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Wage inequality in Spain: recent developments

Izquierdo, Mario; Lacuesta, Aitor - European Central Bank - 2007

This paper analyses wage inequality in Spain from 1995 to 2002. Inequality has decreased slightly in this period … on inequality of changes in the composition of the labour force and changes in relative returns. We focus mainly on three … tenure level. On one hand, changes in the composition of the labour force would have increased inequality had the structure …

Persistent link: https://www.econbiz.de/10005344885

Consumption inequality and family labor supply

Blundell, Richard; Pistaferri, Luigi; Saporta-Eksten, Itay - European Central Bank - 2014

In this paper we examine the link between wage inequality and consumption inequality using a life cycle model that …

Persistent link: https://www.econbiz.de/10010753756

Inheritances and the distribution of wealth or whatever happened to the great inheritance boom?

Wolff, Edward N.; Gittleman, Maury - European Central Bank - 2011

transfers to other sources of household wealth has had a sizeable effect on reducing the inequality of wealth. JEL …

Persistent link: https://www.econbiz.de/10008854649

Real wages and local unemployment in the euro area

Sanz de Galdeano, Anna; Turunen, Jarkko - European Central Bank - 2005

We present empirical evidence of the extent of wage rigidity in the euro area and European countries derived from longitudinal data on individuals. Wage rigidity is measured by the elasticity of individual real wages with respect to local unemployment. The results suggest that the elasticity is...

Persistent link: https://www.econbiz.de/10005025572

Current account benchmarks for central and eastern Europe: a desperate search?

Ca' Zorzi, Michele; Chudik, Alexander; Dieppe, Alistair - European Central Bank - 2009

This paper examines two competing approaches for calculating current account benchmarks, i.e. the external sustainability approach á la Lane and Milesi-Ferretti (LM) versus the structural current accounts literature (SCA) based on panel econometric techniques. The aim is to gauge the medium...

Persistent link: https://www.econbiz.de/10005344844

Panel data estimates of the production function and product and labor market imperfections

Dobbelaere, Sabien; Mairesse, Jacques - European Central Bank - 2007

Embedding the efficient bargaining model into the Hall (1988) approach for estimating price-cost margins shows that both imperfections in the product and labor markets generate a wedge between factor elasticities in the production function and their corresponding shares in revenue. This article...

Persistent link: https://www.econbiz.de/10005344920

Credit channel and investment behaviour in Austria: a micro-econometric approach

Valderrama, Maria Teresa - European Central Bank - 2001

Using individual firm data, this study analyzes the credit channel in Austria. The estimation is based on an accelerator specification of investment demand augmented by the liquidity ratio and a firm specific user cost of capital. The results show that there is a credit channel in Austria...

Persistent link: https://www.econbiz.de/10005344928

The euro as invoicing currency in international trade

Kamps, Annette - European Central Bank - 2006

This paper investigates the determinants of currency invoicing in international trade. Although the currency of invoicing is central for the transmission of monetary policy, empirical research on this topic is scarce due to a lack of data. With a new extensive invoicing dataset and a panel model...

Persistent link: https://www.econbiz.de/10005344942

The impact of supply constraints on bank lending in the euro area - crisis induced crunching?

Hempell, Hannah Sabine; Kok, Christoffer - European Central Bank - 2010

Aggregate loan development typically hinges on a combination of factors that impact simultaneously on the demand and the supply side of bank lending. The financial turmoil starting in mid-2007 had detrimental consequences for banks’ balance-sheets, cost of funds and profitability, thus...

Persistent link: https://www.econbiz.de/10008694055

Observation driven mixed-measurement dynamic factor models with an application to credit risk

Creal, Drew; Schwaab, Bernd; Koopman, Siem Jan; Lucas, … - European Central Bank - 2013

We propose a dynamic factor model for mixed-measurement and mixed-frequency panel data. In this framework time series observations may come from a range of families of parametric distributions, may be observed at different time frequencies, may have missing observations, and may exhibit common...

Persistent link: https://www.econbiz.de/10010753728