This paper uses a multivariate generalisation of the Beveridge and Nelson methodology to model trends and cycles of business-sector labour productivity in the major OECD countries. The method implies that the trend is the long-term forecast of productivity, given all available information; the...

This paper uses a multivariate generalization of the Beveridge and Nelson methodology to model trends and cycles of business sector labour productivity in the major OECD countries. The method implies that the trend is the long-run forecast of productivity, given all available information; the...

This paper assesses the practical experience of monetary analysis at the ECB from the introduction of the euro in 1999 through 2006. The paper exploits a unique and rich real-time data set, containing both the vintages of data and the economic models that have been employed in the ECB's monetary...