Search
Now showing items 51-60 of 98
Employment comovements at the sectoral level over the business cycle
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2009-12)
This paper extends the technique suggested by den Haan (2000) to investigate contemporaneous as well as lead and lag correlations among economic data for a range of forecast horizons. The technique provides a richer picture ...
Switching Equilibria: The Present Value Model for Stock Prices Revisited
(2002-07)
This paper analyzes the different dynamic features displayed by alternative RE equilibria and how these features change for small perturbations of the dividend process parameters. Using historical US data and structural ...
The Importance of Stock Market Returns in Estimated Monetary Policy Rules: a Structural Approach
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2006)
This paper estimates a standard version of the New Keynesian Monetary (NKM) model augmented with financial variables in order to analyze the relative importance of stock market returns and term spread in the estimated U.S. ...
The role of the term spread in an augmented Taylor rule: An empirical investigation
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2003-04)
Using US data for the period 1967:5-2002:4, this paper empirically investigates the performance of an augmented version of the Taylor rule (ATR) that (i) allows for the presence of switching regimes, (ii) considers the ...
Switching Regimes in the Term Structure of Interest Rates During U.S. Post-War: A case for the Lucas proof equilibrium?
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2002-08)
Farmer (1991) suggests that in a model in which there are multiple rational expectations (RE) equilibria agents may find it useful to coordinate their expectations in a unique RE equilibrium which is
immune to the Lucas ...
Trend analysis in two standard growth models
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2002-07)
This paper analyzes the trend processes characterized by two standard growth models using simple econometrics. The first model is the basic neoclassical growth model that postulates a deterministic trend for output. The ...
Is there a Phillips Curve in the US and the EU15 Countries? An empirical investigation
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2002-08)
This paper studies the comovement between output and inflation in the EU15 countries. Following den Haan (2000), I use the correlations of VAR forecast errors at different horizons in order to analyze the output-inflation ...
Social Security, Education, Retirement and Growth
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2008-02)
In this paper we analyze the effects of social security policies in an unfunded, earnings-related social security system on the incentives to education investment and voluntary retirement, on growth and on income inequality. ...
R&D Policy in Economies with Endogenous Growth and Non-Renewable Resources
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2007-10)
The aim of this paper is to analyze how active R&D policies affect the growth rate of an economy with endogenous growth and non-renewable resources. We know from Scholz and Ziemens (1999) and Groth (2006) that in infinitely ...
Growth in an oil abundant economy: The case of Venezuela
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2005-09)
Venezuela's growth experience over the past fifty years is characterized by a high economic growth rate from 1950 to 1970 and a low economic growth rate in the last thirty years. Although Venezuela is an oil abundant ...