Transforming Qualitative Survey Data: Performance Comparisons for the UK*Oxford Bulletin of Economics and Statistics - Tập 66 Số 1 - Trang 71-89 - 2004
Ciarán Driver, Giovanni Urga
AbstractThis paper assesses different ways of converting qualitative data obtained in surveys into quantitative indices for a number of economic variables. The research reported here focuses on the main UK employers’ business survey for manufacturing – the CBI industrial trends survey. Six response variables are investigated – plant and machinery investment, output...... hiện toàn bộ
Macroeconomic Uncertainty and Oil Price VolatilityOxford Bulletin of Economics and Statistics - Tập 78 Số 5 - Trang 671-693 - 2016
Ine Van Robays
AbstractThis paper shows that higher macroeconomic uncertainty causes higher oil price volatility. Regimes of low and high uncertainty are identified in a threshold VAR model in which the effects of structural oil demand and supply shocks are estimated. The results show that higher macroeconomic uncertainty, as measured by global industrial production volatility, s...... hiện toàn bộ
Production Technology Estimates and Balanced GrowthOxford Bulletin of Economics and Statistics - Tập 77 Số 1 - Trang 40-65 - 2015
Miguel A. León‐Ledesma, Peter McAdam, Alpo Willman
AbstractCapital‐labour substitution and total factor productivity (TFP) estimates are essential features of many economic models. Such models typically embody a balanced growth path. This often leads researchers to estimate models imposing stringent prior choices on technical change. We demonstrate that estimation of the substitution elasticity and TFP growth can b...... hiện toàn bộ
HAZARDS IN IMPLEMENTING A MONETARY CONDITIONS INDEXOxford Bulletin of Economics and Statistics - Tập 58 Số 4 - Trang 765-790 - 1996
Kari H. Eika, Neil R. Ericsson, Ragnar Nymoen
Some recent studies have suggested constructing a Monetary Conditions Index (or MCI) to serve as an indicator of monetary policy stance. The central banks of Canada, Sweden and Norway all construct an MCI and (to varying degrees) use it in conducting monetary policy. Empirically, an MCI is calculated as the weighted sum of changes in a short‐term interest rate and the exchange rate relativ...... hiện toàn bộ