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of reduction, summarizes the approach of general-to-specific modeling, and discusses the econometrics of model selection …This paper discusses the econometric methodology of general-to-specific modeling, in which the modeler simplifies an …, noting that general-to-specific modeling is the practical embodiment of reduction. This paper then summarizes fifty …
Persistent link: https://www.econbiz.de/10014062671
This paper derives and presents mean leads and lags as well as patterns of relative importance weights implied by the PAC (polynomial-adjustment-cost) error-correction equations which form the core of the FRB/US model at the Federal Reserve Board. Relative importance weights measure the...
Persistent link: https://www.econbiz.de/10014080553
evaluating survey forecasts and modeling expectations. For both of these types of empirical exercises, results suggest that the …
Persistent link: https://www.econbiz.de/10014118806
Estimated dynamic stochastic equilibrium (DSGE) models are now widely used for empirical research in macroeconomics as well as for quantitative policy analysis and forecasting at central banks around the world. This paper reviews recent advances in the estimation and evaluation of DSGE models,...
Persistent link: https://www.econbiz.de/10014186380
Modeling policy effects in the context of high-dimensional data requires a balanced consideration of omitted …
Persistent link: https://www.econbiz.de/10015054100
This article outlines work in progress on a study of technological choice in the context of North-South development. Its main purpose is to describe the methodology being developed in the pilot phase of the study. This is of interest because it links together a number of analytic...
Persistent link: https://www.econbiz.de/10005837262
The theorem of existence of the ruptures in the probability scale has been proved for a discrete case. The theorem can be used, e.g., in economics and forecasting. It can assist to solve paradoxes such as Allais paradox and the “four-fold-pattern” paradox and to create the correcting formula...
Persistent link: https://www.econbiz.de/10008526960
The objective of this paper is twofold. First, to compare the model of financial stabilization in the interwar period in France (a country in the “core”) with that in Bulgaria (a peripheral country). Second, applying modern econometric techniques (VAR models) we would like to “test...
Persistent link: https://www.econbiz.de/10004972561
The main objective of this paper is to estimate a statistical model that incorporates information at different levels: collateral, facility, industry, zone and the macro economy to predict the Recovery Rates which will enable the bank to arrive at the Loss Given Default figure that would help to...
Persistent link: https://www.econbiz.de/10005619574
The purpose of this study was to examine interrelationship and causal linkages between socioeconomic and environmental variables in OECD countries. To aid this study, a LISREL modelling tool was implemented. The findings of the study indicated that gross public debt increases with deterioration...
Persistent link: https://www.econbiz.de/10005619745