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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
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
to forecasting HICP inflation, our analysis suggests to favor the aggregation of subindices forecasts. Furthermore, the …
Persistent link: https://www.econbiz.de/10013370008
Aggregation of international prices in empirical work is generally based on well known index number formulas. However …
Persistent link: https://www.econbiz.de/10011968426
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 that...
Persistent link: https://www.econbiz.de/10011968566
that the more aggregate the data, the closer the distribution to perfect staggering. This result holds for both aggregation …
Persistent link: https://www.econbiz.de/10011506637
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
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
The issue of forecast aggregation is to determine whether it is better to forecast a series directly or instead … results, it is generally accepted that forecast aggregation is an empirical issue. Empirical results in the literature often … go unexplained. This leaves forecasters in the dark when confronted with the option of forecast aggregation. We take our …
Persistent link: https://www.econbiz.de/10011605411
that the more aggregate the data, the closer the distribution to perfect staggering. This result holds for both aggregation …
Persistent link: https://www.econbiz.de/10005001398