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An Empirical Growth Model for Major Oil Exporters
Esfahani, Hadi Salehi; Mohaddes, Kamiar; Pesaran, M. Hashem - Institute for the Study of Labor (IZA) - 2012
-run output equation with a coefficient equal to the share of capital (α). The long-run theory is tested using quarterly data on … results support the long-run theory. The existence of long-run relations between real output, foreign output and real oil … steadily over the past three decades, the theory suggests that the effect of oil income on the economy's steady state growth …
Persistent link: https://www.econbiz.de/10010550529
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Oil Exports and the Iranian Economy
Esfahani, Hadi Salehi; Mohaddes, Kamiar; Pesaran, Hashem - Institute for the Study of Labor (IZA) - 2009
output equation with a coefficient equal to the share of capital. The long run theory is tested using a new quarterly data … long run relations: an output equation as predicted by the theory and a standard real money demand equation with inflation …
Persistent link: https://www.econbiz.de/10008527294
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Does the Calculation Hold? The Fiscal Balance of Migration to Denmark and Germany
Hinte, Holger; Zimmermann, Klaus F. - Institute for the Study of Labor (IZA) - 2014
Calculating the net fiscal effects of immigration not just for a fiscal year but over the lifespan of immigrant cohorts accentuates the assets and deficits in migration and integration policies and their long-term potential. The less national policies concentrate on a labor migrant selection...
Persistent link: https://www.econbiz.de/10010884400
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Anatomy of Policy Complementarities
Orszag, J. Michael; Snower, Dennis J. - Institute for the Study of Labor (IZA) - 1999
The analysis provides a new explanation for two widespread problems concerning European unemployment policy: the disappointingly small effect of many past reform measures on unemployment, and the political difficulties in implementing more extensive reform programs. We argue that the heart of...
Persistent link: https://www.econbiz.de/10005763705
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Identifying the Common Component of International Economic Fluctuations: A New Approach
Lumsdaine, Robin L.; Prasad, Eswar S. - Institute for the Study of Labor (IZA) - 2002
In this paper, we develop an aggregation procedure using time-varying weights for constructing the common component of international economic fluctuations. The methodology for deriving time-varying weights is based on some stylized features of the data documented in the paper. The model allows...
Persistent link: https://www.econbiz.de/10005822387
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Expected Inflation, Sunspots Equilibria and Persistent Unemployment Fluctuations
Dufourt, Frédéric; Lloyd-Braga, Teresa; Modesto, Leonor - Institute for the Study of Labor (IZA) - 2009
We propose and estimate a model where unemployment fluctuations result from self-fulfilling changes in expected inflation (sunspot shocks) affecting nominal wage bargaining. Since the estimated parameters fall near the locus of Hopf bifurcations, country-specific expected inflation shocks can...
Persistent link: https://www.econbiz.de/10005002829
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Nowcasting Business Cycles Using Toll Data
Askitas, Nikos; Zimmermann, Klaus F. - Institute for the Study of Labor (IZA) - 2011
Nowcasting has been a challenge in the recent economic crisis. We introduce the Toll Index, a new monthly indicator for business cycle forecasting and demonstrate its relevance using German data. The index measures the monthly transportation activity performed by heavy transport vehicles across...
Persistent link: https://www.econbiz.de/10008854242
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Some Thoughts on Macroeconomic Fluctuations and the Timing of Labor Market Reform
Saint-Paul, Gilles - Institute for the Study of Labor (IZA) - 2002
In this paper, I analyze the pros and cons of implementing structural reforms of the labor market in booms vs. recessions, in light of considerations of social efficiency, political viability, and macroeconomic fine tuning. While the optimal timing of a reform depends on the relative importance...
Persistent link: https://www.econbiz.de/10005761804
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Experimental Labor Markets and Policy Considerations: Incomplete Contracts and Macroeconomic Aspects
Casoria, Fortuna; Riedl, Arno - Institute for the Study of Labor (IZA) - 2012
This survey focuses on experimental labor markets investigating two aspects that deem us important for a better understanding of labor market relations and the consequences for labor market policies. The first part of the survey is dedicated to papers that assess the prevalence of reciprocal...
Persistent link: https://www.econbiz.de/10010884075
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Asymmetric Labor Market Institutions in the EMU and the Volatility of Inflation and Unemployment Differentials
Abbritti, Mirko; Mueller, Andreas I. - Institute for the Study of Labor (IZA) - 2012
How does the asymmetry of labor market institutions affect the adjustment of a currency union to shocks? To answer this question, this paper sets up a dynamic currency union model with monopolistic competition and sticky prices, hiring frictions and real wage rigidities. In our analysis, we...
Persistent link: https://www.econbiz.de/10011279349