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What Determines the Reservation Wages of Unemployed Workers? New Evidence From German Micro Data

Prasad, Eswar - International Monetary Fund (IMF) - 2003

This paper provides new empirical evidence on the relationship between reservation wages of unemployed workers and … perspective on how reservation wages change over time and how they correlate with accepted wage offers for workers who move from … unemployment to employment. The findings shed light on the disincentive effects of the German tax and transfer system for the …

Persistent link: https://www.econbiz.de/10005826626

The Unbearable Stability of the German Wage Structure; Evidence and Interpretation

Prasad, Eswar - International Monetary Fund (IMF) - 2000

forces. The rigidity of relative wages, despite relative shifts in labor demand that favor skilled workers, has resulted in … sharp declines in employment rates for unskilled workers. The microeconomic evidence is shown to have important implications …

Persistent link: https://www.econbiz.de/10005599346

How Does Financial Globalization Affect Risk Sharing? Patterns and Channels

Terrones, Marco; Kose, M. Ayhan; Prasad, Eswar - International Monetary Fund (IMF) - 2007

In theory, one of the main benefits of financial globalization is that it should allow for more efficient international risk sharing. This paper provides a comprehensive empirical evaluation of the patterns of risk sharing among different groups of countries and examines how international...

Persistent link: https://www.econbiz.de/10005263747

Financial Globalization; A Reappraisal

Kose, M. Ayhan; Prasad, Eswar; Rogoff, Kenneth; Wei, … - International Monetary Fund (IMF) - 2006

The literature on the benefits and costs of financial globalization for developing countries has exploded in recent years, but along many disparate channels and with a variety of apparently conflicting results. For instance, there is still little robust evidence of the growth benefits of broad...

Persistent link: https://www.econbiz.de/10005263828

Financial Integration and Macroeconomic Volatility

Terrones, Marco; Prasad, Eswar; Kose, M. Ayhan - International Monetary Fund (IMF) - 2003

This paper examines the impact of international financial integration on macroeconomic volatility in a large group of industrial and developing economies over the period 1960-99. We report two major results: First, while the volatility of output growth has, on average, declined in the 1990s...

Persistent link: https://www.econbiz.de/10005263967

Global Business Cycles; Convergence or Decoupling?

Kose, M. Ayhan; Prasad, Eswar; Otrok, Christopher - International Monetary Fund (IMF) - 2008

This paper analyzes the evolution of the degree of global cyclical interdependence over the period 1960-2005. We categorize the 106 countries in our sample into three groups-industrial countries, emerging markets, and other developing economies. Using a dynamic factor model, we then decompose...

Persistent link: https://www.econbiz.de/10005825794

How Do Trade and Financial Integration Affect the Relationship Between Growth and Volatility?

Prasad, Eswar; Terrones, Marco; Kose, M. Ayhan - International Monetary Fund (IMF) - 2005

The influential work of Ramey and Ramey (1995) highlighted an empirical relationship that has now come to be regarded as conventional wisdom-that output volatility and growth are negatively correlated. We reexamine this relationship in the context of globalization-a term typically used to...

Persistent link: https://www.econbiz.de/10005825974

The Impact of U.S. Economic Growthon the Rest of the World; How Much Does it Matter?

Vamvakidis, Athanasios; Arora, Vivek B. - International Monetary Fund (IMF) - 2001

This paper provides a quantitative assessment of the impact of economic growth in the United States on growth in other countries. Using panel data estimation, the paper finds a significant positive impact of U.S. growth on growth in the rest of the world, especially developing countries, during...

Persistent link: https://www.econbiz.de/10005769024

The Implications of South African Economic Growth for the Rest of Africa

Arora, Vivek B.; Vamvakidis, Athanasios - International Monetary Fund (IMF) - 2005

This paper measures the extent to which South African economic growth is an engine of growth in sub-Saharan Africa. Results based on panel data estimation for 47 African countries over four decades suggest that South African growth has a substantial positive impact on growth in the rest of...

Persistent link: https://www.econbiz.de/10005599760

How Much Do Trading Partners Matter for Economic Growth?

Arora, Vivek B.; Vamvakidis, Athanasios - International Monetary Fund (IMF) - 2004

This paper empirically examines the extent to which a country's economic growth is influenced by its trading partner economies. Panel estimation results based on four decades of data for over 100 countries show that trading partners' growth and relative income levels have a strong effect on...

Persistent link: https://www.econbiz.de/10005605092