000000759 001__ 759
000000759 005__ 20250211155725.0
000000759 0247_ $$a10.34989/swp-1995-8$$2DOI
000000759 035__ $$a10.34989/swp-1995-8
000000759 041__ $$aeng
000000759 245__ $$aExchange Rates and Oil Prices
000000759 260__ $$bBank of Canada
000000759 269__ $$a1995
000000759 300__ $$a1 online resource (vii, 28 pages)
000000759 336__ $$aText
000000759 347__ $$bPDF
000000759 520__ $$aThis paper derives analytical gradients for a broad class of regime-switching models with Markovian state-transition probabilities. Such models are usually estimated by maximum likelihood methods, which require the derivatives of the likelihood function with respect to the parameter vector. These gradients are usually calculated by means of numerical techniques. The paper shows that analytical gradients considerably speed up maximum-likelihood estimation with no loss in accuracy. A sample program listing is included.$$7Abstract
000000759 520__ $$aLes auteurs mettent en évidence une relation robuste et intéressante entre le prix intérieur réel du pétrole et les taux de change effectifs réels pour l'Allemagne, le Japon et les États-Unis. Ils expliquent pourquoi ils sont d'avis que le prix réel du pétrole saisit les variations exogènes des termes de l'échange et pourquoi ces dernières pourraient constituer le facteur le plus important dans la détermination des taux de change réels à long terme.$$7Résumé
000000759 540__ $$aCreative Commons Attribution 4.0 International$$uhttps://creativecommons.org/licenses/by/4.0/legalcode$$fCC-BY-4.0
000000759 6531_ $$aExchange rates
000000759 6531_ $$aTaux de change
000000759 7001_ $$aAmano, Robert
000000759 7001_ $$avan Norden, Simon
000000759 789__ $$w1192-5434$$2ISSN$$eIsPartOf
000000759 791__ $$aJournalArticle$$eIsPreviousVersionOf$$iStaff Working Paper is published in peer-reviewed journal$$2DOI$$tExchange Rates and Oil Prices$$w10.1111/1467-9396.00136$$c1998$$dReview of International Economics (Wiley Blackwell)$$j6$$k4$$o683$$q694
000000759 8301_ $$aStaff Working Paper
000000759 8301_ $$aDocument de travail du personnel
000000759 8564_ $$uhttps://www.oar-rao.bank-banque-canada.ca/record/759/files/wp95-8.pdf$$90ff9732a-ee2c-41f0-83e2-295c17b7b636$$s163698$$zFile Source: Bank of Canada website, 2024
000000759 909CO $$ooai:www.oar-rao.bank-banque-canada.ca:759$$pbibliographic
000000759 980__ $$aStaff Research
000000759 980__ $$aRDM
000000759 991__ $$aPublic