This working paper is the first draft of an overview and commentary on the papers to appear in a Macroeconomic Dynamics Special Issue on Measurement with Theory. The included papers in the special issue are part of a larger initiative to promote "measurement with theory" in economics and planned...

This study investigates the significance of Divisia monetary aggregates in formulating the monetary policy in Indonesia. A money demand function has been constructed to compare the relative performance for Simple-sum M1 and M2 (SSM1 and SSM2) and Divisia M1 and M2 (DM1 and DM2) monetary...

Among the many demand specifications in the literature, the Rotterdam model and the Almost Ideal Demand System (AIDS) have particularly long histories, have been highly developed, and are often applied in consumer demand systems modeling. Using Monte Carlo techniques, we seek to determine which...

In business cycle research, smoothing data is an essential step in that it can influence the extent to which model-generated moments stand up to their empirical counterparts. To demonstrate this idea, we compare the results of McDermott’s (1997) modified HP-filter with the conventional...

This paper examines the modelling complications that appear when some macroeconomic behavioral relationships interact with structural variables, even under a given A matrix. The main problem is concretized for the situation when, a) the final consumption, gross fixed capital formation, inventory...

Since China’s enactment of the Reform and Opening-Up policy in 1978, China has become one of the world’s fastest growing economies, with an annual GDP growth rate exceeding 10% between 1978 and 2008. But in 2015, Chinese GDP grew at 7%, the lowest rate in five years. Many corporations...

Full-text of this article is not available in this e-prints service. This article was originally published following peer-review in Ironmaking & Steelmaking, published by and copyright Maney Publishing.

We develop a new autoregressive conditional process to capture both the changes and the persistency of the intraday seasonal (U-shape) pattern of volatility in essay 1. Unlike other procedures, this approach allows for the intraday volatility pattern to change over time without the filtering...

CAT-Bonds und Wetterderivate sind die Endprodukte eines Verbriefungprozesses, der nicht handelbare Risikofaktoren (Wetterschäden oder Naturkatastrophenschäden) in handelbare Finanzanlagen verwandelt. Als Ergebnis sind die Märkte für diese Produkte in der Regel unvollständig. Da geeignete...