In this paper we study the effects of quality change on the price index for new passenger cars in Portugal for the years 1997-2001. Hedonic regression models are studied, giving particular emphasis to the relation between the form of the price index and the specification of the hedonic equation...

Resorting to input-output analysis, intersectoral linkages are investigated. For such assessment, the distinction between imported and domestically supplied inputs, which has been disregarded so far in empirical analysis, is crucial. Besides improving the measurement of domestic linkages, it...

The existence of comovement across different sectors is an important feature of the business cycle definition. The purpose of this work is to characterise the Portuguese sectoral business cycle, with particular emphasis on the comovement phenomenon, for the years 1953-2003 in terms of both GVA...

To investigate the time heterogeneity effects of fiscal policy in the U.S., we use a non-recursive, Blanchard and Perotti-like structural VAR with time-varying parameters, estimated through Bayesian simulation over the 1965:2-2009:2 period. Our evidence suggests that fiscal policy has lost some...

In this paper, standard SVAR tools and counterfactual simulation techniques are applied to study the behavior and countercyclical role of monetary and fiscal policies in the US. In order to set up the model properly, different issues raised by joint identification of monetary and fiscal policy...