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Identification of New Keynesian Phillips Curves from a global perspective
Dées, Stephane; Pesaran, M. Hashem; Smith, L. Vanessa; … - 2008
New Keynesian Phillips Curves (NKPC) have been extensively used in the analysis of monetary policy, but yet there are a number of issues of concern about how they are estimated and then related to the underlying macroeconomic theory. The first is whether such equations are identified. To check...
Persistent link: https://www.econbiz.de/10003652695
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Counteracting unemployment in crises : non-linear effects of short-time work policy
Gehrke, Britta; Hochmuth, Brigitte - 2018
Short-time work is a labor market policy that subsidizes working time reductions among firms in financial difficulty to prevent layoffs. Many OECD countries have used this policy in the Great Recession. This paper shows that the effects of short-time work are strongly time dependent and...
Persistent link: https://www.econbiz.de/10011845664
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Cross-country connectedness in inflation and unemployment: measurement and macroeconomic consequences
Binh Thai Pham; Sala, Hector - 2021
We bring the notion of connectedness (Diebold and Yilmaz, 2012) to a set of two critical macroeconomic variables as …. We find that total connectedness is larger for prices (58.28%) than for unemployment (41.81%). We also identify …. Besides, by exploring time-varying connectedness (resulting from country-specific shocks), we find that volatility spillovers …
Persistent link: https://www.econbiz.de/10012491801
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Incentive pay and performance : insider econometrics in a multi-unit firm
Bogaard, Hein; Švejnar, Jan - 2013
and Generalized Propensity Score estimation. Our results show that some of the reforms had a positive impact on …
Persistent link: https://www.econbiz.de/10010224591
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Transmission of US and EU economic policy uncertainty shock to Asian economies in bad and good times
Balcilar, Mehmet; Ozdemir, Zeynel Abidin; Ozdemir, Huseyin - 2020
This study empirically examines the fragility of five major Asian economies (China, Hong Kong, India, Japan, and South Korea) to economic policy uncertainty (EPU) of US and EU, and oil prices in different state of the economies. To investigate these dynamics, we use the relative tail dependence...
Persistent link: https://www.econbiz.de/10012226632
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On the exposure of the BRIC countries to global economic shocks
Belke, Ansgar; Dreger, Christian; Dubova, Irina - 2017
The financial crisis led to a deep recession in many industrial countries. While large emerging countries recovered relatively quickly from the financial crisis, their performance deteriorated in the recent years, despite the modest recovery in advanced economies. The higher divergence of...
Persistent link: https://www.econbiz.de/10011631497
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Infinite dimensional VARs and factor models
Chudik, Alexander (contributor);  … - 2007
that this will lead to a dynamic factor model with the dominant unit acting as the factor. The problems of estimation and …
Persistent link: https://www.econbiz.de/10003646695
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On the boundaries of the shadow economy : an empirical investigation
Manes, Eran; Schneider, Friedrich; Tchetchik, Anat - 2016
A large number of empirical studies pointed to the ongoing expansion of the shadow economy in many countries around the globe. A robust finding in these studies is the positive association between unemployment rates and the size of the unofficial sector. However, with consistent estimates of the...
Persistent link: https://www.econbiz.de/10011517459
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Economic governance of MFIs : inside the black box
Arun, Thankom; Annim, Samuel Kobina - 2010
This paper investigates a relationship between economic governance and the dual objectives of Microfinance Institutions (MFIs): poverty reduction and financial viability. Using an unbalanced panel of 531 MFIs the important role of other institutions such as country-level business registry...
Persistent link: https://www.econbiz.de/10009007018
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The value of business networks in emerging economies : an analysis of firms' external financing opportunities
Owolabi, Oluwarotimi; Pal, Sarmistha - 2011
The paper argues that networked firms are likely to have an advantage in securing external finance in countries with weak legal and judicial institutions since it helps financial institutions to minimize the underlying agency costs of lending. An analysis of recent BEEPS data from fifteen...
Persistent link: https://www.econbiz.de/10009307402