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The role of asset markets for private consumption: evidence from paneleconometric models
Dreger, Christian; Reimers, Hans-Eggert - 2009
We explore the long and short run relationship between private consumption, disposable income and housing and financial wealth approximated by price indices for a panel of industrialized countries. Consumption, income and wealth are cointegrated in their common, but not in their idiosyncratic...
Persistent link: https://www.econbiz.de/10010271108
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On the Stability of the German Beveridge Curve: A Spatial Econometric Perspective
Kosfeld, Reinhold; Dreger, Christian; Eckey, Hans-Friedrich - 2006
In this paper, the framework of the aggregated Beveridge curve is used to investigate the effectiveness of the job matching process using German regional labour market data. For a fixed matching technology, the Beveridge curve postulates a negative relationship between the unemployment rate and...
Persistent link: https://www.econbiz.de/10010260953
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European Regional Convergence in a Human Capital Augmented Solow Model
Eckey, Hans-Friedrich; Dreger, Christian; Türck, Matthias - 2006
In this paper, the process of productivity convergence is investigated for the enlarged European Union using regional (NUTS-2) data. The Solow model extended by human capital is employed as a workhorse. Alternative strategies are proposed to control for spatial effects. All specifications...
Persistent link: https://www.econbiz.de/10010260988
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European Regional Convergence in a Human Capital Augmented Solow Model
Eckey, Hans-Friedrich; Dreger, Christian; Türck, Matthias - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2006
In this paper, the process of productivity convergence is investigated for the enlarged European Union using regional (NUTS-2) data. The Solow model extended by human capital is employed as a workhorse. Alternative strategies are proposed to control for spatial effects. All specifications...
Persistent link: https://www.econbiz.de/10004963803
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On the Stability of the German Beveridge Curve: A Spatial Econometric Perspective
Kosfeld, Reinhold; Dreger, Christian; Eckey, Hans-Friedrich - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2006
In this paper, the framework of the aggregated Beveridge curve is used to investigate the effectiveness of the job matching process using German regional labour market data. For a fixed matching technology, the Beveridge curve postulates a negative relationship between the unemployment rate and...
Persistent link: https://www.econbiz.de/10005069059
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Do wealthier households save more? The impact of the demographic factor
Belke, Ansgar; Dreger, Christian; Ochmann, Richard - 2012
the savings rate is not homogeneous. On average, the effect attributed to real estate dominates the other components of … wealth. In addition, the savings rate strongly responds to demographic trends. Besides the direct impact of the age structure …, an indirect effect arises through the accumulation of wealth. The savings rate does not decrease with age in a monotonic …
Persistent link: https://www.econbiz.de/10010287332
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Do Wealthier Households Save More?: The Impact of the Demographic Factor
Belke, Ansgar; Dreger, Christian; Ochmann, Richard - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2012
the savings rate is not homogeneous. On average, the effect attributed to real estate dominates the other components of … wealth. In addition, the savings rate strongly responds to demographic trends. Besides the direct impact of the age structure …, an indirect effect arises through the accumulation of wealth. The savings rate does not decrease with age in a monotonic …
Persistent link: https://www.econbiz.de/10010551077
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M3 money demand and excess liquidity in the euro area
Dreger, Christian; Wolters, Jürgen - 2008
Money growth in the euro area has exceeded its target since 2001. Likewise, recent empirical studies did not find evidence in favour of a stable long run money demand function. The equation appears to be increasingly unstable if more recent data are used. If the link between money balances and...
Persistent link: https://www.econbiz.de/10010291768
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Money velocity and asset prices in the euro area
Dreger, Christian; Wolters, Jürgen - 2008
Monetary growth in the euro area has exceeded its target since several years. At the same time, the money demand function seems to be increasingly unstable if more recent data are used. If the link between money balances and the macroeconomy is fragile, the rationale of monetary aggregates in...
Persistent link: https://www.econbiz.de/10010291770
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Energy consumption and economic growth: New insights into the cointegration relationship
Belke, Ansgar; Dreger, Christian; de Haan, Frauke - 2010
This paper examines the long-run relationship between energy consumption and real GDP, including energy prices, for 25 OECD countries from 1981 to 2007. The distinction between common factors and idiosyncratic components using principal component analysis allows to distinguish between...
Persistent link: https://www.econbiz.de/10010274071