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The practice of trade cost measurement faces several challenges related to data quality, methodology and theory; but …
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Growing international integration in trade and finance can challenge the measurement of external accounts. This paper … account balances. The framework allows to derive a precise definition of measurement distortions and an empirical strategy for … discuss how merchanting and profit-shifting activities could lead to measurement distortions. We suggest areas for future …
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We build a factor-augmented interacted panel vector-autoregressive model of the Euro Area (EA) and estimate it with Bayesian methods to compute government spending multipliers. The multipliers are contingent on the overall monetary policy stance, captured by a shadow monetary policy rate. In the...
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