Money serves as an intermediate target variable for transmitting monetary policy actions in macroeconomic management. In this connection, no other macro-behavioural function is subjected to more modelling modifications and regression rigors than the macro-money demand function. Monetary policy...

Die Weltkonjunktur hat im laufenden Jahr weiter Tritt gefasst, unterstützt von expansiven Impulsen der Geldpolitik und der staatlichen Konjunkturprogramme. Nach Ländern und Regionen differenziert ist die Dynamik der Erholung allerdings recht unterschiedlich. So hat sich das vom ifo Institut...

The paper focuses on the recent pattern of government expenditure for developing countries and estimates the determinants which may have influenced government expenditure. Using a panel data set for 111 developing countries from 1984 to 2004, this study finds evidence that political and...

The article focuses on the basic traits of theoretical concepts and modifying trends outlined in the empirical expression of the regularities which govern the cycle development of the modern stage. The principles of cyclic recurrence are interpreted on the basis of traditional understanding of...

This text presents the latest economic forecast conducted by the KOF Swiss Economic Institute at the ETH Zurich on 21 June 2013. After an introduction describing the starting points and crucial assumptions underlying the forecast, we summarise the key results for Switzerland. Subsequently, we...

The increasing availability of geospatial data (i.e., exact longitudes and latitudes for each house) has the potential to improve the quality of house price indexes. It is not clear though how best to use this information. We show how geospatial data can be included as a nonparametric spline...

In this paper, we try to understand whether measures of GDP per capita taken from the national accounts or measures of mean income or consumption derived from household surveys better proxy for true income per capita. We propose a data-driven method to assess the relative quality of GDP per...

El ensayo presentado por los profesores Francisco Giraldo y Dolly Camacho es un avance de investigación del convenio: "Alianza institucional UPTC–DANE, para el desarrollo de procesos de medición sectorial en el departamento de Boyacá". En el documento se incluyen los resultados del primer...

While measured remittances by migrant workers have soared in recent years, macroeconomic studies have difficulty detecting their effect on economic growth. We review existing explanations for this puzzle and propose three new ones. First, we offer evidence that a large majority of the recent...

Ghana’s largest and most important creditor for the past three decades has been the International Development Association (IDA), the soft loan window of the World Bank. That will soon come to an end. The combination of Ghana’s rapid economic growth and the recent GDP rebasing exercise means...