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The acceleration of productivity since 1995 has prompted a debate over whether the economy's underlying growth rate will remain high. In this paper, we propose a methodology for estimating trend growth that draws on growth theory to identify variables other than productivity - namely consumption...
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response to anticipated changes in wages (holding the marginal utility of wealth constant-that is, the Frisch elasticity) and … substantially the estimates of the Frisch elasticity. The labor supply response to an unanticipated change in wages is small because … to unanticipated change in wages (which describes the effect of uncertainty in labor supply responses). The model …
Persistent link: https://www.econbiz.de/10005616810
regressions, trying to capture the effect of these variables on the real wages and salaries in Germany while considering the … emigration on the real wages and salaries of German laborers. Annual data for 49 years has been used to estimate twelve different … unification of West-East Germany with a dummy variable. The results are intriguing, and contradicting with most of the earlier …
Persistent link: https://www.econbiz.de/10005619638
Debit cards are overtaking credit cards as the most prevalent form of electronic payment at the point of sale, yet the determinants of a ubiquitous consumer choice - "debit or credit?" - have received relatively little scrutiny. Several stylized facts suggest that debit-card use is driven by...
Persistent link: https://www.econbiz.de/10002521756
"This paper uses a game-theoretic model to analyze the disincentive effects of low-tuition policies on student effort. The model of parent and student responses to tuition subsidies is then calibrated using information from the National Longitudinal Survey of Youth 1979 and the High School and...
Persistent link: https://www.econbiz.de/10002521757
"This paper examines the causes of the observed increase in the average duration of unemployment over the past thirty years. First we analyze whether changes in the demographic composition of the U.S. labor force, particularly the age and gender composition, can explain this increase. We then...
Persistent link: https://www.econbiz.de/10002521759