The paper reviews adjustment dynamics in the EMU on the basis of estimated DSGE models for four large EA Member States (DE, FR, IT, ES). We compare the response of the four countries to identical shocks and find a particularly strong response of employment and wages in ES, a high sensitivity of...

We propose a framework for estimation and inference about the parameters of an economic model and predictions based on it, when the model may be misspecified. We rely on a local asymptotic approach where the degree of misspecification is indexed by the sample size. We derive formulas to...

The paper reviews adjustment dynamics in the EMU on the basis of estimated DSGE models for four large EA Member States (DE, FR, IT, ES). We compare the response of the four countries to identical shocks and find a particularly strong response of employment and wages in ES, a high sensitivity of...

We propose a framework for estimation and inference about the parameters of an economic model and predictions based on it, when the model may be misspecified. We rely on a local asymptotic approach where the degree of misspecification is indexed by the sample size. We derive formulas to...

Abstract The attributable fraction is a common measure in epidemiological research, which quantifies the public health impact of a particular exposure on a particular outcome. Often, the exposure effect may be mediated through a third variable, which lies on the causal pathway between the...

Abstract Non-manipulable factors, such as gender or race have posed conceptual and practical challenges to causal analysts. On the one hand these factors do have consequences, and on the other hand, they do not fit into the experimentalist conception of causation. This paper addresses this...