#2002-003C "Stochastic Capital Depreciation and the Comovement of Hours and Productivity"
by Michael J. Dueker, Andreas M. Fischer, and Robert Dittmar
January 2002
Revised November 2006

An unresolved question concerning stochastic depreciation shocks is whether they have to be unrealistically large to have any useful role in a dynamic general equilibrium model economy, as Ambler and Paquet (1994) first suggested. We first consider implied depreciation rates from sectoral data from the Bureau of Economic Analysis. More...

PUBLISHED: Topics in Macroeconomics, January 2007, 6(3), pp. Article 6

#2001-025B "Fixing Swiss Potholes: The Importance of Improvements"
by Michael J. Dueker, and Andreas M. Fischer
November 2001
Revised January 2003

This note sheds new light on the dynamic properties of maintenance and repair and examines the behavior of an additional form of capital spending-that of improvements. The analysis examines a unique long-run data set on Swiss road spending. More...

PUBLISHED: Economics Letters, June 2003, 79(3), pp. 409-15

#1995-014A "Inflation Targeting in a Small Open Economy:Empirical Results for Switzerland"
by Michael J. Dueker, and Andreas M. Fischer


This paper extends McCallum?s (1987) nominal targeting rule to a small open economy by allowing for feedback from the exchange rate. Instead of setting parameters in a McCallum-type targeting rule and simulating, the parameters are estimated using a markov switching model. More...

PUBLISHED: Journal of Monetary Economics, Febuary 1996