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On Short-Term Contracts Regulations
Nunziata, Luca; Staffolani, Stefano - Department of Economics, Oxford University - 2001
the employment performances of those countries. Moreoever, these institutions act asymmetrically along the business cycle …
Persistent link: https://www.econbiz.de/10010605131
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Institutions and Wage Determination: a Multi-Country Approach
Nunziata, Luca - Department of Economics, Oxford University - 2001
impact of labour market institutions from 1960 to 1994. The main contribution of the paper is to show that labour market …. These results are consistent with the findings of a companion paper (Nickell et al., 2001) where the effects of institutions … on unemployment are examined. The model controls for macroeconomic shocks, and include the possibility of interactions …
Persistent link: https://www.econbiz.de/10010604969
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Wage and Price Phillips Curves An empirical analysis of destabilizing wage-price spirals
Krolzig, Hans-Martin; Flaschel, Peter - Department of Economics, Oxford University - 2003
In this paper we introduce a small Keynesian model of economic growth which is centered around two advanced types of Phillips curves, one for money wages and one for prices, both being augmented by perfect myopic foresight and supplemented by a measure of the medium-term inflationary climate...
Persistent link: https://www.econbiz.de/10010605118
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Can oil shocks explain asymmetries in the US Business Cycle?
Krolzig, Hans-Martin; Clements, Michael P. - Department of Economics, Oxford University - 2000
We consider whether oil prices can account for business cycle asymmetries. We test for asymmetries based on the Markov switching autoregressive model popularized by Hamilton (1989), using the tests devised by Clements and Krolzig (2000). We select the transformation of the oil price of Lee, Ni...
Persistent link: https://www.econbiz.de/10011277842
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A Markov-Switching Vector Equilibrium Correction Model of the UK Labour Market
Krolzig, Hans-Martin; Marcellino, Massimiliano - Department of Economics, Oxford University - 2000
There is a wide literature on the dynamic adjustment of employment and its relationship with the business cycle. Our aim is to propose a statistical model that offers a congruent representation of post-war UK labour market. We use a cointegrated vector autoregressive Markov-switching model where...
Persistent link: https://www.econbiz.de/10011277856
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Testing for Cobreaking and Super exogeneity in the Presence of Deterministic Shifts
Krolzig, Hans-Martin - Department of Economics, Oxford University - 2000
We introduce a reduced rank technique for testing for common deterministic shifts. The reduced rank approach is analysed also in the context of super exogenity and an alternative test for super-exogenity is proposed. One important advantage of this approach is that departing from the...
Persistent link: https://www.econbiz.de/10011277857
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A New Approach to the Analysis of Business Cycle Transitions in a Model of Output and Employment
Krolzig, Hans-Martin; Toro, Juan - Department of Economics, Oxford University - 2001
This paper proposes a new framework for the impulse-response analysis of business cycle transitions. A cointegrated vector autoregressive Markov-switching model is found to be a congruent representation of post-war US employment and output data. In this model some parameters change according to...
Persistent link: https://www.econbiz.de/10010605300