This paper assesses the statistical reliability of different measures of the output gap for the Euro-11 area and the US using, inflation and unemployment systems.

This paper analyzes the integration process of European equity markets since the 1980s. Its central focus is on the role that EMU, and specifically, changes in exchange rate volatility, has played in this process of financial integration.

Structural models are apowerful tool for business cycle and monetary analysis because they are invariant to either policy changes or external stocks. In this paper, we derive a sidrauski-type model in which both the demand and supply side are structural in the sense that the behavorial equations...