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Resource Windfalls, Macroeconmic Stability and Growth: The Role of Political Institutions

Arezki, Rabah; Hamilton, Kirk; Kazimov, Kazim - CESifo - 2011

We use a new dataset on non-resource GDP to examine the performance of commodity-exporting countries in terms of macroeconomic stability and economic growth in a panel of up to 129 countries during the period 1970-2007. Our main findings are threefold. First, we find that overall government...

Persistent link: https://www.econbiz.de/10009645234

Apprenticeship, Vocational Training and Early Labor Market Outcomes - in East and West Germany

Riphahn, Regina T.; Zibrowius, Michael - CESifo - 2015

age 25 for East and West German youths: non-employment (i.e., unemployment or out of the labor force), permanent fulltime …

Persistent link: https://www.econbiz.de/10011205375

Employment and Welfare Effects of a Two-Tier Unemployment Compensation System

Heer, Burkhard - CESifo - 2000

In many OECD countries, e.g. in Germany, France, or the UK, unemploy-ment compensation consists of unemployment … insurance and unemployment assistance. Unemployment assistance is provided subsequent to the expiration of entitlement to … unemployment insurance and is lower. The effects of this two-tier unemployment compensation system are studied in a general …

Persistent link: https://www.econbiz.de/10005094422

The U.S. Dollar Exchange Rate and the Demand for Oil

Schryder, Selien De; Peersman, Gert - CESifo - 2013

Using recent advances in panel data estimation techniques, we find that an appreciation of the US dollar exchange rate leads to a significant decline in oil demand for a sample of 65 oil-importing countries. The estimated effect turns out to be much larger than the impact of a shift in the...

Persistent link: https://www.econbiz.de/10010877652

Dynamic Entry and Exit Linkages in the Brazilian Manufacturing Industry: An Econometric Investigation

Resende, Marcelo; Ribeiro, Eduardo P.; Zeidan, Rodrigo M. - CESifo - 2013

The paper investigates dynamic linkages between entry and exit rates in Brazilian manufacturing in the context of 231 (4-digits) industries during the 1996-2005 period. The empirical analysis focuses on the estimation of a dynamic panel data for entry and exit rates and controls for the business...

Persistent link: https://www.econbiz.de/10010877663

Large Panel Data Models with Cross-Sectional Dependence: A Survey

Chudik, Alexander; Pesaran, M. Hashem - CESifo - 2013

This paper provides an overview of the recent literature on estimation and inference in large panel data models with cross-sectional dependence. It reviews panel data models with strictly exogenous regressors as well as dynamic models with weakly exogenous regressors. The paper begins with a...

Persistent link: https://www.econbiz.de/10010877867

Chudik, Alexander; Pesaran, M. Hashem - CESifo - 2013

This paper extends the Common Correlated Effects (CCE) approach developed by Pesaran (2006) to heterogeneous panel data models with lagged dependent variable and/or weakly ex-ogenous regressors. We show that the CCE mean group estimator continues to be valid but the following two conditions must...

Persistent link: https://www.econbiz.de/10010877901

Estimation of Time-invariant Effects in Static Panel Data Models

Pesaran, M. Hashem; Zhou, Qiankun - CESifo - 2014

This paper proposes the Fixed Effects Filtered (FEF) and Fixed Effects Filtered instrumental variable (FEF-IV) estimators for estimation and inference in the case of time-invariant effects in static panel data models when N is large and T is fixed. It is shown that the FEF and FEF-IV estimators...

Persistent link: https://www.econbiz.de/10010948893

Price Dispersion in the Euro Area: The Case of a Symmetric Oil Price Shock

Carstensen, Kai; Hülsewig, Oliver; Wollmershäuser, Timo - CESifo - 2009

This paper studies the causes of price dispersion in the euro area emerging in response to a shock that hits all member countries symmetrically. We use a panel VAR model which is estimated over the period 1996–2007 to generate impulse responses of a range of price and wage variables to an oil...

Persistent link: https://www.econbiz.de/10005013058

Fiscal Policy Reaction to the Cycle in the OECD: Pro- or Counter-Cyclical?

Egert, Balazs - CESifo - 2012

This paper analyses the reaction of fiscal policy to the cycle in OECD countries. The results suggest that while overall government balances were counter-cyclical in the past and more so in economic downturns than in upswings, discretionary fiscal policy was neutral on average. However,...

Persistent link: https://www.econbiz.de/10010540250

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