In a recent paper Ramos and Silber (2005) used techniques developed in efficiency analysis to obtain estimates of human development obtained on the basis of Sen (1985) and Narayan et al. (2000) capability approach. In particular they propose to measure standard achievement and well being indexes...

This paper investigates the differences between real-time and ex-post output gap estimates using a newly-constructed international real-time dataset over the period from 1973:Q1 to 2012:Q3. We extend the findings in Orphanides and van Norden (2002) for the United States that the use of ex-post...

The purpose of the paper is to revisit the inflation–output gap relationship using a new approach known as the wavelet transform. This approach combines the classical time series analysis with frequency domain analysis and presents the advantages of assessing the co-movement of the two series...

The New Keynesian Phillips curve implies that the output gap, the deviation of the actual output from its natural level due to nominal rigidities, drives the dynamics of inflation relative to expected inflation and lagged inflation. This paper exploits the empirical success of the New Keynesian...

This paper examines the best common currency criteria for Asian countries through the regional cooperation in trade and investment, political and economic integration and investigates the benefits of a common currency by which the money inflows from developed countries to reduce the exchange...

The paper proposes a multi-dimensional decomposition of the changes in the Gini inequality index and the Sen–Shorrocks–Thon poverty index over time. The link among inequality change, re-ranking of individuals and income growth is explained by isolating the source and subgroup contributions...

In this paper we focus on tenant rents in Italy and compare results from several methods for the rent dynamic estimation. We first document the sources of data available and then introduce quality adjusted techniques, which enable us to separate the price variation due to qualitative changes in...

This paper establishes a new metafrontier directional technology distance function (MDDF) under a stochastic framework, rather than a deterministic setting like the one proposed by Battese et al. (2004). The new MDDF allows for calculating comparable technical efficiencies for banks under...

This paper investigates the consistency of efficiency scores obtained from the stochastic frontier analysis and data envelopment analysis methods. We estimate cost efficiency and economies of scale based on an unbalanced panel data set of Chinese banks over the period 1994 to 2007. The results...

This paper examines the production decision of the competitive firm under uncertainty when the firm is not only risk averse but also regret averse. Regret-averse preferences are characterized by a modified utility function that includes disutility from having chosen ex-post suboptimal...