Title:Comparing Projections and Outcomes of IMF-Supported Programs
Author(s):MUSSO, Alberto; PHILLIPS, S.Date:2002Type of Publication:ArticleAbstract:Program numbers from a sample of IMF-supported programs are studied as if they were forecasts, through statistical analyses of the relationship between projections and outcomes for growth, inflation, and three balance of ...
Title:Comparison of Tests for the Cointegrating Rank of a VAR Process with a Structural Shift
Author(s):LUETKEPOHL, Helmut; SAIKKONEN, Pentti; TRENKLER, CarstenDate:2003Type of Publication:ArticleAbstract:Two different types of tests for the cointegrating rank of vector autoregressive processes with a deterministic shift in the level have been proposed in the literature. The first proposal is based on the likelihood ratio ...
Title:Comparison of Unit Root Tests for Time Series with Level Shifts
Author(s):LANNE, Markku; LUETKEPOHL, Helmut; SAIKKONEN, PenttiDate:2002Type of Publication:ArticleAbstract:Unit root tests are considered for time series which have a level shift at a known point in time. The shift can have a very general nonlinear form, and additional deterministic mean and trend terms are allowed for. Prior ...
Title:Complex Networks and Local Externalities: A strategic approach
Author(s):VEGA-REDONDO, Fernando; GALEOTTI, AndreaDate:2011Type of Publication:ArticleAbstract:In this paper, we illustrate a new approach to the study of how local externalities shape agents’ strategic behavior when the underlying network is volatile and complex. We consider a large population that interacts as ...
Title:Complexity, Wages, and the O-Ring Production Function: Evidence From Finnish Panel Data
Author(s):PEKKARINEN, TuomasDate:2002Type of Publication:ArticleAbstract:This paper is an empirical study on the effect of complexity of the production porcess on individual hourly wages. According to a model-due to Kremer [Quarterly Journal of Economics 108 (1993) 551] and Dalmazzo [Dalmazzo, ...
Title:Constructing Historical Euro-Zone Data
Author(s):BEYER, Andreas; DOORNIK, Jurgen A.; HENDRY, David F.Date:2001Type of Publication:ArticleAbstract:Existing methods of reconstructing historical Euro-zone data by aggregation of the individual countries' aggregate data raises numerous difficulties, especially due to past exchange rate changes. The approach proposed here ...
Title:Convergence at Last? Evidence From Transition Countries
Author(s):POLANEC, SasoDate:2004Type of Publication:ArticleAbstract:This article reexamines the hypotheses of absolute and conditional convergence for a sample of twenty-five transition countries over the period from 1990 to 2002. After splitting the sample into three four-year periods, ...
Title:Convergence in Monetary Inflation Models with Heterogeneous Learning Rules
Author(s):EVANS, George W.; HONKAPOHJA, Seppo M. S.; MARIMON, RamonDate:2001Type of Publication:ArticleAbstract:Inflation and the monetary financing of deficits are analyzed in a model in which the deficit is constrained to be less than a given fraction of a measure of aggregate market activity. Depending on parameter values, the ...
Title:Country Asymmetries, Endogenous Product Choice and the Timing of Trade Liberalization
Author(s):CABRALES, Antonio; MOTTA, MassimoDate:2001Type of Publication:ArticleAbstract:We analyze the effects of trade liberalization on firms' decisions and profits in a vertical product differentiation model with countries which have different characteristics. Firms decide product specifications at the ...
Title:Credit and Risk in Rural Developing Economies
Author(s):OSBORNE, TheresaDate:2006Type of Publication:ArticleAbstract:This paper examines the theory of credit as a means of raising the productivity and living standards of producer households who face significant uncertainty. A dynamic model with uncertainty is developed in which households ...