In an influential recent paper, Beaudry and Portier (2006) propose a sequential approach for identifying technological news shocks. Thereby, the correlation coefficient between news shocks of a short-run…
Recent empirical literature delivered, based on different structural VAR approaches, controversial results concerning the role of anticipated technology—news—shocks in business cycle fluctuations. We deal with…
The aim of this paper is to assess the dimension of factors and shocks that drive financial conditions, and in particular financial stress in the euro area. A second aim is to construct summary indices on the…
While a widespread consensus exists among macroeconomists that the German labour market reforms in 2003-2005 have successfully contributed to the decline of the unemployment rate, critics claim that the reforms…
Private equity (PE) firms have long time emphasized their role as investors who create value in their portfolio companies. In this paper we analyze a key strategy of PE investors, the so-called buy-and-build…
This paper focuses on finding starting-values for maximum likelihood estimation of Vector STAR models. Based on a Monte Carlo exercise, different procedures are evaluated. Their performance is assessed w.r.t.…
