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Aggregation in large dynamic panels
Pesaran, Mohammad Hashem; Chudik, Alexander - 2011
This paper considers the problem of aggregation in the case of large linear dynamic panels, where each micro unit is … Pesaran (2003), an optimal aggregate function is derived, and the limiting behavior of the aggregation error is investigated … which observed inflation persistence at the aggregate level is due to aggregation and/or common unobserved factors. Our …
Persistent link: https://www.econbiz.de/10010285520
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Aggregation in large dynamic panels
Pesaran, Mohammad Hashem; Chudik, Alexander - 2011
This paper considers the problem of aggregation in the case of large linear dynamic panels, where each micro unit is … Pesaran (2003), an optimal aggregate function is derived, and the limiting behavior of the aggregation error is investigated … which 'observed' inflation persistence at the aggregate level is due to aggregation and/or common unobserved factors. Our …
Persistent link: https://www.econbiz.de/10010285540
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Aggregation in Large Dynamic Panels
Pesaran, M.H.; Chudik, A. - Faculty of Economics, University of Cambridge - 2011
This paper considers the problem of aggregation in the case of large linear dynamic panels, where each micro unit is … Pesaran (2003), an optimal aggregate function is derived, and the limiting behavior of the aggregation error is investigated … which 'observed' inflation persistence at the aggregate level is due to aggregation and/or common unobserved factors. Our …
Persistent link: https://www.econbiz.de/10009024878
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Understanding Price Variation Across Stores and Supermarket Chains: Some Implications for CPI Aggregation Methods
Ivancic, Lorraine; Fox, Kevin J. - School of Economics, UNSW Business School - 2010
The empirical literature on price indices consistently finds that aggregation methods have a considerable impact … the appropriateness of aggregation. A hedonic regression framework is used to test for item homogeneity across four … supermarket chains and across stores within each of these supermarket chains. We find empirical support for the aggregation of …
Persistent link: https://www.econbiz.de/10008725756
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The Norwegian productivity puzzle – not so puzzling after all?
Brasch, Thomas von - Statistisk Sentralbyrå, Government of Norway - 2015
The Norwegian productivity puzzle is rooted in three seemingly contradictory “facts”: First, Norway is one of the most productive OECD countries. Second, Norway has experienced high growth in productivity. Third, Norway has a relatively low level of R&D intensity. In this article, I show...
Persistent link: https://www.econbiz.de/10011165633
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A conceptual note on the aggregation of international prices using index numbers
Benedictow, Andreas; Boug, Pål - Statistisk Sentralbyrå, Government of Norway - 2011
Aggregation of international prices in empirical work is generally based on well known index number formulas. However …
Persistent link: https://www.econbiz.de/10009493365
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Inflation Dynamics and Real Marginal Costs: New Evidence from U.S. Manufacturing Industries
Petrella, Ivan; Santoro, Emiliano - Økonomisk Institut, Københavns Universitet - 2011
This paper deals with the analysis of price-setting in U.S. manufacturing industries. Recent studies have heavily criticized the ability of the New Keynesian Phillips curve (NKPC) to fit aggregate inflation [see, e.g., Rudd and Whelan, 2006, Can Rational Expectations Sticky-Price Models Explain...
Persistent link: https://www.econbiz.de/10010612963
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Aggregation in Large Dynamic Panels
Pesaran, Hashem; Chudik, Alexander - Institute for the Study of Labor (IZA) - 2011
This paper considers the problem of aggregation in the case of large linear dynamic panels, where each micro unit is … Pesaran (2003), an optimal aggregate function is derived, and the limiting behavior of the aggregation error is investigated … which ‘observed’ inflation persistence at the aggregate level is due to aggregation and/or common unobserved factors. Our …
Persistent link: https://www.econbiz.de/10008839293
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Aggregation in Large Dynamic Panels
Pesaran, Hashem M.; Chudik, Alexander - CESifo - 2011
This paper considers the problem of aggregation in the case of large linear dynamic panels, where each micro unit is … Pesaran (2003), an optimal aggregate function is derived, and the limiting behavior of the aggregation error is investigated … which ‘observed’ inflation persistence at the aggregate level is due to aggregation and/or common unobserved factors. Our …
Persistent link: https://www.econbiz.de/10008853858
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Forecasting economic aggregates by disaggregates
Hendry, David F.; Hubrich, Kirstin - 2006
We suggest an alternative use of disaggregate information to forecast the aggregate variable of interest, that is to include disaggregate information or disaggregate variables in the aggregate model as opposed to first forecasting the disaggregate variables separately and then aggregating those...
Persistent link: https://www.econbiz.de/10011604635