Português
The project focuses on estimating impulse response functions (IRFs) through local projections with instrumental variables (LP-IV).
IRFs are fundamental to understanding the effects of monetary and fiscal policy on the economy. Local projections (LP) have become an essential tool for estimating IRFs, offering a flexible alternative to vector autoregressions. The LP-IV method improves causal inference by correcting for endogeneity problems, making it crucial in macroeconomic research on the effects pf exogenous shocks.
Despite their advantages, conventional LP-IV methods exhibit autocorrelation and bias problems in finite samples. The project will develop a novel Modified Indirect Least Squares (MILS) estimator that corrects these problems with both stationary and persistent series. The developed methods will subsequently be applied to assess the impact of monetary policy shocks in the US and Eurozone.
The project will contribute to a better understanding of the transmission of monetary policy between economies and sectors, providing valuable lessons for researchers and economic policymakers.
| Research Centre | Research Group | Role in Project | Begin Date | End Date |
|---|---|---|---|---|
| BRU-Iscte | Economics Group | Partner | 2026-02-01 | 2027-07-31 |
| Institution | Country | Role in Project | Begin Date | End Date |
|---|---|---|---|---|
| TILBURG UNIVERSITY- UNIVERSITEIT VAN TILBURG (UvT) | Netherlands | Partner | 2026-02-01 | 2027-07-31 |
| Iscte - Instituto Universitário De Lisboa (Iscte) | Portugal | Partner | 2026-02-01 | 2027-07-31 |
| University of Manchester (University of Manchester) | United Kingdom | Partner | 2026-02-01 | 2027-07-31 |
| Otilia Boldea ((Tilburg University)) (n.a.) | Netherlands | Researcher | 2026-02-01 | 2027-07-31 |
| Alastair Hall (School of Social Sciences - U. Manchester) (n.a.) | United Kingdom | Researcher | 2026-02-01 | 2027-07-31 |
| Adriana Cornea-Madeira (ISEG Lisbon School of Economics and Management) (n.a.) | Portugal | Lead Researcher | 2026-02-01 | 2027-07-31 |
| Name | Affiliation | Role in Project | Begin Date | End Date |
|---|---|---|---|---|
| João Madeira | Professor Associado (com Agregação) (DE); Integrated Researcher (BRU-Iscte); | Researcher | 2026-02-01 | 2027-07-31 |
No records found.
No records found.
No records found.
No records found.
No records found.
No records found.
With the objective to increase the research activity directed towards the achievement of the United Nations 2030 Sustainable Development Goals, the possibility of associating scientific projects with the Sustainable Development Goals is now available in Ciência_Iscte. These are the Sustainable Development Goals identified for this project. For more detailed information on the Sustainable Development Goals, click here.
