Large-dimensional dynamic factor models and dynamic stochastic general equilibrium models, both widely used in empirical macroeconomics, deal with singular stochastic vectors, i.e., vectors of dimension r which are driven by a q-dimensional white noise, with q r. The present paper studies...

Large-dimensional dynamic factor models and dynamic stochastic general equilibrium models, both widely used in empirical macroeconomics, deal with singular stochastic vectors, i.e., vectors of dimension r which are driven by a q-dimensional white noise, with q r. The present paper studies...

This comprehensive introduction to economic growth presents the main facts and puzzles about growth, proposes simple methods and models needed to explain these facts, acquaints the reader with the most recent theoretical and empirical developments, and provides tools with which to analyze policy...

From a general perspective, one could argue that large State transformations are reflect-ed in income, expenditure and employment. The information that the National Bureau of Statistics (Dane) have on income (tax and nontax) is accessible and more orderly than spending and employment. This...

The new century opened with an unprecedented declaration of solidarity and determination to rid the world of poverty. In 2000 the UN Millennium Declaration, adopted at the largest-ever gathering of heads of state, committed countries — rich and poor — to doing all they can to eradicate...

Accommodating people’s growing demands for their inclusion in society, for respect of their ethnicity, religion, and language, takes more than democracy and equitable growth. Also needed are multicultural policies that recognize differences, champion diversity and promote cultural freedoms, so...

The 1998 Report investigates the 20th century's growth in consumption, unprecedented in its scale and diversity. The benefits of this consumption have spread far and wide. More people are better fed and housed than ever before. Living standards have risen to enable hundreds of millions to enjoy...

Human Development, if not engendered, is endangered. That is the simple but far-reaching message of Human Development Report 1995. The Report analyses the progress made in reducing gender disparities in the past few decades, highlighting the wide and persistent gap between women's expanding...