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negative effect on the wage of the low-skilled at the bottom of the wage distribution. With lower returns from employment, the …. The findings provide evidence against the commonly used argument that wage flexibility improves the employment prospects …
Persistent link: https://www.econbiz.de/10010335418
, the United Kingdom, and the United States. The paper compares trends in the household living arrangements, employment … this general pattern. Between the mid-1980s and 2000 employment rates improved among young Americans in their late 20s and … early 30s, and earnings levels either remained stable or increased modestly. The stability of U.S. employment levels helped …
Persistent link: https://www.econbiz.de/10010335462
.e. by differing probabilities of any employment? Across OECD countries there are large differences in the average level and … employment. The participation level is particularly important for inequality differences and there is persuasive evidence that … country attitudes to paid employment, particularly for women, differ significantly. This paper uses Luxembourg Income Study …
Persistent link: https://www.econbiz.de/10011653052
We characterize the response of U.S., German and British stock, bond and foreign exchange markets to real-time U.S. macroeconomic news. Our analysis is based on a unique data set of high-frequency futures returns for each of the markets. We find that news surprises produce conditional mean...
Persistent link: https://www.econbiz.de/10010298290
We develop a multivariate generalization of the Markov-switching GARCH model introduced by Haas, Mittnik, and Paolella (2004b) and derive its fourth-moment structure. An application to international stock markets illustrates the relevance of accounting for volatility regimes from both a...
Persistent link: https://www.econbiz.de/10010298391
We estimate the degree of 'stickiness' in aggregate consumption growth (sometimes interpreted as reflecting consumption habits) for thirteen advanced economies. We find that, after controlling for measurement error, consumption growth has a high degree of autocorrelation, with a stickiness...
Persistent link: https://www.econbiz.de/10010298392
it, and within countries are strongly associated with exogenous shocks to wealth and employment. …
Persistent link: https://www.econbiz.de/10010303711
The popular Nelson-Siegel (1987) yield curve is routinely fit to cross sections of intra-country bond yields, and Diebold and Li (2006) have recently proposed a dynamized version. In this paper we extend Diebold-Li to a global context, modeling a potentially large set of country yield curves in...
Persistent link: https://www.econbiz.de/10010303750
Based on the earlier work of one of the authors, this paper develops a unified methodology to compare tax progression for dominance relations under different income distributions. We address it as uniform tax progression for different income distributions and present the respective approach for...
Persistent link: https://www.econbiz.de/10010335339
We examine the poverty rates and the income configurations among Japan and the LIS countries. The LIS countries are Germany, Italy, the UK, Denmark, the US, and Taiwan. We divide household including elderly into five types: living alone, couples only, living with their married children, living...
Persistent link: https://www.econbiz.de/10010335344