In this article we further develop the suggestion of obtaining stylized facts on comovement on the basis of prewhitened time series proposed in André, Pérez and Martín (2002). Firstly, we show some examples on the robustness of the method. Secondly, we test the relevance of such a proposal by...

This paper looks at public and private sector wages interactions since the 1960s in the euro area, euro area countries and a number of other OECD countries. It focuses on co-movements and causal relationships. To obtain the most robust results possible, we apply a number of alternative empirical...

We characterize the balanced growth path of the basic neoclassical growth economy using standard, almost linear numerical solution methods, as well as the parameterized expectations approach, which preserves the nonlinearity in the model. We also apply the same methods after adding indivisible...

In this paper we analyze the convergence properties of the moving bounds algorithm to initialize the Parameterized Expectations Algorithm suggested by Maliar and Maliar (2003) [Journal of Business and Economic Statistics 1, pp. 88-92]. We carry out a Monte Carlo experiment to check its...

This paper presents an optimal fiscal policy response to address the basic tradeoff between the automatic stabilisation properties of budgets and the long run fiscal positions. The framework is an overlapping generations model `a la Weil (1989), extended to account for stochastic endowments and...

In this paper I present a proposal to obtain appropriate initial conditions when solving general equilibrium rational expectations models with the Parameterized Expectations Algorithm. The proposal is based on a log-linear approximation to the model under study, so that it can be though of as a...

This paper analyses the level of inequality in Spain and how it evolved over the course of the past crisis and the early stages of the current recovery. To this end, it first introduces the various dimensions of wage, income, consumption and wealth inequality, and studies how they have...