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Aggregation in large dynamic panels
Pesaran, Mohammad Hashem; Chudik, Alexander - 2011
This paper considers the problem of aggregation in the case of large linear dynamic panels, where each micro unit is … Pesaran (2003), an optimal aggregate function is derived, and the limiting behavior of the aggregation error is investigated … which observed inflation persistence at the aggregate level is due to aggregation and/or common unobserved factors. Our …
Persistent link: https://www.econbiz.de/10010285520
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Aggregation in large dynamic panels
Pesaran, Mohammad Hashem; Chudik, Alexander - 2011
This paper considers the problem of aggregation in the case of large linear dynamic panels, where each micro unit is … Pesaran (2003), an optimal aggregate function is derived, and the limiting behavior of the aggregation error is investigated … which 'observed' inflation persistence at the aggregate level is due to aggregation and/or common unobserved factors. Our …
Persistent link: https://www.econbiz.de/10010285540
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Aggregation in Large Dynamic Panels
Pesaran, M.H.; Chudik, A. - Faculty of Economics, University of Cambridge - 2011
This paper considers the problem of aggregation in the case of large linear dynamic panels, where each micro unit is … Pesaran (2003), an optimal aggregate function is derived, and the limiting behavior of the aggregation error is investigated … which 'observed' inflation persistence at the aggregate level is due to aggregation and/or common unobserved factors. Our …
Persistent link: https://www.econbiz.de/10009024878
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Aggregation in large dynamic panels
Pesaran, M. Hashem; Chudik, Alexander - In: Journal of Econometrics 178 (2014) P2, pp. 273-285
This paper investigates the problem of aggregation in the case of large linear dynamic panels, where each micro unit is … extent to which ‘observed’ inflation persistence at the aggregate level is due to aggregation and/or common unobserved …
Persistent link: https://www.econbiz.de/10011052295
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The Norwegian productivity puzzle – not so puzzling after all?
Brasch, Thomas von - Statistisk Sentralbyrå, Government of Norway - 2015
The Norwegian productivity puzzle is rooted in three seemingly contradictory “facts”: First, Norway is one of the most productive OECD countries. Second, Norway has experienced high growth in productivity. Third, Norway has a relatively low level of R&D intensity. In this article, I show...
Persistent link: https://www.econbiz.de/10011165633
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A conceptual note on the aggregation of international prices using index numbers
Benedictow, Andreas; Boug, Pål - Statistisk Sentralbyrå, Government of Norway - 2011
Aggregation of international prices in empirical work is generally based on well known index number formulas. However …
Persistent link: https://www.econbiz.de/10009493365
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Inflation dynamics and real marginal costs: New evidence from U.S. manufacturing industries
Petrella, Ivan; Santoro, Emiliano - In: Journal of Economic Dynamics and Control 36 (2012) 5, pp. 779-794
This paper deals with the analysis of price-setting in U.S. manufacturing industries. Recent studies have heavily criticized the ability of the New Keynesian Phillips curve (NKPC) to fit aggregate inflation (see, e.g., Rudd and Whelan, 2006). We challenge this evidence, showing that...
Persistent link: https://www.econbiz.de/10010573982
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Inflation Dynamics and Real Marginal Costs: New Evidence from U.S. Manufacturing Industries
Petrella, Ivan; Santoro, Emiliano - Økonomisk Institut, Københavns Universitet - 2011
This paper deals with the analysis of price-setting in U.S. manufacturing industries. Recent studies have heavily criticized the ability of the New Keynesian Phillips curve (NKPC) to fit aggregate inflation [see, e.g., Rudd and Whelan, 2006, Can Rational Expectations Sticky-Price Models Explain...
Persistent link: https://www.econbiz.de/10010612963
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Forecasting economic aggregates by disaggregates
Hendry, David F.; Hubrich, Kirstin - 2006
We suggest an alternative use of disaggregate information to forecast the aggregate variable of interest, that is to include disaggregate information or disaggregate variables in the aggregate model as opposed to first forecasting the disaggregate variables separately and then aggregating those...
Persistent link: https://www.econbiz.de/10011604635
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Inflation perceptions and expectations in the euro area: the role of news
Badarinza, Cristian; Buchmann, Marco - 2009
The aim of this study is to assess empirically to what extent the degree of heterogeneity of consumers’ inflation perceptions and expectations is driven by the flow of information related to current and future price developments in the euro area. We conduct the analysis both on an aggregate...
Persistent link: https://www.econbiz.de/10011605134