Staff working papers

• GAUSS™ Programs for the Estimation of State-Space Models with ARCH Errors: A User's Guide

  Staff Working Paper 2000-2 Maral Kichian

  State-space models have long been popular in explaining the evolution of various economic variables. This is mainly because they generally have more economic content than do others in their class of parsimonious models (for example, VARs). Yet, in spite of their advantages, use of these models until recently was limited by the assumption that all […]

  Content Type(s): Staff research, Staff working papers Topic(s): Econometric and statistical methods JEL Code(s): C, C3, C32, C8, C82, C87, C89

• The Employment Costs of Downward Nominal-Wage Rigidity

  Staff Working Paper 2000-1 Jean Farès, Seamus Hogan

  In this paper, we use firm-level wage and employment data to address whether there is evidence of downward nominal-wage rigidity, and whether that rigidity is associated with a reduction in employment. We describe an estimation bias that can result when estimating reduced-form wage and employment equations and suggest a way of controlling for that bias. […]

  Content Type(s): Staff research, Staff working papers Topic(s): Labour markets JEL Code(s): C, C3, C33, J, J2, J23, J3, J31