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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

Income Uncertainty and Household Savings in China

Liu, Kai; Chamon, Marcos; Prasad, Eswar - International Monetary Fund (IMF) - 2010

Chinaâ€™s household saving rate has increased markedly since the mid-1990s and the age-savings profile has become U-shaped. We find that rising income uncertainty and pension reforms help explain both of these phenomena. Using a panel of Chinese households covering the period 1989-2006, we...

Persistent link: https://www.econbiz.de/10008777024