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The Contribution of Human Capital and its Policies to Per Capita Income in Europe and the OECD
Égert, Balázs; Botev, Jarmila; Turner, David - 2021
This paper studies empirically the effect of education policies on human capital and per capita income. The results suggest for European and OECD countries that higher attendance at pre-primary education, greater autonomy of schools and universities, a lower student-to-teacher ratio, higher age...
Persistent link: https://www.econbiz.de/10013314766
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Understanding the Estimation of Oil Demand and Oil Supply Elasticities
Kilian, Lutz - 2020
This paper examines the advantages and drawbacks of alternative methods of estimating oil supply and oil demand elasticities and of incorporating this information into structural VAR models. I not only summarize the state of the literature, but also draw attention to a number of econometric...
Persistent link: https://www.econbiz.de/10012822493
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Sectoral Okun's Law and Cross-Country Cyclical Differences
Goto, Eiji - 2020
We estimate Okun's law, the negative relationship between output and the unemployment rate, at the sector level for the US, the UK, Japan, and Switzerland to test several hypotheses that may explain why the aggregate Okun's coeffcients are different across countries. Specifically, we show that...
Persistent link: https://www.econbiz.de/10012841145
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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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Preferential Tax Regimes with Asymmetric Countries
Bucovetsky, Sam - 2006
Current policy initiatives taken by the EU and the OECD aim at abolishing preferential corporate tax regimes. This note extends Keen's (2001) analysis of symmetric capital tax competition under preferential (or discriminatory) and non-discriminatory tax regimes to allow for countries of...
Persistent link: https://www.econbiz.de/10012778991
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The Impact of Rising Oil Prices on U.S. Inflation and Inflation Expectations in 2020-23
Kilian, Lutz; Zhou, Xiaoqing - 2021
inflation and rising inflation expectations for years to come. We show that these concerns have been overstated. A $100 oil … scenario of the type discussed by many observers, would only briefly raise monthly headline inflation, before fading rather … quickly. However, the short-run effects on headline inflation would be sizable. For example, on a year-over-year basis …
Persistent link: https://www.econbiz.de/10013312058
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The Asymmetric Impact of Economic Policy and Oil Price Uncertainty on Inflation : Evidence from Developed and Emerging Economies
Anderl, Christina; Caporale, Guglielmo Maria - 2023
inflation by using a Nonlinear ARDL (NARDL) model, which is compared to a benchmark linear ARDL one. Using monthly data from the …, especially negative ones, have a stronger impact on inflation than OPU ones and capture some of the monetary policy uncertainty …, thereby reducing the direct effect of interest rate changes on inflation. Since EPU shocks reflect, at least to some extent …
Persistent link: https://www.econbiz.de/10014260984
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The Euro Crisis and Economic Growth : A Novel Counterfactual Approach
Terzi, Alessio - 2019
Macroeconomic adjustment in the euro area periphery was more recessionary than pre-crisis imbalances would have warranted. To make this claim, this paper uses a Propensity Score Matching Model to produce counterfactuals for the Eurozone crisis countries (Greece, Portugal, Ireland, Cyprus, Spain)...
Persistent link: https://www.econbiz.de/10012866042
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Structural Change and Productivity Growth in Europe - Past, Present and Future
Duernecker, Georg; Sanchez-Martinez, Miguel - 2021
This paper studies the effect of structural change on the historical path of aggregate labor productivity growth for a large sample of European countries, and it builds a quantitative multi-sector growth model to analyze the potential impact that structural change may have on future productivity...
Persistent link: https://www.econbiz.de/10013211112
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Financial Integration and Economic Growth in Europe
Caporale, Guglielmo Maria; Sova, Anamaria; Sova, Robert - 2023
This study examines the impact of financial integration on economic growth in the case of 31 European countries over the period from 2000 to 2021 using dynamic panel data models. The estimation results provide evidence of significant positive effects of financial integration on economic growth....
Persistent link: https://www.econbiz.de/10014346251