The methods listed in the title are compared by means of a simulation study and a real world application. The aspects compared via simulations are the performance of the tests for the cointegrating rank and the "quality" of the estimated cointegrating space. The subspace algorithm method,...

This paper analyses whether the effects of the monetary policy of the European Central Bank (ECB) may be different across Euro area countries. First, the limitations in the current empirical literature are highlighted. The paper then suggests how to deal with these limitations and provides new...

Local amenities play an important role in determining where we choose to live and our overall quality of life (QOL). In many cases, however, amenities do not have prices and will therefore be underprovided by the market. In this paper, we use individual and county level data for England and...

The two main competing theories for the outward shift in the uv-curve are investigated: increased separations from employment at a given employment level (reallocation) and decreased levels of hires, given unemployment and vacancies (mismatch). Shifts in the unemployment-vacancy (uv)-curve and...

This paper proposes a dating algorithm based on an appropriately defined Markov chain that enforces alternation of peaks and troughs, and duration constraints concerning the phases and the full cycle. The algorithm, which implements Harding and Pagan's non-parametric dating methodology, allows...

In this paper, we consider tests for a break in the level of a series at an unknown point in time. It is often the case that uncertainty exists concerning the order of integration of the series; consequently, we focus on tests that are applicable when the order of integration is not known. The...

The determinants of students' propensity to drop out of university are analysed using individual records of all students passing through the central applications process in 1993. The data set comprises about 100,000 individuals and allows a much more thorough analysis of student wastage than has...

We characterize the restrictions imposed by the minimal I(2)-to-I(1) transformation that underlies much applied work, e.g. on money demand relationships or open-economy pricing relationships. The relationship between the parameters of the original I(2) vector autoregression, including the...