Template-type: ReDif-Paper 1.0
Author-Name: Cubadda, Gianluca 
Author-Name: Hecq, Alain 
Author-Name: Palm, Franz C.  
Author-workplace-name: METEOR
Title: Macro-panels and Reality 
Abstract: This note argues that large VAR models with common cyclical feature restrictions provide an attractive framework for parsimonious implied univariate final equations, justifying on the one hand the estimation of homogenous panels with dynamic heterogeneity and a common factor structure, and on the other hand the aggregation of time series. However, starting with a too restrictive DGP might preclude from looking at interesting empirical issues.
Keywords: Economics (Jel: A)
Series: Research Memoranda
Creation-Date: 2007
Number: 009
File-URL: http://arnop.unimaas.nl/show.cgi?fid=8479
File-Format: application/pdf
File-Size: 139238
Handle: RePEc:unm:umamet:2007009