Monetary policy in the euro area is conducted within a multicountry, multicultural, and multilingual context involving multiple central banking traditions. How does this heterogeneity affect the ability of economic agents to understand and to anticipate monetary policy by the European Central...

This paper presents an update to the Report on the Observance of Standards and Codes on Data Module for Hungary. Hungary continues to observe the specifications of the Special Data Dissemination Standards for the coverage, periodicity, and timeliness of all data categories, including the...

This Report on the Observance of Standards and Codes (ROSC)—Data Module provides an assessment of The Gambia’s macroeconomic statistics against the recommendations of the General Data Dissemination System, complemented by an assessment of data quality based on the IMF’s Data...

Empirical studies that use self-reported data on remittances to measure the latter's impact on microeconomic incentives mostly ignore the potential errors associated with reporting/measurement issues. An econometric procedure to control for these errors is developed and applied to...

This study investigates the relationship between uncertainty and investment using U.K. data at different levels of aggregation. Motivated by a comparative econometric analysis using a firm-level panel and aggregate time-series data, we analyze the implications of aggregating nonlinear...

In a recent paper, Bai and Perron (2006) demonstrate that their approach for testing for multiple structural breaks in time series works well in large samples, but they found substantial deviations in both the size and power of their tests in smaller samples. We propose modifying their...