Andrew T. Levin, Andrew T. Levin, Andrew T. Levin
We appreciate comments and suggestions from Yongmiao Hong, Tim Vogelsang, and Jonathan Wright. The views expressed in this paper do not necessarily reflect the views of the Board of Governors of the...
Andrew T. Levin, Andrew T. Levin, John H. Rogers, John H. Rogers, Ralph W. Tryon, Ralph W. Tryon, ...
to stimulate discussion and critical comment. References to International Finance Discussion Papers (other than an acknowledgment that the writer has had access to unpublished material) should be...
FINANCIAL MARKET PERCEPTIONS OF RECESSION RISK (2007)
Thomas B. King, Andrew T. Levin, Roberto Perli, Thomas B. King, Andrew T. Levin, Roberto Perli
NOTE: Staff working papers in the Finance and Economics Discussion Series (FEDS) are preliminary materials circulated to stimulate discussion and critical comment. The analysis and conclusions set...
Diagnosing and Treating Bifurcations in Perturbation Analysis of Dynamic Macro Models ∗ (2007)
Jinill Kim, Andrew T. Levin, Tack Yun, Jinill Kim, Andrew T. Levin, Tack Yun
are preliminary materials circulated to stimulate discussion and critical comment. The analysis and conclusions set forth are those of the authors and do not indicate concurrence by other members of...
Monetary Policy under Uncertainty (2005)
Andrew T. Levin, Alexei Onatski, John C. Williams, Noah Williams
We use a micro-founded macroeconometric modeling framework to investigate the design of monetary policy when the central bank faces uncertainty about the true structure of the economy. We apply...
Andrew T. Levin, Richhild Moessner, Richhild Moessner, Andrew T. Levin
In 2005 all ECB publications will feature a motif taken from the €50 banknote.
Is Inflation Persistence Intrinsic (2002)
Andrew T. Levin, Jeremy M. Piger, Andrew T. Levin, Jeremy M. Piger
The views expressed are those of the individual authors and do not necessarily reflect official positions of the Federal Reserve Bank of St. Louis, the Federal Reserve System, or the Board of...
Robust Covariance Matrix Estimation with Data-Dependent VAR Prewhitening Order (2000)
Den Haan, Wouter J., Levin, Andrew T
This paper analyzes the performance of heteroskedasticity-and-autocorrelation-consistent (HAC) covariance matrix estimators in which the residuals are prewhitened using a vector autoregressive (VAR)...
Robust Covariance Matrix Estimation With Data-Dependent Var Prewhitening Order (2000)
Andrew T. Levin, Andrew T. Levin
This paper analyzes the performance of heteroskedasticity-and-autocorrelation-consistent (HAC) covariance matrix estimators in which the residuals are prewhitened using a vector autoregressive (VAR)...
Monetary Policy Under Uncertainty in Micro-Founded Macroeconometric Models
Andrew T. Levin, Alexei Onatski, John C. Williams, Noah Williams
We use a micro-founded macroeconometric modeling framework to investigate the design of monetary policy when the central bank faces uncertainty about the true structure of the economy. We apply...
A Practitioner's Guide to Robust Covariance Matrix Estimation
This paper develops asymptotic distribution theory for generalized method of moments (GMM) estimators and test statistics when some of the parameters are well identified, but others are poorly...
Robust Covariance Matrix Estimation with Data-Dependent VAR Prewhitening Order
This paper analyzes the performance of heteroskedasticity-and-autocorrelation-consistent (HAC) covariance matrix estimators in which the residuals are prewhitened using a vector autoregressive (VAR)...
Macroeconometric equivalence, microeconomic dissonance, and the design of monetary policy
Andrew T. Levin, Edward Nelson, Tack Yun
Many recent studies in macroeconomics have focused on the estimation of DSGE models using a system of loglinear approximations to the models' nonlinear equilibrium conditions. The term...
Macroeconometric equivalence, microeconomic dissonance, and the design of monetary policy
Levin, Andrew T., Nelson, Edward, Yun, Tack
Macroeconometric equivalence means that estimates of DSGE models using first-order approximations to equilibrium conditions fail to distinguish between alternative preference/technology...
What Determines Public Support for Affirmative Action?
Murat F. Iyigun, Andrew T. Levin
We present a public higher-education finance model in which demand for education can exceed supply because of indivisibilities in educational investment. In such situations, a screening...