This article is concerned with disequilibrium regime switching model to capture different regimes in the US gasoline …

This paper deals with instability in regression coefficients. We propose a Bayesian regression model with time …-varying coefficients (TVC) that allows to jointly estimate the degree of instability and the time-path of the coefficients. Thanks to the … compare favorably to those of other methods commonly employed to deal with parameter instability. A distinguishing feature of …

We study a model in which two players with opposing interests try to alter a status quo through instability …-generating actions. We show that instability can be used to secure longer-term durable changes, even if it is costly to generate and does … not generate short-term gains. In equilibrium, instability generated by a player decreases when the status quo favors them …

In January 2014, the European Commission proposed a framework for its climate and energy policy up to 2030. It includes …, exports, and employment. The German federal government should continue its commitment to an ambitious European policy to …

that fix exchange rates and those that target inflation. Inflation targeting is a more durable policy; no country has yet … monetary regimes for comparable countries. Regime duration also matters in monetary policy; older regimes are typically more …