Now showing items 4-6 of 6

    • On Identification of Bayesian DSGE Models 

      Koop, Gary; Pesaran, M. Hashem; Smith, Ron P. (Faculty of Economics, 2011-03-20)
      In recent years there has been increasing concern about the identification of parameters in dynamic stochastic general equilibrium (DSGE) models. Given the structure of DSGE models it may be difficult to determine whether ...
    • Pairwise Tests of Purchasing Power Parity Using Aggregate and Disaggregate Price Measures 

      Pesaran, M. Hashem; Smith, Ron P.; Yamagata, Takashi; Hvozdyk, Lyudmyla (Faculty of Economics, 2006)
      In this paper we adopt a new approach to testing for purchasing power parity, PPP, that is robust to base country effects, cross-section dependence, and aggregation. We test for PPP applying a pairwise approach to the ...
    • What if the UK has Joined the Euro in 1999? An Empirical Evaluation using a Global VAR 

      Pesaran, M. Hashem; Smith, L. Vanessa; Smith, Ron P. (Faculty of Economics, 2006-03-14)
      We provide a conceptual framework to analysis counterfactual scenarios using macroeconometric models. We consider UK entry to the euro. We derive conditional probability distributions for the difference between the future ...