Now showing items 1-6 of 6
Term Structure and the Estimated Monetary Policy Rule in the Eurozone
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2008)
In this paper we estimate a standard version of the New Keynesian Monetary (NKM) model augmented with term structure in order to analyze two issues. First, we analyze the effect of introducing an explicit term structure ...
The Comovement between Monetary and Fiscal Policy Instruments during the Post-War Period in the U.S.
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2008-04)
This paper empirically studies the dynamic relationship between monetary and fiscal policies by analyzing the comovements between the Fed funds rate and the primary deficit/output ratio. Simple economic thinking establishes ...
Selection of the number of frequencies using bootstrap techniques in log-periodogram regression
The choice of the bandwidth in the local log-periodogram regression is of crucial importance for estimation of the memory parameter of a long memory time series. Different choices may give rise to completely different ...
Economic Growth and Electricity Consumption in 12 European Countries: A Causality Analysis Using Panel Data
We apply recent panel methodology to investigate the relationship between electricity consumption and real GDP for a set of 12 European Union countries using annual data for the period 1970-2004. Recently developed tests ...
A note on collusion sustainability with optimal punishments and detection lags
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2008-09)
In this note we characterize optimal punishments with detection lags when the market consists of n oligopolistic firms. We extend a previous note by Colombo and Labrecciosa (2006) [Colombo, L., and Labrecciosa, P., 2006. ...
Income risk of EU coal-fired power plants after Kyoto
Coal-fired power plants may enjoy a significant advantage relative to gas plants in terms of cheaper fuel cost. Still, this advantage may erode or even turn into disadvantage depending on CO2 emission allowance price. This ...