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The Impact of Product and Labour Market Reform on Growth : Evidence for OECD Countries Based on Local Projections
de Haan, Jakob - 2020
This paper examines the impact of labour and product market reforms on economic growth in 25 OECD countries between 1985 and 2013, and tests whether this impact is conditioned by the fiscal policy stance, i.e. whether there are fiscal expansions or adjustments. Our local projection results...
Persistent link: https://www.econbiz.de/10012829322
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Occupations Shape Retirement Across Countries
Sauré, Philip U.; Seibold, Arthur; Smorodenkova, Elizaveta - 2023
We study how occupations shape individual and aggregate retirement behavior. First, we document large differences in individual retirement ages across occupations in U.S. data. We then show that retirement behavior among European workers is strongly correlated with U.S. occupational retirement...
Persistent link: https://www.econbiz.de/10014358043
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Ageing and productivity growth: are there macro-level cohort effects of human capital?
Werding, Martin - 2008
Slower growth of the labour force and an increase in old-age dependency will reduce the growth of aggregate output and output per capita in many developed countries. However, a major question is whether there is any systematic link between demographics and the productivity of those who will...
Persistent link: https://www.econbiz.de/10010264296
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Aging and Health Care Expenditures : A Non-Parametric Approach
Lorenz, Normann - 2020
One of the most important controversies in health economics concerns the question whether the imminent aging of the … expenditures of the high age classes and thus overstates the increase of future HCE due to aging. Secondly, we show that the non … find that population aging will in fact contribute to rising HCE in the coming decades. We also find that the impact of …
Persistent link: https://www.econbiz.de/10012836935
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Unemployment in an interdependent world
Felbermayr, Gabriel J.; Larch, Mario; Lechthaler, Wolfgang - 2009
We introduce search and matching unemployment into a model of trade with differentiated goods and heterogeneous firms …
Persistent link: https://www.econbiz.de/10010266008
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Ageing and the welfare state: Securing sustainability
Meier, Volker; Werding, Martin - 2010
Over the next four decades, increasing old-age dependency ratios exert an enormous upward pressure on welfare spending in most developed countries. As this is mainly due to existing unfunded public pension schemes, many countries have embarked on far-reaching reforms in this area, strengthening...
Persistent link: https://www.econbiz.de/10010266068
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Practice and prospects of medium-term economic forecasting
Hofer, Helmut; Schmidt, Torsten; Weyerstrass, Klaus - 2010
Government agencies and other national and international institutions are asked to perform forecasts over the medium term. In particular, the EU Stability and Growth Pact contains the obligation to formulate stability programmes over four years, covering a general economic outlook as well as the...
Persistent link: https://www.econbiz.de/10003950892
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Unraveling the fortunes of the fortunate: an Iterative Bayesian Model Averaging (IBMA) approach
Eicher, Theo S.; Papageorgiou, Chris; Roehn, Oliver - 2007
We investigate country heterogeneity in cross-country growth regressions. In contrast to the previous literature that focuses on low-income countries, this study also highlights growth determinants in high-income (OECD) countries. We introduce Iterative Bayesian Model Averaging (IBMA) to address...
Persistent link: https://www.econbiz.de/10010264062
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Cointegration analysis with mixed-frequency data
Seong, Byeongchan; Ahn, Sung K.; Zadrozny, Peter A. - 2007
We develop a method for directly modeling cointegrated multivariate time series that are observed in mixed frequencies. We regard lower-frequency data as regularly (or irregularly) missing and treat them with higher-frequency data by adopting a state-space model. This utilizes the structure of...
Persistent link: https://www.econbiz.de/10010264085
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Downward nominal wage rigidity in the OECD
Holden, Steinar; Wulfsberg, Fredrik - 2007
Recent micro studies have documented extensive downward nominal wage rigidity (DNWR) for job stayers in many OECD countries, but the effect on aggregate variables remains disputed. Using data for hourly nominal wages, we explore the existence of DNWR on wages at the industry level in 19 OECD...
Persistent link: https://www.econbiz.de/10010264139