A macroeconometric model for the Euro economy
Christian Dreger
IWH Discussion Papers,
No. 181,
2003
Abstract
In this paper a structural macroeconometric model for the Eurozone is presented. In opposite to the multi country modelling approach, the model relies on aggregate data on the supra-national level. Due to nonstationarity, all equations are estimated in an error correction form. The cointegrating relations are derived jointly with the short-run dynamics, avoiding the finite sample bias of the two step Engle Granger procedure. The validity of the aggregated approach is confirmed by out-of-sample forecasts and two simulation exercises. In particular the implications of a lower economic recovery in the US and a shock in the nominal Euro area interest rate are discussed.
Read article
Simultaneity in multiple equation hybrid models with endogenous dummy regressors
Joachim Wilde
Allgemeines Statistisches Archiv,
No. 2,
2001
Abstract
Read article
Identification of multiple equation probit models with endogenous dummy regressors
Joachim Wilde
Economics Letters,
No. 69,
2000
Abstract
Read article
