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Hayo, Bernd; Uhl, Matthias - 2012

This paper studies regional output asymmetries following U.S. federal tax shocks. We estimate a vector autoregressive model for each U.S. state, utilizing the exogenous tax shock series recently proposed by Romer and Romer (2010) and find considerable variations: estimated output multipliers lie...

Persistent link: https://www.econbiz.de/10010294366

Vocational schools as an instrument of interregional competition: Empirical evidence from German counties

Bischoff, Ivo; Hauschildt, Julia - 2017

The German apprenticeship system is widely known throughout the world. We analyze expenditures on vocational schools on county level using data from 213 West-German counties between 2001 and 2006. We use spatial econometrics to test for spatial correlation in counties' expenditure on vocational...

Persistent link: https://www.econbiz.de/10011787814

Review of literature on the productivity of public capital

Hamalainen, Pellervo - 2009

This paper summarizes previous results on the productivity of public capital. In recent literature, Aschauer's (1989) estimate for the productivity of public capital is often considered too high and the size of the effect is still open to debate. However, the positive effect of public capital on...

Persistent link: https://www.econbiz.de/10012503009

Housing market convergence: Evidence from Germany

Unal, Umut; Hayo, Bernd; Erol, Isil - 2022

This paper provides an analysis of the convergence pattern of German housing prices and rents employing a new dataset … that covers all the country's administrative districts. In addition to conventional tests for β-convergence and δ-convergence … districts. Our results reveal no evidence of convergence across Germany or within states; rather, we discover widespread …

Persistent link: https://www.econbiz.de/10014322584

Offshoring, Relocation and the Speed of Convergence: Convergence in the Enlarged European Union

Alho, Kari E. O.; Kaitila, Ville; Widgrén, Mika - 2008

Economic convergence of the new member states (NMS) of the EU towards the old EU countries (EU-15), not only in terms … indebtedness. At the same time we evaluate the impact of convergence on the EU-15 countries also, by endogenising offshoring and … process of convergence. We find that in a general equilibrium setting fears of large adverse effects of a relocation of EU-15 …

Persistent link: https://www.econbiz.de/10012502995

Values and norms matter: on the basic determinants of long-run economic development

Voigt, Stefan; Park, Sang-Min - 2008

Over the last couple of decades, it has become a commonplace to claim that institutions matter" for economic development. Yet, institutions are not exogenous but the result of hu-man action. It is argued here that the values and norms held by substantial parts of society’s members are an...

Persistent link: https://www.econbiz.de/10010330089

Geography, parental investment, and comparative economic Development

Grall, Lothar - 2016

This paper suggests differential parental investment as a theoretical link between geographical conditions and comparative economic development, possibly accounting for the reversal of fortune in the process of development with respect to land productivity. The paper develops an evolutionary...

Persistent link: https://www.econbiz.de/10011616166

Remittance flows and U.S. monetary policy

Machasio, Immaculate; Tillmann, Peter - 2021

Remittance inflows are driven by macroeconomic conditions in the home and the host economies, respectively. In this paper, we study the effect of U.S. monetary policy on remittance flows into economies in Latin American and the Caribbean. The role of Fed policy for remittances has not yet been...

Persistent link: https://www.econbiz.de/10013193550

Intergenerational Mobility and Macroeconomic History Dependence

Mokherjee, Dilip; Napel, Stefan - 2006

dynamics to fail to converge, but convergence can be restored in the presence of sufficient inertia or occupation switching …

Persistent link: https://www.econbiz.de/10012502955

Optimal Economic Growth Using Fiscal and Monetary Policies

Bougrine, Hassan; Rakkolainen, Teppo A. - 2009

The literature on growth theory is rich with models attempting to explain growth differences among countries. Several variables have been proposed many of which were found to be positively related to growth. However, a major problem with these models is that the factors explaining growth are...

Persistent link: https://www.econbiz.de/10012503004