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Klette, Tor Jakob; Raknerud, Arvid - Statistisk Sentralbyrå, Government of Norway - 2002

How do firms differ, and why do they differ even within narrowly defined industries? Using evidence from six high-tech, manufacturing industries covering a 24-year period, we show that differences in sales, materials, labor costs and capital across firms can largely be summarized by a single,...

Persistent link: https://www.econbiz.de/10004980646

A State Space Approach for Estimating VAR Models for Panel Data with Latent Dynamic Components

Raknerud, Arvid - Statistisk Sentralbyrå, Government of Norway - 2001

The econometric literature offers various modeling approaches for analyzing micro data in combination with time series of aggregate data. This paper discusses the estimation of a VAR model that allows unobserved heterogeneity across observation unit, as well as unobserved time-specific...

Persistent link: https://www.econbiz.de/10004980841

Estimation of Time Series of Latent Variables in an Accounting System Petrol Consumption of Norwegian Households 1973-1995

Aasness, Jørgen; Belsby, Liv - Statistisk Sentralbyrå, Government of Norway - 1997

We present an approach for estimating time series of a set of latent variables satisfying accounting identities. We concentrate on a simple case study and comment on possible generalizations. The model consists of three main parts: (i) A system of accounting identities, e.g., a subsystem of the...

Persistent link: https://www.econbiz.de/10004980884

Indirect inference methods for stochastic volatility models based on non-Gaussian Ornstein-Uhlenbeck processes

Raknerud, Arvid; Skare, Øivind - Statistisk Sentralbyrå, Government of Norway - 2009

This paper aims to develop new methods for statistical inference in a class of stochastic volatility models for financial data based on non-Gaussian Ornstein-Uhlenbeck (OU) processes. Our approach uses indirect inference methods: First, a quasi-likelihood for the actual data is estimated. This...

Persistent link: https://www.econbiz.de/10008556607

Modelling the heuristic dynamics of the wage and price curve model of equilibrium unemployment

Kolsrud, Dag; Nymoen, Ragnar - Statistisk Sentralbyrå, Government of Norway - 2012

wage scope (price curve), which jointly determine the NAIRU. The heuristics of the model states that unless the rate of … unemployment approaches the NAIRU from any given initial value, inflation will be increasing or decreasing over time. We formalize …'s equations are re-interpretated as attractor relationships. We show that NAIRU unemployment dynamics are sufficient but not …

Persistent link: https://www.econbiz.de/10009393022