We develop a similarity-based structural vector autoregressive (SVAR) model using the similar clusters of data relevant for the prevailing initial macroeconomic conditions of interest. Our computationally attractive simple approach enables us to uncover time-varying effects of structural...

North Cyprus, experiencing the disadvantages of being small, based its development on services sector. In recent years, higher education sector has developed rapidly and contributed to the growth of the economy significantly. In this study, using the 1990 input-output tables and the input-output...

In this paper, we measure the impact, in relative terms, of Covid-19 pandemic and the actions implemented to deal with it, on the Spanish mortality rates during year 2020. This study has been carried out age by age, distinguishing between male and female populations. The methodology we propose...

This paper establishes the statistical relationship between world business cycle and global temperature cycle. To amplify the signal to noise ratio, the two-state latent dynamics is estimated from the original process by utilizing the newly developed endogenous regime switching methodology of...

As the novel coronavirus progressed from Wuhan to various parts of the globe, governments were faced with a tradeoff: to go into lockdown to save lives but hurt the economy, or stay open to save the economy but lose lives. At the time, those in favour of the lockdown had empirical data to show...

Macroeconometric policy simulation models allow for an analysis, and, above all, for a quantification of the effects different economic policies have on the various variables that represent the economy. Despite the seminal "Lucas critique" levelled against them, these models are still widely...

We estimate the macroeconomic benefits and international spillovers of an increase in competition using a general-equilibrium simulation model with nominal rigidities and monopolistic competition in product and labor markets. We draw three conclusions after calibrating the model to the euro area...

This paper empirically investigates the effectiveness of monetary policy transmission in the Gulf Cooperation Council (GCC) countries using a structural vector autoregressive model. The results indicate that the interest rate and bank lending channels are relatively effective in influencing...

This paper develops a structural macroeconometric model of the world economy, disaggregated into thirty five national economies. This panel unobserved components model features a monetary transmission mechanism, a fiscal transmission mechanism, and extensive macrofinancial linkages, both within...

In this paper, we study the optimal mix of monetary and macroprudential policies in an estimated two-country model of the euro area. The model includes real, nominal and financial frictions, and hence both monetary and macroprudential policy can play a role. Wefind that the introduction of a...