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Infinite Dimensional VARs and Factor Models
Chudik, Alexander; Pesaran, M. Hashem - Institute for the Study of Labor (IZA) - 2007
dynamic systems. Restrictions on the coefficients of an unrestricted VAR are proposed that are binding only in a limit as the … number of endogenous variables tends to infinity. It is shown that under such restrictions, an infinite-dimensional VAR (or … IVAR) can be arbitrarily well characterized by a large number of finite-dimensional models in the spirit of the global VAR …
Persistent link: https://www.econbiz.de/10005763451
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Labor Search and Matching in Macroeconomics
Yashiv, Eran - Institute for the Study of Labor (IZA) - 2007
The labor search and matching model plays a growing role in macroeconomic analysis. This paper provides a critical, selective survey of the literature. Four fundamental questions are explored: how are unemployment, job vacancies, and employment determined as equilibrium phenomena? What...
Persistent link: https://www.econbiz.de/10005822179
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Deriving the New Quantity Equation: An Approach for a Closed and an Open Economy
Welfens, Paul J. J. - Institute for the Study of Labor (IZA) - 2014
This theoretical contribution shows a simple way in which the quantity equation can be derived as a long-term equilibrium solution for the case of a closed economy and an open economy, respectively. It is shown first for the case of a closed economy which parameters stand behind "velocity" and...
Persistent link: https://www.econbiz.de/10010891175
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Dependence Measures in Bivariate Gamma Frailty Models
den Berg, Gerard J. van; Effraimidis, Georgios - Institute for the Study of Labor (IZA) - 2014
Bivariate duration data frequently arise in economics, biostatistics and other areas. In "bivariate frailty models", dependence between the frailties (i.e., unobserved determinants) induces dependence between the durations. Using notions of quadrant dependence, we study restrictions that this...
Persistent link: https://www.econbiz.de/10010757340
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Duration Models and Point Processes
FOUGERE, DENIS; Florens, Jean-Pierre; Mouchart, Michel - Institute for the Study of Labor (IZA) - 2007
This survey is devoted to the statistical analysis of duration models and point processes. The first section introduces specific concepts and definitions for single-spell duration models. Section two is devoted to the presentation of conditional duration models which incorporate the effects of...
Persistent link: https://www.econbiz.de/10005763733
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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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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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Cyclical Skill-Biased Technological Change
Balleer, Almut; van Rens, Thijs - Institute for the Study of Labor (IZA) - 2009
for the skill premium from the CPS and use it to identify skill-biased technology shocks in a VAR with long run …
Persistent link: https://www.econbiz.de/10005030900
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Exploring the Causality Links between Energy and Employment in African Countries
Arouri, Mohamed El Hedi; Ben Youssef, Adel; M'henni, Hatem - Institute for the Study of Labor (IZA) - 2014
Using a bootstrap panel analysis that allows for cross-country dependence, without requiring the use of pre-tests for a unit root, we study the causality links between energy use and employment for a sample of 16 African countries over the 1991-2010 period (according to availability of...
Persistent link: https://www.econbiz.de/10010795363
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The Short- and Long-Run Determinants of Less-Educated Immigration into U.S. States
Simpson, Nicole B.; Sparber, Chad - Institute for the Study of Labor (IZA) - 2012
This paper uses a gravity model of migration to analyze how income differentials affect the flow of immigrants into U.S. states using annual data from the American Community Survey. We add to existing literature by decomposing income differentials into short- and long-term components and by...
Persistent link: https://www.econbiz.de/10011279271