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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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From Fossil Fuels to Renewables: The Role of Electricity Storage
Lazkano, Itziar; Nøstbakken, Linda; Pelli, Martino - 2016
We analyze the role of electricity storage for technological innovations in electricity generation. We propose a directed technological change model of the electricity sector, where innovative firms develop better electricity storage solutions, which affect not only the relative competitiveness...
Persistent link: https://www.econbiz.de/10011522469
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Identification and Estimation of the Environmental Kuznets Curve: Pairwise Differencing to Deal with Nonlinearity and Nonstationarity
Sen, Suphi; Melenberg, Bertrand; Vollebergh, Herman R. J. - 2016
make use of estimators that likely suffer less from heterogeneity, cross-sectional dependence, and other common factor …
Persistent link: https://www.econbiz.de/10011451447
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Forecasting With Panel Data: Estimation Uncertainty Versus Parameter Heterogeneity
Pesaran, M. Hashem; Pick, Andreas; Timmermann, Allan - 2022
-sectional (N) and time (T) dimensions and varying degrees of parameter heterogeneity. We investigate conditions under which panel … accuracy depend on the degree of parameter heterogeneity, whether heterogeneity is correlated with the regressors, the goodness …
Persistent link: https://www.econbiz.de/10013266655
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Structural change in OECD comparative advantage
Brakman, Steven; Inklaar, Robert; van Marrewijk, Charles - 2010
In the post-war period, the goods composition of trade in OECD countries has changed considerably. We analyze the evolution of comparative advantage using a detailed trade data set and a new analytical tool: the harmonic (weighted) mass index, which enables us to identify periods of structural...
Persistent link: https://www.econbiz.de/10010270555
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Jointness of growth determinants
Doppelhofer, Gernot; Weeks, Melvyn - 2007
This paper introduces a new measure of dependence or jointness among explanatory variables. Jointness is based on the joint posterior distribution of variables over the model space, thereby taking model uncertainty into account. By looking beyond marginal measures of variable importance,...
Persistent link: https://www.econbiz.de/10010264116
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Price dispersion in the Euro Area : the case of a symmetric oil price shock
Carstensen, Kai; Hülsewig, Oliver; Wollmershäuser, Timo - 2009
according to the impact of the oil price shock on the overall price level. While crosscountry heterogeneity in the shortrun … passthrough can be attributed to different weights of energy items in the consumption basket, heterogeneity in the mediumrun …
Persistent link: https://www.econbiz.de/10010271958
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Firm heterogeneity and credit risk diversification
Hanson, Samuel; Pesaran, Mohammad Hashem; Schuermann, Til - 2005
assumptions regarding the structure of systematic and idiosyncratic risks and the nature of firm heterogeneity. The theoretical … portfolio weights. In either case, neglecting parameter heterogeneity can lead to underestimation of expected losses. But, once … expected losses are controlled for, neglecting parameter heterogeneity can lead to overestimation of risk, whether measured by …
Persistent link: https://www.econbiz.de/10010276169
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Common Correlated Effects Estimation of Heterogeneous Dynamic Panel Quantile Regression Models
Harding, Matthew - 2018
This paper proposes a quantile regression estimator for a heterogeneous panel model with lagged dependent variables and interactive effects. The paper adopts the Common Correlated Effects (CCE) approach proposed by Pesaran (2006) and Chudik and Pesaran (2015) and demonstrates that the extension...
Persistent link: https://www.econbiz.de/10012908711
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Forecasting with Panel Data : Estimation Uncertainty Versus Parameter Heterogeneity
Pesaran, M. Hashem; Pick, Andreas; Timmermann, Allan - 2022
-sectional (N) and time (T) dimensions and varying degrees of parameter heterogeneity. We investigate conditions under which panel … accuracy depend on the degree of parameter heterogeneity, whether heterogeneity is correlated with the regressors, the goodness …
Persistent link: https://www.econbiz.de/10013292495