Central banks have long used dynamic stochastic general equilibrium (DSGE) models, which are typically estimated using Bayesian techniques, to inform key policy decisions. This paper offers an empirical strategy that quantifies the information content of the data relative to that of the prior...

Central banks have long used dynamic stochastic general equilibrium (DSGE) models, which are typically estimated using Bayesian techniques, to inform key policy decisions. This paper offers an empirical strategy that quantifies the information content of the data relative to that of the prior...

Member States of the European Union are autonomous when it comes to the design of their social protection systems. However, they are committed by a recommendation accepted by the European Council addressing the convergence of social protection objectives and policies. Besides, convergence of...