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LSDVC estimates, this study finds a significant labourfriendly impact of R&D expenditures. However, this positive employment …
Persistent link: https://www.econbiz.de/10012110063
. Labour demand is expressed by its structural parameters, such as the elasticities of employment to output and factor prices …. Institutional variables include employment protection legislation, the structure of wage bargaining, measures describing the tax and … transfer system and active labour market policies. As cointegration between employment, output and factor prices is detected …
Persistent link: https://www.econbiz.de/10003085749
. Labour demand is expressed by its structural parameters, such as the elasticities of employment to output and factor prices …. Institutional variables include employment protection legislation, the structure of wage bargaining, measures describing the tax and … transfer system and active labour market policies. As cointegration between employment, output and factor prices is detected …
Persistent link: https://www.econbiz.de/10013318303
We examine real business cycle convergence for 41 euro area regions and 48 US states. Results obtained by a panel model with spatial correlation indicate that the relevance of common business cycle factors is rather stable over the past two decades in the euro area and the US. Ongoing business...
Persistent link: https://www.econbiz.de/10003807457
The appropriate design of monetary policy in integrated financial markets is one of the most challenging areas for central banks. One hot topic is whether the rise in liquidity in recent years has contributed to the formation of price bubbles in asset markets. If strong linkages exist, the...
Persistent link: https://www.econbiz.de/10003807460
This paper focuses on nominal exchange rates, specifically the US dollar rate vis-à-vis the Euro and the Japanese Yen at a daily frequency. We model both absolute values of returns and squared returns using long-memory techniques, being particularly interested in volatility modelling and...
Persistent link: https://www.econbiz.de/10003931070
Persistent link: https://www.econbiz.de/10003391559
Persistent link: https://www.econbiz.de/10003963286
Three current account imbalances - one very large deficit (the United States) and two surpluses (Japan and the Euro area) - are subjected to a minimalist structural interpretation. Though simple, this interpretation enables us to assess how much of each of the imbalances require a real exchange...
Persistent link: https://www.econbiz.de/10003855162
Persistent link: https://www.econbiz.de/10010520824