Abstract Few empirical studies have been conducted to analyse the disparities in health variables affecting immigrants in a given country. To our knowledge, no theoretical analysis has been conducted to explain health disparities for immigrants between regions in the same country that differs in...

What is the size of the government-spending multiplier in an open economy when the Zero Lower Bound (ZLB) on the nominal interest rate is binding? Using a theoretical framework, in a closed economy, Christiano, Eichenbaum, and Rebelo (2011), show that, when the nominal interest rate is binding,...

In this paper we study the selection of the number of primitive shocks in exact and approximate factor models in the presence of structural instability. The empirical analysis shows that the estimated number of factors varies substantially across several selection methods and over the last 30...

This paper proposes a simple model of a mechanism through which exchange rate can affect the link between output and government spending in zero lower bound (ZLB) periods. In our proposed model, the expected near-future interest rate is added as an endogenous variable. Unlike existing AA-DD...

One important question in the DSGE literature is whether we should detrend data when estimating the parameters of a DSGE model using the moment method. It has been common in the literature to detrend data in the same way the model is detrended. Doing so works relatively well with linear models,...

Estimators of Dynamic Stochastic General Equilibrium (DSGE) Model parameters, as well as impulse response functions, can be wildly inaccurate when data used in the estimation process are de-trended; even if the data are de-trended in the same manner, the model is de-trended. However, little is...

This study uses a Lasso method to measure the macroeconomic network links among OECD member countries. We demonstrate that economic network connectedness among OECD member countries increases during periods of economic events that affect many of them, such as the subprime mortgage crisis and the...