THE WILLIAM DAVIDSON INSTITUTE AT THE UNIVERSITY OF MICHIGAN Measuring Underground … of this research as resident scholar at the Rockefeller Foundation Study Center in Bellagio, Italy. Ivica Urban is a … research assistant at the Institute of Public Finance, Zagreb, Croatia. The authors would like to thank the many professionals …

THE WILLIAM DAVIDSON INSTITUTE AT THE UNIVERSITY OF MICHIGAN Measuring Underground … of this research as resident scholar at the Rockefeller Foundation Study Center in Bellagio, Italy. Ivica Urban is a … research assistant at the Institute of Public Finance, Zagreb, Croatia. The authors would like to thank the many professionals …

approach to simulate the behavior of key macroeconomic variables in an inflation-targeting structural model for Brazil. Finally … also acknowledge to the participants of seminars at: CCBS Academic Workshop, University of Brasilia, University of São … exchange rates appear to have random walk-like properties, we cannot be sure that the econometric tests at our disposal are …

differentiate their products, which can benefit some consumers, but at a price. Oligopoly inter-dependence can also foster anti … ............................................................................................... 271 DAFFE/CLP(99)25 6 DAFFE/CLP(99)25 7 EXECUTIVE SUMMARY by the Secretariat Considering the discussion at the … oligopolists work out ways to increase the probability of detection and the certainty of punishment for cheating, all the while …

alone am responsible for any errors. Financial support from the Glucksman Institute for Research in Securities Markets at … November 30, 2001. We first describe the behavior of the implied volatility of NASDAQ and S&P 100 index options between … implied volatility of NASDAQ index option and that of S&P 100 index option changed at distinct rates over the period of …

found in a typical New Keynesian model. The closest work to this article is Kim (2003) who looks at how the cyclical nature … that getting the policy rule right is at least as important as getting the nominal frictions right. This paper emphasizes … the behavior of money and prices, but also report results for real variables and find results that are consistent with …

downloaded without charge from http://www.ecb.int or from the Social Science Research Network electronic library at http … extend to cointegrated vector error correction models (VECM) for panels with integrated data for which more work is needed in … methodology include looking at models of convergence, real exchange rates, exchange rate pass through and the issue of the …

partic- ular patient, she will use past data, even though no past case is identical to the one at hand. We model the … probability vectors fpjgj•m and the similarity weights fsjgj•m are derived from behavior. 2.3 Classification problems An important … simplexes. Assume next that the painter/reasoner’s eye is located at the origin. If case j were the only case in memory, the …

the authors and are not necessarily reflective of views at the Federal Reserve Bank of New York or the Federal Reserve … Svennson, Helene Rey, David Weinstein, and seminar audiences at Columbia University and Princeton University for valuable …. Producers in a industry with homogenous goods aim at keeping their price in line with their competitors’, leading them to …

from http://www.ecb.int or from the Social Science Research Network electronic library at http … persistence, i.e. the speed at which inflation adjusts to monetary and business cycle developments. In particular, policy makers … so persistent. At least unit roots are far in the tails of the distribution of the estimated roots of autoregressive …