Showing 1 - 10 of 358
examples from the developed and developing world and repercussions for current reform discussions. …
Persistent link: https://www.econbiz.de/10011084237
How hospitable will the global environment be for economic growth in the developing world as we come out of the present … the world economy be able to absorb a rapid increase in the supply of tradables produced in the developing world. It is …
Persistent link: https://www.econbiz.de/10008566323
We consider a small, unionized economy which interacts with an economically larger one, and we study the growth implications of different institutional structures for the labour markets. We study three possible scenarios. Under decentralized bargaining in the large economy, the two countries...
Persistent link: https://www.econbiz.de/10005791609
This paper assesses the effects of applying VAT or a sales tax on (intermediate or final) sales of the financial sector. It uses a CGE Model calibrated for a small open economy. It highlights the differentiated sectoral and redistributional effects of these taxes and shows the importance of the...
Persistent link: https://www.econbiz.de/10011084284
This Paper is the result of the Bank of Italy-CEPR project to construct a monthly coincident indicator of the business cycle of the euro area. The index is estimated on the basis of a harmonized data set of monthly statistics of the euro area (951 series) which we constructed from a variety of...
Persistent link: https://www.econbiz.de/10005504237
This paper constructs a theoretical model to study the effects on employment of the introduction of flexible labour contracts (i.e. with low firing costs), which occurred in many European countries in the 1980s, which it then tests on Spanish data. The model predicts that such contracts increase...
Persistent link: https://www.econbiz.de/10005504305
This paper shows how particle filtering allows us to undertake likelihood-based inference in dynamic macroeconomic models. The models can be nonlinear and/or non-normal. We describe how to use the output from the particle filter to estimate the structural parameters of the model, those...
Persistent link: https://www.econbiz.de/10005504323
This paper models fluctuations in regional disaggregates as a non-stationary, dynamically evolving distribution. Doing so enables the study of the dynamics of aggregate fluctuations jointly with those of the rich cross-section of regional disaggregates. For the United States, the leading state...
Persistent link: https://www.econbiz.de/10005504615
Stochastic simulations are used on the Liverpool Model of the UK to assess the effect of macroeconomic stability of the UK adopting the Euro. Instability increases substantially, particularly for inflation and real interest rates. A key factor is the extent of the Euro's instability against the...
Persistent link: https://www.econbiz.de/10005504668
In this Paper we compare alternative approaches for dating the euro area business cycle and analysing its characteristics. First, we extend a commonly used dating procedure to allow for length, size and amplitude restrictions, and to compute the probability of a phase change. Second, we apply...
Persistent link: https://www.econbiz.de/10005504746