Showing 1 - 10 of 1,096
This paper uses micro panel data to examine differences in the cyclical variability of employment, hours, and real wages for skilled and unskilled workers. Contrary to conventional wisdom, we find that, at the aggregate level, skilled and unskilled workers are subject to essentially the same...
Persistent link: https://www.econbiz.de/10014396186
Hours worked vary widely across countries and over time. In this paper, we investigate the role played by taxation in explaining these differences for EU New Member States. By extending a standard growth model with novel data on consumption and labor taxes, we assess the evolution of trends in...
Persistent link: https://www.econbiz.de/10012102041
Legally mandated reductions in the workweek can be either a constraint on individuals'' choice or a tool to coordinate individuals'' preferences for lower work hours. We confront these two hypotheses by studying the consequences of the workweek reduction in France from 39 to 35 hours, which was...
Persistent link: https://www.econbiz.de/10014400283
The paper investigates the relationship between labor taxation and unemployment in Sweden by estimating a labor market model that includes a wage-setting locus and labor demand and supply relationships. The study simulates the effect of a 1 percentage point increase in the payroll tax and in...
Persistent link: https://www.econbiz.de/10014400829
This paper proposes an approach to track US$1 trillion of emerging market government debt held by foreign investors in local and hard currency, based on a similar approach that was used for advanced economies (Arslanalp and Tsuda, 2012). The estimates are constructed on a quarterly basis from...
Persistent link: https://www.econbiz.de/10014411133
attracted increasing interest from the international community with the G-20, IMF, and World Bank Group assuming an active role …
Persistent link: https://www.econbiz.de/10014411145
risks associated with increased cross-border capital flows and greater integration with the rest of the world …
Persistent link: https://www.econbiz.de/10014411153
This paper provides a definition of global liquidity consistent with its meaning as the “ease of financing” in international financial markets. Using a longer time series and broader sample of countries than in previous studies, it identifies global factors driving cross-border bank flows,...
Persistent link: https://www.econbiz.de/10014411210
We create a network of bilateral correlations of changes in sovereign bond yields and individual bank equity price changes since 2000. We extract some stylized facts from this network of asset price correlations and document the clear differences in asset price correlations between safe havens...
Persistent link: https://www.econbiz.de/10014411222
We analyze holdings of public bonds by over 20,000 banks in 191 countries, and the role of these bonds in 20 sovereign defaults over 1998-2012. Banks hold many public bonds (on average 9% of their assets), particularly in less financially-developed countries. During sovereign defaults, banks...
Persistent link: https://www.econbiz.de/10014411356