for the NMS compared to euro area countries while more traditional parametric statistical measures assuming a constant … due to frequent breaks in inflation time series in the NMS. Structural persistence measures show that backward …

the NMS, by using a Bayesian estimation that combines information across countries. The impulse responses in the NMS are …

In this paper we review the methodology of forecasting with log-linearised DSGE models using Bayesian methods. We focus … nonstructural benchmarks, such as Bayesian vector autoregressions (BVARs). Overall, the empirical evidence indicates that the NAWM … multivariate point and density forecasts using the log determinant and the log predictive score, respectively, suggest that a large …

deploy Bayesian Markov-switching structural vector autoregressive (MS-SVAR) model identified via heteroskedasticity. In …

cannot detect any substantial aggregate effect of austerity measures. Finally, the post-2007 surge in expenditure …

effect of austerity measures implemented in peripheral countries. Finally, the post-2007 surge in expenditure-to-GDP ratios …

variables and the macroeconomy by estimating a panel Bayesian VAR model for twelve euro area countries. The model is estimated …