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influential in recent policy discussions. It notes potentially important features of the real- world environment that the standard …
Persistent link: https://www.econbiz.de/10012833728
nowcasting and forecasting quarterly world GDP using mixed-frequency models. We find that a recently proposed indicator that … use this indicator to track the evolution of the nowcasts for the US, the OECD area, and the world economy during the …
Persistent link: https://www.econbiz.de/10013315045
, we use a free and instantaneous available source of leading indicators, the ifo World Economic Survey (WES), to forecast …
Persistent link: https://www.econbiz.de/10012867868
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
growth across the globe. In a large sample of countries, equality in the distribution of income as measured by the World Bank … and by The Standardized World Income Inequality Database are seen to be correlated with economic diversification, the rule … in the World Values Survey, and democracy, all of which are good for growth as reflected in the purchasing power of per …
Persistent link: https://www.econbiz.de/10012892099
The commonly-used satellite images of nighttime lights fail to capture the true brightness of most cities. We show that night lights are a reliable proxy for economic activity at the city level, provided they are first corrected for top-coding. We present a stylized model of urban luminosity and...
Persistent link: https://www.econbiz.de/10012892172
We investigate the sources of the great changes in GDP volatility observed from 1966 to 2000. We develop a general equilibrium model and calibrate it to US data in order to characterize the contribution of micro level productivity shocks, inter-sectoral linkages and households' behavior to...
Persistent link: https://www.econbiz.de/10012892302
This paper studies the investment based growth rate effects of climate change. The analysis is based on the Integrated Assessment Model DICE by Nordhaus (2008). I depart from the original model, in that endogenous investments into a knowledge stock drive economic growth. Due to a negative...
Persistent link: https://www.econbiz.de/10012865176
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
The nexus between corruption and economic growth has been examined for a long time. Many empirical studies measured corruption by the reversed Transparency International's Perception of Corruption Index (CPI) and ignored that the CPI was not comparable over time. The CPI is comparable over time...
Persistent link: https://www.econbiz.de/10012861457