Structural Changes in Transition Economies: Breaking the News or Breaking the Ice?

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dc.contributor.author Égert, Balázs
dc.contributor.author Jiménez-Rodríguez, Rebeca
dc.contributor.author Kočenda, Evžen
dc.contributor.author Morales-Zumaquero, Amalia
dc.date 2006-06
dc.date.accessioned 2006-08-17T13:44:28Z
dc.date.available 2006-08-17T13:44:28Z
dc.date.issued 2006-08-17T13:44:28Z
dc.identifier.uri http://hdl.handle.net/2027.42/41234
dc.description.abstract This paper extends the existing literature in structural breaks in transition economies in Central and Eastern Europe, analyzing structural breaks in the volatility of monthly key macroeconomic variables, such as industrial production, inflation, monetary aggregates, nominal exchange rates and series related to the labor market. Using the Iterated Cumulative Sums of Squares (ICSS) algorithm developed by Inclán and Tiao (1994) and the Bayesian procedure developed by Wang and Zivot (2000), we provide strong evidence in favor of structural breaks in the variance of the series under investigation. The instability found has important implications for macroeconometric modeling. en
dc.format.extent 197509 bytes
dc.format.mimetype application/pdf
dc.language.iso en_US en
dc.relation.ispartofseries 16 en
dc.subject transition countries en
dc.subject structural break en
dc.subject volatility en
dc.subject.other C11 en
dc.subject.other E31 en
dc.subject.other E51 en
dc.subject.other F31 en
dc.subject.other J21 en
dc.subject.other J30 en
dc.subject.other P0 en
dc.title Structural Changes in Transition Economies: Breaking the News or Breaking the Ice? en
dc.subject.hlbtoplevel Social Sciences
dc.contributor.affiliationum International Policy Center (IPC); Gerald R. Ford School of Public Policy en
dc.contributor.affiliationother Oesterreichische Nationalbank, EconomiX at University of Paris X-Nanterre en
dc.contributor.affiliationother University of Salamanca en
dc.contributor.affiliationother CERGE-EI: Charles University and Academy of Sciences, WDI, CEPR. en
dc.contributor.affiliationother University of Malaga and Centro de Estudios Andaluces. en
dc.contributor.affiliationumcampus Ann Arbor
dc.description.bitstreamurl http://deepblue.lib.umich.edu/bitstream/2027.42/41234/1/IPC-working-paper-016-Kocenda.pdf en_US
dc.owningcollname International Policy Center (IPC) - Working Paper Series
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