.S. manufacturing differ markedly even though response parameters are similar across industries. A similar aggregation effect is noted … estimation procedures. Observationally equivalent aggregation results can be generated by errors in variables models (see Aigner …

aggregate production functions by deriving their first- and second-order properties. Our aggregation formulas provide non … sufficient statistics. They allow us to generalize existing aggregation theorems and to derive new ones. We relate our results to …

from VAR estimates. The extent of this “missing persistence bias” decreases with the level of aggregation, yet convergence … vary systematically with levels of aggregation should be examined with care since the differential speeds may disappear …

, aggregation issues are considered. First, the paper presents a number of negative results. Then, several simulations aimed at …

usefully aggregated into a single sector model. Such an aggregation misleads the economist as to the economy's underlying …

This article summarizes our views on the role of an "aggregation bias" in explaining the PPP Puzzle, in response to the … counter-examples which are not empirically relevant; (ii) simulation results minimizing the extent of "aggregation bias"; (iii … corrections. We conclude, as in our original paper, that "aggregation bias" goes a long way towards explaining the PPP puzzle …

This paper examines the quantitative importance of temporal aggregation bias in distorting parameter estimates and … hypothesis tests. Our strategy is to consider two empirical examples in which temporal aggregation bias has the potential to … example investigates the possibility that temporal aggregation bias can lead to spurious Granger causality relationships. The …