Motor Vehicle Crash Fatalities for Week Ending, July 17, 2008

Motor Vehicle Crash Fatalities

Motor Vehicle Crash Fatalities for Week Ending, July 25, 2008

Motor Vehicle Crash Fatalities

Motor Vehicle Crash Fatalities for Week Ending, August 1, 2008

Motor Vehicle Crash Fatalities

Motor Vehicle Crash Fatalities for Week Ending, August 8, 2008

Motor Vehicle Crash Fatalities

Motor Vehicle Crash Fatalities for Week Ending, August 29, 2008

Motor Vehicle Crash Fatalities

Pitfalls in the modeling of forward-looking price setting and investment decisions

The present paper makes progress in explaining the role of capital for inflation and output dynamics. We followWoodford (2003, Ch. 5) in assuming Calvo pricing combined with a convex capital adjustment cost at the firm level. Our main result is that capital accumulation affects inflation dynamics primarily through its impact on the marginal cost. This mechanism is much simpler than the one implied by the analysis in Woodford's text. The reason is that his analysis suffers from a conceptual mistake, as we show. The latter obscures the economic mechanism through which capital affects inflation and output dynamics in the Calvo model, as discussed in Woodford (2004).

Motor Vehicle Crash Fatalities for Week Ending, September 5, 2008

Motor Vehicle Crash Fatalities

Motor Vehicle Crash Fatalities for Week Ending, September 12, 2008

Motor Vehicle Crash Fatalities

Motor Vehicle Crash Fatalities for Week Ending, September 19, 2008

Motor Vehicle Crash Fatalities

Motor Vehicle Crash Fatalities for Week Ending, September 26, 2008

Motor Vehicle Crash Fatalities

Flexible multivariate GARCH modeling with an application to international stock markets

The goal of this paper is to estimate time-varying covariance matrices.Since the covariance matrix of financial returns is known to changethrough time and is an essential ingredient in risk measurement, portfolioselection, and tests of asset pricing models, this is a very importantproblem in practice. Our model of choice is the Diagonal-Vech version ofthe Multivariate GARCH(1,1) model. The problem is that the estimation ofthe general Diagonal-Vech model model is numerically infeasible indimensions higher than 5. The common approach is to estimate more restrictive models which are tractable but may not conform to the data. Our contributionis to propose an alternative estimation method that is numerically feasible,produces positive semi-definite conditional covariance matrices, and doesnot impose unrealistic a priori restrictions. We provide an empiricalapplication in the context of international stock markets, comparing thenew estimator to a number of existing ones.

Motor Vehicle Crash Fatalities for Week Ending, October 3, 2008

Motor Vehicle Crash Fatalities

Macroeconomic modeling for monetary policy evaluation

We describe some of the main features of the recent vintage macroeconomic models used for monetary policy evaluation. We point to some of the key differences with respect to the earlier generation ofmacro models, and highlight the insights for policy that these new frameworks have to offer. Our discussion emphasizes two key aspects of the new models: the significant role of expectations of future policy actions in the monetary transmission mechanism, and the importance for the central bank of tracking of the flexible price equilibrium values of the natural levels of output and the real interest rate. We argue that both features have important implications for the conduct of monetary policy.

Motor Vehicle Crash Fatalities for Week Ending, October 10, 2008

Motor Vehicle Crash Fatalities

Motor Vehicle Crash Fatalities for Week Ending, October 24, 2008

Motor Vehicle Crash Fatalities