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Summary Using a binary reference series based on the dating procedure of Artis, Kontolemis and Osborn (1997) different procedures for predicting turning points of the German business cycles were tested. Specifically, a probit model as proposed by Estrella and Mishkin (1997) as well as...
Persistent link: https://www.econbiz.de/10014609025
Summary This paper examines changes of the (West) German business cycle from 1958 to 2004. It starts with a multivariate linear discriminant analysis (LDA) based decomposition of the cycle into 4 phases (upswing, upper turning point, downswing, lower turning point). After examining...
Persistent link: https://www.econbiz.de/10014609184
Summary Generational accounting is - given the future demographic developments in OECD countries - an established tool to quantify the fiscal situation of public coffers. However, as all economic methods dealing with future developments it has critical points. One in particular is the...
Persistent link: https://www.econbiz.de/10014609187
Persistent link: https://www.econbiz.de/10000758847
This paper presents the European Commission's Global Multi-country model (the GM model). The GM model is an estimated multi-country DSGE model that can be used for spillover analysis, forecasting and medium term projections. Its development is jointly performed by the Joint Research Centre and...
Persistent link: https://www.econbiz.de/10012054701
This paper uses European micro-data to look at stylised facts of EU-wide income inequality during the 2006-2013 period. Our contribution is to bring together four elements of the analysis that has appeared only in separation so far. Our analysis is EU-wide, but regionally detailed, looks at the...
Persistent link: https://www.econbiz.de/10012054706
GDP growth differentials, and together with structural differences also contributed to differences in employment …
Persistent link: https://www.econbiz.de/10012054993
2014. Economic slumps are defined as abrupt interruptions of a period of growth by several regime switches. Slumps start … with a sharp contraction along with a trend break, which is followed by another switch when growth stabilizes again. The …, suggesting that institutions constraining leaders are important for stabilizing growth. This is particularly relevant for Sub …
Persistent link: https://www.econbiz.de/10012228613
The paper assesses the impact of adding information on financial cycles on the output gap estimates for eight advanced economies using two unobserved components models: a reduced form extended Hodrick-Prescott filter, and a standard semi-structural unobserved components model. To complement...
Persistent link: https://www.econbiz.de/10012320331