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The Impact of Product and Labour Market Reform on Growth : Evidence for OECD Countries Based on Local Projections

de Haan, Jakob - 2020

This paper examines the impact of labour and product market reforms on economic growth in 25 OECD countries between 1985 and 2013, and tests whether this impact is conditioned by the fiscal policy stance, i.e. whether there are fiscal expansions or adjustments. Our local projection results...

Persistent link: https://www.econbiz.de/10012829322

The Devil is in the Shadow : Do Institutions Affect Income and Productivity or Only Official Income and Official Productivity?

Dreher, Axel; Méon, Pierre-Guillaume; Schneider, Friedrich - 2021

This paper assesses the relationship between institutions, output, and productivity, when official output is corrected for the size of the shadow economy. Our results confirm the usual positive impact of institutional quality on official output and total factor productivity, and its negative...

Persistent link: https://www.econbiz.de/10013316690

On Time and Money Donations

Cappellari, Lorenzo; Ghinetti, Paolo; Turati, Gilberto - 2021

This paper investigates the determinants of time and money gifts. We first develop a behavioural model which accounts for both types of donations, as well as for decisions about domestic and market hours of work. We then investigate the issue empirically, using survey data for Italy. Results...

Persistent link: https://www.econbiz.de/10013316768

Does High Inflation Cause Central Bankers to Lose Their Job? Evidence Based on a New Data Set

Dreher, Axel; Sturm, Jan-Egbert; Haan, Jakob de - 2021

This paper introduces new data on the term in office of central bank governors in 137 countries for 1970-2004. Our panel models show that the probability that a central bank governor is replaced in a particular year is positively related to the share of the term in office elapsed, political and...

Persistent link: https://www.econbiz.de/10013316991

Does membership in international organizations increase governments' credibility?: testing the effects of delegating powers

Dreher, Axel; Voigt, Stefan - 2008

This paper analyzes whether nation-state governments can increase their credibility by becoming members of international organizations. Credibility is an important asset because it determines the real interest rate and is expected to have an important impact on investment and growth. It is...

Persistent link: https://www.econbiz.de/10010264350

Statements of ECB Officials and their Effect on the Level and Volatility of the Euro-Dollar Exchange Rate

Jansen, David-Jan; de Haan, Jakob - 2003

This paper studies the reaction of the mean and volatility of the euro-dollar exchange rate to statements of ECB … officials during the first years of EMU. We focus on statements on monetary policy and the (potential) strength of the euro. We …. In some cases there are effects of statements on the level of the euro-dollar rate. Efforts to talk up' the euro have not …

Persistent link: https://www.econbiz.de/10010315669

Asymmetric monetary transmission in EMU : the robustness of VAR conclusions and Cecchettis legal family theory

Elbourne, Adam; de Haan, Jakob - 2004

We review studies on monetary transmission in the EU countries using the VAR approach and analyse why they often lead to divergent outcomes. Firstly, we estimate 43 VAR models across ten EU countries and compare the robustness of the ranking of the magnitudes of the price and output responses....

Persistent link: https://www.econbiz.de/10010261078

Modelling low pay transition probabilities, accounting for panel attrition, non-response, and initial conditions

Cappellari, Lorenzo; Jenkins, Stephen P. - 2004

We model annual low pay transition probabilities taking account of three potentially endogenous selections: two sample drop-out mechanisms (panel attrition, non-employment) and ?initial conditions? (base-year low pay status). This model, and variants that ignore one or more of these selection...

Persistent link: https://www.econbiz.de/10010261224

Has the stability and growth pact impeded political budget cycles in the European Union?

Mink, Mark; de Haan, Jakob - 2005

This paper examines whether there is a political budget cycle (PBC) in countries in the euro area. Using a multivariate … has not restricted fiscal policy makers in the euro area in pursuing expansionary policies before elections. In an …

Persistent link: https://www.econbiz.de/10010261324

Trade and business cycle synchronization in OECD countries : a re-examination

Inklaar, Robert; Jong-A-Pin, Richard; de Haan, Jakob - 2005

This paper re-examines the relationship between trade intensity and business cycle synchronization for 21 OECD countries during 1970-2003. Instead of using instrumental variables, we estimate a multivariate model including variables capturing specialisation, financial integration, and similarity...

Persistent link: https://www.econbiz.de/10010261337