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The labor-supply elasticity is a central element in many macroeconomic models. We argue that assumptions underlying previous econometric estimates of the intertemporal labor supply elasticity are inconsistent with incomplete markets economies. In particular, if the econometrician ignores...
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-series data for Sweden spanning a long period (1955-99) with numerous changes of the compensation level, we generally find strong … increases in total sick leave per person employed and vice versa. These findings are reinforced in a panel study covering the …
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In this paper we present a unit root test against a nonlinear dynamic heterogenous panel with each cross section …
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illustrated. -- Bayesian panel regression ; parametric covariance ; model selection …
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In this paper we derive a unit root test against a Panel Logistic Smooth Transition Autoregressive (PLSTAR). The …, finite sample properties of the test are examined. We highlight scenarios under which the traditional panel unit root tests … by Harris and Tzavalis have inferior or reasonable power compared to our test. -- Dynamic nonlinear panel ; Smooth …
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