This paper considers the problem of aggregation in the case of large linear dynamic panels, where each micro unit is … Pesaran (2003), an optimal aggregate function is derived, and the limiting behavior of the aggregation error is investigated … properties of aggregate variables from .a very large scale dynamic, econometric model., and considers the time profiles of the …

, time-invariant aggregation weights. In this study a framework for nonlinear contemporaneous aggregation with possibly …Despite the fact that many aggregates are nonlinear functions and the aggregation weights of many macroeconomic … aggregates are time-varying, much of the literature on forecasting aggregates considers the case of linear aggregates with fixed …

This note develops a flexible methodology for splicing economic time series that avoids the extreme assumptions … persistence of the factors that account for the discrepancy between the two series that emerges at their linking point. The time …

gasoline price forecasts are feasible in real time at horizons up to two years, as are substantial increases in directional …

this paper, we investigate the sensitivity of standard gravity estimation to spatial aggregation. We build a model in which … on border effects in domestic and international trade. Our theory shows that larger countries are systematically … associated with smaller border effects. The reason is that due to spatial frictions, aggregation across space increases the …

desirable policies and aim at manipulating information aggregation by misrepresenting their private information. We show that …

effects, cross-section dependence, and aggregation. Given data on N + 1 countries, i, j = 0, 1, 2, ..., N, the standard …

when the private information arrives in time to rescale the agent’s effort. Rescaling is more effective than pure monetary …

, which are charged according to the time spent in a museum. This scheme has a number of notable advantages, in particular the …