We use a vector error correction model to study the long-term relationship between aggregate expected default frequency and the macroeconomic development, i.e. CPI, industry production and short-term interest rate. The model is used to forecast the median expected default frequency of the...

This paper provides an empirical analysis of the decomposition of Denmark Krone real exchange rates into the relative price of traded goods and the relative price ratio of non-traded and traded goods in a selective European time-series context to test the prediction that deviations from the law...

This paper provides an empirical analysis of the decomposition of Denmark Krone real exchange rates into the relative price of traded goods and the relative price ratio of non-traded and traded goods in a selective European time-series context to test the prediction that deviations from the law...

This paper presents a procedure for studying industrial performance and related issues such as changes in the wage structure. This procedure combines cluster analysis and discriminant analysis as a package, and applies this package to time series data. This enables us to organize industrial data...

An important issue in estimating cartel overcharges is to have a reliable estimate of the but-for-the-cartel price. While the cartel price is observable, the but-for-the-cartel price is not. A construction of the but-for-cartel-price evolution by assuming perfect competition, i.e. that price...

While there is considerable literature attempting to model current account, there are not many studies to forecast current account balance. This study gives a comprehensive way to model and predict current account deficit (CAD) by evaluating the forecasting performance of direct and indirect...

In recent years, extensive literature on the Environmental Kuznets Curve leading to optimistic policy conclusions has attracted great attention. However, the underlying cross-section estimations are not very reliable. Accordingly, this contribution uses time series data for a single country with...