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Method of Simulated Moments (MSM) estimators introduced by McFadden (1989)and Pakes and Pollard (1989) are of great use to applied economists. They are relatively easy to use even for estimating very complicated economic models. One simply needs to generate simulated data according to the model...
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Over the last twenty years the wage-education relationships in the US and Germany have evolved very differently, while … files from the PSID (US) and the GSOEP (Germany), we demonstrate how factor movements within these countries are associated … capital over the 1979-96 period, while Germany accumulated factors in a more balanced manner …
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-wage services in the US and Germany. We find a clear low-wage service jobs deficit' in Germany but this is not due to excessively …
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Germany's more compressed wage structure is taken by many analysts as the main cause of the German-US difference in job … creation. We find that the US has a more dispersed level of skills than Germany but even adjusted for skills, Germany has a …
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We investigate the Expectations Hypotheses of the term structure of interest rates and of the foreign exchange market using vector autoregressive methods for the U.S. dollar, Deutsche mark, and British pound interest rates and exchange rates. In addition to standard Wald tests, we formulate...
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