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Sequentiality versus Simultaneity: Interrelated Factor Demand
Asphjell, Magne Krogstad; Letterie, Wilko; Nilsen, … - Institute for the Study of Labor (IZA) - 2010
covers the period 1993-2005. The estimates indicate that it is advantageous to adjust the stock of labour and capital … simultaneously. The cost advantage of simultaneous changes is small for capital but is large for labour. The empirical results … suggest that when estimating separate factor demand models the bias of parameter estimates is most severe in case of labour …
Persistent link: https://www.econbiz.de/10008765234
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How Do Trade and Financial Integration Affect the Relationship between Growth and Volatility?
Kose, M. Ayhan; Prasad, Eswar S.; Terrones, Marco E. - Institute for the Study of Labor (IZA) - 2006
The influential work of Ramey and Ramey (1995) highlighted an empirical relationship that has now come to be regarded as conventional wisdom – that output volatility and growth are negatively correlated. We reexamine this relationship in the context of globalization – a term typically used...
Persistent link: https://www.econbiz.de/10005233764
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Current Account Imbalances and Structural Adjustment in the Euro Area: How to Rebalance Competitiveness
Zemanek, Holger; Belke, Ansgar; Schnabl, Gunther - Institute for the Study of Labor (IZA) - 2009
Low international competitiveness of a set of euro area countries, which have become evident by large current account deficits and rising risk premiums on government bonds, is one of the most challenging economic policy issues for Europe. We analyse the role of private restructuring and public...
Persistent link: https://www.econbiz.de/10008632737
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Distribution and Growth in an Economy with Limited Needs
Saint-Paul, Gilles - Institute for the Study of Labor (IZA) - 2001
This paper studies a model of the distribution of income under bounded needs. Utility derived from any given good reaches a bliss point at a finite consumption level of that good. On the other hand, introducing new varieties always increases utility. It is assumed that each variety is owned by a...
Persistent link: https://www.econbiz.de/10005762377
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Alternative Composite Lisbon Development Strategy Indices
Oh, Jong-Eun; Heshmati, Almas - Institute for the Study of Labor (IZA) - 2005
This study addresses the measurement of two composite Lisbon strategy indices that quantifies the level and patterns of development for ranking countries. The first index is nonparametric labelled as Lisbon strategy index (LSI). It is composed of six components: general economics, employment,...
Persistent link: https://www.econbiz.de/10005822326
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Measurement of Globalization and Its Variations Among Countries, Regions and Over Time
Bhandari, Amit K.; Heshmati, Almas - Institute for the Study of Labor (IZA) - 2005
The process of globalization is an international economic order which has led to the progressive integration of the world economy through the pulling the barrier of trade and greater mobility of factors of production. In addition the technological innovation also provides impetus to the...
Persistent link: https://www.econbiz.de/10005822966
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Testing Mundell’s Intuition of Endogenous OCA Theory
Warin, Thierry; Wunnava, Phanindra V.; Janicki, Hubert - Institute for the Study of Labor (IZA) - 2008
This paper presents an empirical assessment of the endogenous optimum currency area theory. Frankel and Rose (1998) study the endogeneity of a currency union through the lens of international trade flows. Our study extends Frankel and Rose's model by using FDI flows to test the original theory...
Persistent link: https://www.econbiz.de/10005761797
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Efficiency and Effectiveness of Social Spending
Herrmann, Peter; Tausch, Arno; Heshmati, Almas; … - Institute for the Study of Labor (IZA) - 2008
In this qualitative sociological and quantitative economic policy paper, we start out from the assumption of a very recent European Commission Background paper on the “Efficiency and effectiveness of social spending”, which says the effectiveness of social spending can be defined by the...
Persistent link: https://www.econbiz.de/10005762307
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On the Multivariate Analysis of the "Lisbon Process"
Heshmati, Almas; Tausch, Arno; Bajalan, Chemen S.J. - Institute for the Study of Labor (IZA) - 2007
Starting from Professor Kornai’s assertion about the necessity to focus on the long-term perspectives of the transformation process, we analyze in this paper the Lisbon performance of the countries of the European Union from such a long-term, structural perspective. We present in a simple form...
Persistent link: https://www.econbiz.de/10005762392
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Integration, Labor Market Regulation, Lobbying, and Technological Change
Palokangas, Tapio K. - Institute for the Study of Labor (IZA) - 2009
This paper examines an economic union where oligopolistic firms produce by skilled and unskilled labor and do in-house R&D by skilled labor. The planner of the union accepts new members to the union, regulates the labor market through a minimum wage for unskilled labor and supports firms by...
Persistent link: https://www.econbiz.de/10005233760