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Venture Capital Investment and Labor Market Performance: New Empirical Evidence for OECD Countries
Belke, Ansgar; Schaal, Andreas - Institute for the Study of Labor (IZA) - 2004
Anglo-Saxon countries have been successful in the 1990s concerning labor market performance compared to the former role models Germany and Japan. This reversal in relative economic performance might be related to idiosyncracies in financial markets with bank-based financial markets as in Germany...
Persistent link: https://www.econbiz.de/10005822244
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Produce or Speculate? Asset Bubbles, Occupational Choice and Efficiency
Cahuc, Pierre; Challe, Edouard - Institute for the Study of Labor (IZA) - 2009
We study the macroeconomic effects of rational asset bubbles in an overlapping-generations economy where asset trading requires specialized intermediaries and where agents freely choose between working in the production or in the financial sector. Frictions in the market for deposits create...
Persistent link: https://www.econbiz.de/10008558939
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Oil Price Shocks and Labor Market Fluctuations
Ordóñez, Javier; Sala, Hector; Silva, José I. - Institute for the Study of Labor (IZA) - 2010
(iii) they bring a new amplification mechanism for the volatility and should thus be seen as complementary of labor …
Persistent link: https://www.econbiz.de/10008548709
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Business Cycle Effects of Credit and Technology Shocks in a DSGE Model with Firm Defaults
Pesaran, Hashem; Xu, TengTeng - Institute for the Study of Labor (IZA) - 2011
This paper proposes a theoretical framework to analyze the impacts of credit and technology shocks on business cycle dynamics, where firms rely on banks and households for capital financing. Firms are identical ex ante but differ ex post due to different realizations of firm specific technology...
Persistent link: https://www.econbiz.de/10009325438
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Volatility and Growth: Governments are Key
Jetter, Michael - Institute for the Study of Labor (IZA) - 2013
paper offers a solution to this disagreement, suggesting that volatility carries a positive direct effect, but also a … volatility is then ambiguous. The paper reveals the underlying endogeneity of government size in a balanced panel of 95 countries … increase of volatility lowers growth by up to 0.57 percentage points in a democracy, but raises growth by 1.74 percentage …
Persistent link: https://www.econbiz.de/10010959641
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The (Ir)relevance of the NRU for Policy Making: The Case of Denmark
Karanassou, Marika; Sala, Hector; Salvador, Pablo F. - Institute for the Study of Labor (IZA) - 2006
We reconsider the central role of the natural rate of unemployment (NRU) in forming policy decisions. We show that the unemployment rate does not gravitate towards the NRU due to frictional growth, a phenomenon that encapsulates the interplay between lagged adjustment processes and growth in...
Persistent link: https://www.econbiz.de/10005822576
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Public Support for Innovation, Intangible Investment and Productivity Growth in the UK Market Sector
Haskel, Jonathan; Wallis, Gavin - Institute for the Study of Labor (IZA) - 2010
Pressure on public finances has increased scrutiny of public support for innovation. We examine two particular issues. First, there have been many recent calls for the (relatively new) UK R&D subsidy to be extended to other “research” activities, such as software. Second, argument still...
Persistent link: https://www.econbiz.de/10008615440
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More Alike than Different: The Spanish and Irish Labour Markets Before and After the Crisis
Agnese, Pablo; Salvador, Pablo F. - Institute for the Study of Labor (IZA) - 2011
This paper analyses the labour markets of Spain and Ireland, which have experienced a severe downturn in the recent global crisis as reflected by the largest increases in their unemployment rates among other developed economies. Spain and Ireland might seem at first to feature very different...
Persistent link: https://www.econbiz.de/10009024600
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Labor Productivity and Vocational Training: Evidence from Europe
Sala, Hector; Silva, José I. - Institute for the Study of Labor (IZA) - 2011
In this paper we show that vocational training is an important determinant of productivity growth. We construct a multi-country, multi-sectoral dataset, and quantify empirically to what extent vocational training has contributed to increase the growth rate of labor productivity in Europe between...
Persistent link: https://www.econbiz.de/10009369103
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Factor Shares, the Price Markup, and the Elasticity of Substitution between Capital and Labor
Raurich, Xavier; Sala, Hector; Sorolla, Valeri - Institute for the Study of Labor (IZA) - 2011
In a Walrasian labor market, the labor income share is constant under the assumptions of a Cobb-Douglas production function and perfect competition. Given the observed decline of the labor share in recent decades, this paper relaxes these assumptions, proposes a time-series calculation of the...
Persistent link: https://www.econbiz.de/10009323398