This paper derives analytical expressions for the revenue elasticity of consumption taxes and combined income-consumption tax systems, analogous to those familiar for income taxes. It provides measures of tax revenue elasticities which can readily be applied in practice. Analytical results...

We evaluate residual projection strategies in the context of a large-scale macro model of the euro area and smaller benchmark time-series models. The exercises attempt to measure the accuracy of model-based forecasts simulated both out-of-sample and in-sample. Both exercises incorporate...

A practice that has become widespread is that of comparing forecasts of financial return variability obtained from discrete time models against high frequency estimates based on continuous time theory. In explanatory financial return variability modelling this raises several methodological and...

In this paper we compare data from BTA deep-hole drilling experiments conducted according to an experimental design, which had to be repeated due to the development of spiralling in all experiments in the first repetition. We compare the time series of the drilling torque and the bending moment...

Seasonality in macroeconomic time series can obscure movements of other components in a series that are operationally more important for economic and econometric analyses. Indeed, in practice one often prefers to work with seasonally adjusted data to assess the current state of the economy and...

This paper deals with the construction, decomposition and comparison of water footprint time series in 40 countries and one aggregate macro-region, in the period 1995-2009. The analysis of the different “footpaths” allows us to investigate on the possible causes behind the time evolution of...

We investigate the procedure of “random sampling” where the alternatives are random variables. When comparing any two alternatives, the decision maker samples each of the alternatives once and ranks them according to the comparison between the two realizations. Our main result is that when...