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 …

of overall HICP (direct approach) and whether the aggregation of country forecasts improves upon the forecast of the euro … the differences are only marginal for the countries. The aggregation of country forecasts does not seem to improve upon …

property of consistency in aggregation. This property, however, is indispensable for economic studies that attempt to …. The present paper introduces a thoroughly motivated formal definition of consistency in aggregation and proves that …, contrary to general perception, the three superlative price indices can be considered as consistent in aggregation. Furthermore …

that the more aggregate the data, the closer the distribution to perfect staggering. This result holds for both aggregation …

Aggregation of international prices in empirical work is generally based on well known index number formulas. However …