Normalising CES production functions in the calibration of basic dynamic models allows to choose technology parameters in an economically plausible way. When variations in the elasticity of substitution are considered, normalisation is necessary in order to exclude arbitrary effects. As an...

Normalising CES production functions in the calibration of basic dynamic models allows to choose technology parameters in an economically plausible way. When variations in the elasticity of substitution are considered, normalisation is necessary in order to exclude arbitrary effects. As an...

We analyze the rise of the first socio-economic institution in history that limited fertility – long before the Demographic Transition. The "European Marriage Pattern" (EMP) raised the marriage age of women and ensured that many remained celibate, thereby reducing childbirths by up to one...

A cikk 12 ország és az Európai Unió - főleg kvantitatív, ezen belül többszektoros modellekre építő - munkapiaci előrejelzési gyakorlatát tekinti át, elsősorban kiinduló pontot és összehasonlítási mércét nyújtva a hasonló hazai előrejelzési munkákhoz. A kvantitatív...

How did Europe escape the "Iron Law of Wages?" We construct a simple Malthusian model with two sectors and multiple steady states, and use it to explain why European per capita incomes and urbanization rates increased during the period 1350-1700. Productivity growth can only explain a small...

CEE countries experience a catching up period in economic growth while preparing for accession to the European Union. In several countries we experience an expenditure boom arising either from exuberant expectations of consumers towards EU or EM or a fiscal deficit usually underpinned by an...

Blanchard’s (1985) model is modified to build an OLG model with an increasing probability of death, endogenous growth and a bequest motive. The motivation is to obtain a more rich, realistic and flexible framework to reproduce -using numerical methods- some stylised facts of the age-profiles...

The study was prepared in the framework of the "Priority Project TÁMOP - 2.3.2-09/1: Establishing labour market forecasts and foreseeing structural changes". It presents a comprehensive overview of labour market forecasting activities, mostly quantitative, based on multi-sector models, in 12...

The study presents a comprehensive overview of labour market forecasting activities, mostly quantitative, based on multi-sector models, in 12 countries and the European Union. The principal aim of this effort is to provide ideas, lessons and benchmarks for similar forecasting exercises in...

In recent years, a series of European labour market forecasts have been produced on behalf of, and have been published by, the European Centre for the Development of Vocational Training (CEDEFOP). These forecasts were generated using a modular modelling approach containing two major components:...