In impulse response analysis estimation uncertainty is typically displayed by constructing bands around estimated impulse response functions. These bands may be based on frequentist or Bayesian methods. If they are based on the joint distribution in the Bayesian framework or the joint asymptotic...

In impulse response analysis estimation uncertainty is typically displayed by constructing bands around estimated impulse response functions. These bands may be based on frequentist or Bayesian methods. If they are based on the joint distribution in the Bayesian framework or the joint asymptotic...

In der aktuellen Auseinandersetzung um ein Bündnis für Arbeit, die aus dem vielbeachteten Vorschlag des Vorsitzenden der Gewerkschaft IG-Metall Zwickel resultierte, werden eine Reihe von Modellen diskutiert, die letztlich zu mehr Beschäftigung führen sollen. Einem Aspekt der Diskussion soll...

This paper attempts to evaluate the impact of current and future immigration flows on major macroeconomic variables of the West German economy. The analysis is based on a macroeconometric disequilibrium model for the West German economy. This model is extended until 1995 and used for several...

The rising trends both in drug addiction and crime rates are of major public concern in Germany. Surprisingly, the economic theory of crime seems to ignore the drugs-crime nexus, whereas the criminological literature considers illicit drug use a main reason of criminal activities. This paper...

In impulse response analysis estimation uncertainty is typically displayed by constructing bands around estimated impulse response functions. These bands may be based on frequentist or Bayesian methods. If they are based on the joint distribution in the Bayesian framework or the joint asymptotic...

There is evidence that estimates of long-run impulse responses of structural vector autoregressive (VAR) models based on long-run identifying restrictions may not be very accurate. This finding suggests that using short-run identifying restrictions may be preferable. We compare structural VAR...

Topic modeling became an intensively researched area in economics, mainly due to the ever increasing availability of huge digital text information and the improvements in methods to analyze these datasets. In natural language processing, topic modeling describes a set of methods to extract the...

Methods for constructing joint confidence bands for impulse response functions which are commonly used in vector autoregressive analysis are reviewed. While considering separate intervals for each horizon individually still seems to be the most common approach, a substantial number of methods...

Summary Credit rationing is often considered as the outcome of asymmetric information between lenders and borrowers. The paper combines this aspect with a marginal price setting behavior of the banks. The resulting model describes adjustment processes between interbank rates, interest rates on...