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 … which observed inflation persistence at the aggregate level is due to aggregation and/or common unobserved factors. Our …

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 … which ‘observed’ inflation persistence at the aggregate level is due to aggregation and/or common unobserved factors. Our …

exchange rate uncertainty. Based on this micro foundation an aggregation approach is presented. Under uncertainty, intervals of … where the aggregation of microeconomic real options effects under uncertainty are relevant, they may even be of a more …

susceptible to asymmetric shocks. Inflation is in the process of converging in EAC, but the speed of convergence is slow. Time is …

This paper uses the BEEPS firm-level data to study the process of convergence of transition countries with developed … convergence of transition countries with developed market economies in a number of dimensions. The pattern of growth at the … activity taking place in 2002, the middle of the period analyzed. Throughout, the regional patterns suggest greater convergence …

long-run real income convergence and derive 67 comparable effect sizes. The precision-weighted estimate of beta convergence … is more consistent with endogenous self-reinforcing growth than with neoclassical convergence. Introducing a net … migration variable in a growth regression increases the estimate of beta convergence slightly. Studies that use panel models or …

advanced economies. We examine the extent of this convergence in the Czech Republic and Russia, economies that represent …