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Modelling Heterogeneity and Dynamics in the Volatility of Individual Wages
Hospido, Laura - 2010
This paper presents a model for the heterogeneity and dynamics of the conditional mean and the conditional variance of standardized individual wages. In particular, a heteroskedastic autoregressive model with multiple individual fixed effects is proposed. The expression for a modified likelihood...
Persistent link: https://www.econbiz.de/10013148328
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The Effect on Foreign Direct Investment of Membership in the European Union
Bruno, Randolph Luca - 2020
This paper explores the impact of EU membership on foreign direct investment (FDI). It analyses empirically how the effects of such deep integration differ from other forms and investigates what drives these effects. Using a structural gravity framework on annual bilateral FDI data for almost...
Persistent link: https://www.econbiz.de/10012823325
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Financial Globalization and Economic Policies
Kose, M. Ayhan - 2011
We review the large literature on various economic policies that could help developing economies effectively manage the process of financial globalization. Our central findings indicate that policies promoting financial sector development, institutional quality and trade openness appear to help...
Persistent link: https://www.econbiz.de/10012756256
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The Real Exchange Rate and Growth in Zimbabwe : Does the Currency Regime Matter?
Brixiova, Zuzana - 2014
Zimbabwe faces growth and external competitiveness challenges, as indicated by its low trend growth and investment, declining share in the world exports, high current account deficits, and external debt. The stock-flow approach to the equilibrium exchange rate reveals that the real exchange rate...
Persistent link: https://www.econbiz.de/10013047877
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Financial Sector Regulation and Reforms in Emerging Markets : An Overview
Prasad, Eswar S. - 2010
This paper provides an overview of the complex conceptual and practical challenges that emerging market economies face as they attempt to reform their frameworks for financial regulation. These economies are striving to balance the quest for financial stability with the imperatives of financial...
Persistent link: https://www.econbiz.de/10013136951
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International Specialization and the Return to Capital
Batista, Catia - 2010
How does factor accumulation affect the pattern of international specialization and returns to capital? We provide a new integrated treatment to this question using a panel of 44 developing and developed countries over the period 1976-2000. We confirm the Heckscher-Ohlin prediction that, with...
Persistent link: https://www.econbiz.de/10013148352
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On the Role of Sectoral and National Components in the Wage Bargaining Process
Dreger, Christian - 2010
This paper provides an empirical analysis on the determination of wages at the sectoral level in main industrial economies. Nominal wages are bargained between labour unions and employers in imperfect competitive markets, where spillovers across sectors might occur. Using a principal component...
Persistent link: https://www.econbiz.de/10013144083
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How Do Trade and Financial Integration Affect the Relationship between Growth and Volatility
Kose, M. Ayhan; Prasad, Eswar S.; Terrones, Marco E. - 2021
as conventional wisdom - that output volatility and growth are negatively correlated. We reexamine this relationship in … basic negative association between growth and volatility has been preserved during the 1990s, both trade and financial … interaction between volatility and trade integration is significantly positive. We find a similar, although less significant …
Persistent link: https://www.econbiz.de/10013318610
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The Coming Wave : Where Do Emerging Market Investors Put Their Money?
Karolyi, George Andrew - 2015
We examine how emerging market (EM) investors allocate their stock portfolios internationally. Using both country-level and institution-level data, we find that the coming wave of EM investors systematically over- and under-weight their holdings in some target countries. These abnormal foreign...
Persistent link: https://www.econbiz.de/10013013596
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Private Wealth and Planned Early Retirement : A Panel Data Analysis for the Netherlands, 1994-2009
van Ooijen, Raun - 2010
We study the causal relation between private wealth and retirement age. We propose two estimation strategies based on expected retirement age. The outcome variable is observed repeatedly over time. We correct first for the unobserved heterogeneity in the disutility of work by using panel data...
Persistent link: https://www.econbiz.de/10013135647