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Current account imbalances and structural adjustment in the euro area: how to rebalance competitiveness

Zemanek, Holger; Belke, Ansgar; Schnabl, Gunther - 2009

Low international competitiveness of a set of euro area countries, which have become evident by large current account deficits and rising risk premiums on government bonds, is one of the most challenging economic policy issues for Europe. We analyse the role of private restructuring and public...

Persistent link: https://www.econbiz.de/10010271100

When does it hurt? The exchange rate pain threshold for German exports

Belke, Ansgar; Goecke, Matthias; Guenther, Martin - 2009

This paper deals with the impact of the $/¿ exchange rate on German exports in the period from 1995Q1 to 2008Q4. Our main aim is to identify pain thresholds for German exporters. We rely on a non-linear model according to which suddenly strong spurts of exports occur when changes of the EXR go...

Persistent link: https://www.econbiz.de/10010271139

Real convergence, capital flows, and competitiveness in central and Eastern Europe

Belke, Ansgar; Schnabl, Gunther; Zemanek, Holger - 2009

The paper scrutinizes the role of wages and capital flows for competitiveness in the new EU member states in the context of real convergence. For this purpose it extends the seminal Balassa-Samuelson model by international capital markets. The augmented Balassa-Samuelson model is linked to the...

Persistent link: https://www.econbiz.de/10010276616

Testing unemployment theories: A multivariate long memory approach

Caporale, Guglielmo Maria; Gil-Alaña, Luis A.; Lovcha, … - 2013

This paper investigates the empirical relevance of different unemployment theories in three major economies, namely the … UK, the US and Japan, by estimating the degree of dependence in the unemployment series. Both univariate and multivariate …. Specifically, when taking a univariate approach, the unit root null cannot be rejected in case of the UK and Japanese unemployment …

Persistent link: https://www.econbiz.de/10010327857

Employment growth, inflation and output growth: Was Phillips right? Evidence from a dynamic panel

Caporale, Guglielmo Maria; Škare, Marinko - 2011

In this paper we analyse the short- and long-run relationship between employment growth, inflation and output growth in Phillips' tradition. For this purpose we apply FMOLS, DOLS, PMGE, MGE, DFE, and VECM methods to a nonstationary heterogeneous dynamic panel including annual data for 119...

Persistent link: https://www.econbiz.de/10010286310

Persistence and cycles in US hours worked

Caporale, Guglielmo Maria; Gil-Alana, Luis A. - 2012

This paper analyses monthly hours worked in the US over the sample period 1939m1 - 2011m10 using a cyclical long memory model; this is based on Gegenbauer processes and characterised by autocorrelations decaying to zero cyclically and at a hyperbolic rate along with a spectral density that is...

Persistent link: https://www.econbiz.de/10010287319

Long memory in UK real GDP, 1851-2013: An ARFIMA-FIGARCH analysis

Caporale, Guglielmo Maria; Škare, Marinko - 2014

1851-2013 by estimating a multivariate ARFIMA-FIGARCH model (with the unemployment rate and inflation as explanatory …

Persistent link: https://www.econbiz.de/10010369272

The role of sickness in the evaluation of job search assistance and sanctions

Van den Berg, Gerard J.; Hofmann, Barbara; Uhlendorff, Arne - 2016

Unemployment insurance agencies may combat moral hazard by punishing refusals to apply to assigned vacancies. However … sanctions on the unemployment duration and the quality of job matches, in conjunction with the possibility to report sick. We … relative attractiveness of vacancy referrals increases over the time spent in unemployment. Overall, around 9% of sickness …

Persistent link: https://www.econbiz.de/10011415298

Social networks, job search methods and reservation wages: Evidence for Germany

Caliendo, Marco; Schmidl, Ricarda; Uhlendorff, Arne - 2010

In this paper we analyze the relationship between social networks and the job search behavior of unemployed individuals. It is believed that networks convey useful information in the job search process such that individuals with larger networks should experience a higher productivity of informal...

Persistent link: https://www.econbiz.de/10010285749