Our paper addresses the correction of the aggregation bias in linear rational expectations models when there is some … asymptotic properties of the proposed estimators correct the aggregation bias found with the maximum-likelihood and generalized …

This paper examines the issue of the impact of aggregation in the empirical analysis of euro area labour markets. A … largest euro area countries. Potential sources of aggregation bias are investigated - such as differences in parameter … develop country-specific structures for the Phillips Curves and not from aggregation biases that emerge when a common …

in these relationships and in IS curves across not just countries but also sectors and regions. Key words: aggregation …