Two alternative methodologies are compared for identifying common trends and cycles in a set of variables. One, following Harvey, uses an unobserved components structural time series model. The other, following Vahid and Engle, is based on a multivariate BeveridgeNelson decomposition. Both approaches are applied to a four sector model of output in the UK over the period 1970Q1-1993Q2, producing...

s tructural change is defined as a change in the relative weight of the important constituents of the macro-economic indicator such as production, taxes, imports and exports, workforce etc. since the structure change is one of the main reasons for the growth and economic development of countries, the investigation of the trend of changes in economic important constituents is important. tax as a...

abstract in this paper, income per capita convergence hypothesis is tested in selected oic countries. for this purpose, we use the time series model and univariate kpss stationary test with multiple structural breaks (carrion-i-silvestre et al. (2005)) over the period 1950-2008. the results show that most oic countries could not catch up toward usa. although because of some positive term of tra...

The aim of this study is decomposition of the changes in energy consumption with emphasizing the structural changes in Iran during 2001-2011 using Input- Output Structural Decomposition Analysis (I_O SDA). Structural changes in this study represent the changes in structure of intermediate input in sectors and also changes in structure of final demand categories. Structural changes in intermedia...

The Journal of Economic Literature codes classification system (JEL) published by the American Association (AEA) is de facto standard for research literature in economics. JEL used to classify articles, dissertations, books, book reviews, and working papers EconLit, a database maintained AEA. Over time, it has evolved extended with over 850 subclasses. This paper reviews history development sys...

this paper aims to investigate the role of each aggregate spending component in the monetary policy transmission in indonesia. it assesses the relative strength of the role of each spending component in the monetary policy transmission. in so doing, this study employs the contribution analysis, which is calculated based on the cumulative impulse response of each component of gdp to a monetary p...

A recent development in energy and environment decomposition analysis is the application of the technique to cross-country region comparisons. Cross-country region decomposition gives rise to several problems that do not normally occur in chronological decomposition of changes in a specific country. These include large variations in explanatory factors in the data, the measure of economic outpu...

Based on Jewitt (1986) we try to find a characterization of comparative downside risk aversion and love. The desired characterizations involve the decomposition of the dual of the intersection of two convexity cones. The decomposition holds in the case of downside risk love, but not in the case of downside risk aversion. A counterexample is provided. JEL Classification System: D81.

Blinder-Oaxaca Decomposition for Tobit Models In this paper, a decomposition method for Tobit-models is derived, which allows the differences in a censored outcome variable between two groups to be decomposed into a part that is explained by differences in observed characteristics and a part attributable to differences in the estimated coefficients. The method is applied to a decomposition of t...

We propose a decomposition of social welfare when consumers have quasi-linear utility functions under certain conditions satisfied in many models of imperfect competition. In our decomposition, social welfare is expressed as the sum of consumers’ gross utilities and trade surplus of non-numeraire commodities, which contribute to consumers’ utilities non-linearly. This decomposition is useful es...