for the validity of the monetary exchange rate modelwithin a panel of vector error correction models for three …

We analyse the determinants of unemployment persistence in four OECDcountries byestimating a structural Bayesian VAR … with an informative priorbased on an insiders/outsiders model. We explicitly insert unemployment ben-efits and labour taxes … so that our identification is not affected by the Faust andLeeper (1997) critique. We find widespread hysteresis: demand …

increase in the pace of job creation and destruction may have substantial effects on employment and unemployment;the effects … may be out of its unemployment equilibrium for quite a long time after a shock occurs.The novelty of the model is that it … takes explicitly account of the propagationof shocks through the various duration classes of unemployment andallows for …

To study the effect of the euro on international goods trade one typically estimates a panel model for the level of … explain the upward trend. To correct for that, we extend the panel model (a gravity model) by including a time trend that may …

-effect directly from data that include EMU observations. Using a dynamic panel model for annual bilateral exports, we find that the …

flows on wage formation as alternative to the traditional specification of wage equations where unemployment represents the … Phillips-curve or wage curve-effects. We estimate a dynamic wage equation for the Netherlands using a cointegration approach …