New-Keynesian models are characterized by the presence of expectations as explanatory variables. To use these models for policy evaluation, the econometrician must estimate the parameters of expectation terms. Standard estimation methods have several drawbacks, including possible lack of...

This paper aims at determining whether economic, financial and monetary integration on the one hand, and institutional factors on the other, may have led to gradual convergence in key fiscal variables across the euro area over the recent period, bringing fiscal positions closer together. The...

In this paper we present two new composite leading indicators of economic activity in Germany estimated using a dynamic factor model with and without regime switching. The obtained optimal inferences of business cycle turning points indicate that the two-state regime switching procedure leads to...

We introduce a novel estimator for the number of common dynamic shocks for large dynamicfactor models. The noticeable feature of our estimator is that it can be applied to single frequencies as well as to given frequency bands, making it extremely suited to disentangle the shocks a acting the...

Systems of civil service reflect specific needs, traditions and institutional fundamentals of every state. The paper provides an outline of the European context of civil service, characteristics of basic features of civil service in EU countries, and evaluation of selected determinants of civil...