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Pesaran, Hashem M.; Chudik, Alexander - CESifo - 2011

This paper considers the problem of aggregation in the case of large linear dynamic panels, where each micro unit is … Pesaran (2003), an optimal aggregate function is derived, and the limiting behavior of the aggregation error is investigated … which ‘observed’ inflation persistence at the aggregate level is due to aggregation and/or common unobserved factors. Our …

Persistent link: https://www.econbiz.de/10008853858

Forecasting Euro Area Real GDP: Optimal Pooling of Information

Hülsewig, Oliver; Mayr, Johannes; Wollmershäuser, Timo - CESifo - 2008

This paper proposes a new method of forecasting euro area quarterly real GDP that uses area-wide indicators, which are derived by optimally pooling the information contained in national indicator series. Following the ideas of predictive modeling, we construct the area-wide indicators by...

Persistent link: https://www.econbiz.de/10005181446

Ageing and Fiscal Imbalances Across Generations: Concepts of Measurement

Fenge, Robert; Werding, Martin - CESifo - 2003

In the literature, several approaches have been taken to measure the impact of demographic ageing on public pension schemes, with particular attention being paid to potential fiscal imbalances across the generations involved in demographic transition. In this paper, we review three of these...

Persistent link: https://www.econbiz.de/10005765993

A Rise by Any Other Name? Sensitivity of Growth Regressions to Data Source

Filer, Randall; Hajkova, Dana; Hanousek, Jan - CESifo - 2007

Measured rates of growth in real per capita income differ drastically depending on the data source. This phenomenon occurs largely because data sets differ in whether and how they adjust for changes in relative prices across countries. Replication of several recent studies of growth determinants...

Persistent link: https://www.econbiz.de/10005181475

Temporary Employment, Job Flows and Productivity: A Tale of two Reforms

Cappellari, Lorenzo; Dell'Aringa, Carlo; Leonardi, Marco - CESifo - 2011

productivity-enhancing effect. The reform of fixed-term contracts instead did not produce the intended results: it induced a … substitution of temporary employees in favour of permanent ones and reduced capital intensity, generating productivity losses. We …

Persistent link: https://www.econbiz.de/10009221556

Does China Still Have a Labor Cost Advantage?

Ceglowski, Janet; Golub, Stephen - CESifo - 2011

In recent years wages in China have been rising and the yuan has appreciated, potentially eroding China’s cost advantage in manufactures. This paper explores the evolution of China’s relative unit labor costs in manufacturing over 1998-2009. Between 1998 and 2003 China’s unit labor costs...

Persistent link: https://www.econbiz.de/10009323303

Credit Constraints, Quality, and Export Prices: Theory and Evidence from China

Fan, Haichao; Lai, Edwin L.-C.; Li, Yao Amber - CESifo - 2013

This paper examines the relationship between the credit constraints faced by a firm and the unit value prices of its exports. The paper modifies Arkolakis’s (2010) model of trade with heterogeneous firms by introducing endogenous quality and credit constraints. The model predicts that tighter...

Persistent link: https://www.econbiz.de/10010690383

Can General Purpose Technology Theory Explain Economic Growth? Electrical Power as a Case Study

Ristuccia, Cristiano Andrea; Solomou, Solomos - CESifo - 2014

Does the concept of General Purpose Technologies help explain periods of faster and slower productivity advance in …, Britain, France, Germany and Japan and proceeds to evaluate the hypothesis of a productivity bonus as postulated by many … there was no generalized productivity boost from electrical power diffusion as postulated by many existing GPT models. The …

Persistent link: https://www.econbiz.de/10010748306

Labor Market Policies and European Crises

Bertola, Giuseppe - CESifo - 2013

This paper studies theoretically and empirically why and how labor policies may reduce productivity and employment in …

Persistent link: https://www.econbiz.de/10010706002

Nominal and Real Exchange Rate Models in South Africa: How Robust are they?

Egert, Balazs - CESifo - 2012

This paper addresses difficulties in modelling exchange rates in South Africa. Real exchange rate models of earlier research seem to be sensitive to the sample period considered, alternative variable definition, data frequency and estimation methods. Alternative exchange rate models proposed in...

Persistent link: https://www.econbiz.de/10010554826