a series of disturbing questions, as follows: for how long can the fixed exchange rate be sustained? what will be the consequences of the continuous...

ILO pub-WEP pub. Working paper (conference paper), short term econometric model estimating the impact of economic policy on employment and incomes in Peru in 1983 - calculates interaction between external debt, balance of payments, monetary policy, fiscal policy, price policy, supply and demand...

ILO pub-WEP pub. Working paper, literature survey of economic theories dealing with the effects of devaluation on employment and poverty in developing countries - covers exchange rate trends, income distribution in market economies and planned economies, production, and monetary policy;...

We investigate whether there is a case for asset prices in interest rates rules within a small econometric model of the Norwegian economy, modeling the interdependence of the real economy, credit and three classes of assets prices: housing prices, equity prices and the nominal exchange rate. We...

We investigate whether there is a case for asset prices in interest rates rules within a small econometric model of the Norwegian economy, modeling the interdependence of the real economy, credit and three classes of assets prices: housing prices, equity prices and the nominal exchange rate. We...

Despite the fact that the macro-economic modelling of the econometric type has almost a 30-years tradition in the Slovak Republic, the econometric modelling of the more detailed money structure has no history at all. The significance of the problem with time series is held by the fact that no...

Using an aggregate econometric model for the EU we investigate by simulation methods some dynamic paths of the European economy in the next five years under alternative hypotheses concerning the growth of world demand, the European currency/USD exchange rate, and the monetary policy.