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Identifying Regional Labor Demand Shocks Using Sign Restrictions
Juessen, Falko - 2012
We propose using sign restrictions to identify regional labor demand shocks in a panel VAR of US federal states. Observed migration responds significantly, but less persistently than the residual-based migration measure constructed by Blanchard and Katz (1992)
Persistent link: https://www.econbiz.de/10013099800
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Trade and Worker Deskilling
Dhingra, Swati - 2019
produced an unprecedentedly large shock to the UK exchange rate. In the 24 hours in June 2016 during which the UK electorate … respect to intermediate import prices to theory uncovers evidence of a production complementarity between workers and …
Persistent link: https://www.econbiz.de/10012868799
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The Role of the Exchange Rate Regime in the Process of Real and Nominal Convergence
D'Adamo, Gaetano - 2013
During the last decade, economists have intensively searched for evidence on the importance of the Balassa-Samuelson (B-S) hypothesis in explaining nominal convergence. One general result is that B-S can at best explain only part of the excess inflation observed in the European catching-up...
Persistent link: https://www.econbiz.de/10013074886
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Uncertainty Shocks and Unemployment Dynamics
2020
Recent events suggest that uncertainty changes play a major role in U.S. labor market fluctuations. This study analyzes the impact of uncertainty shocks on unemployment dynamics. Using a vector autoregression approach, we show that uncertainty shocks measured by stock market volatility have a...
Persistent link: https://www.econbiz.de/10012829214
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An Empirical Growth Model for Major Oil Exporters
Esfahani, Hadi Salehi - 2012
-run output equation with a coefficient equal to the share of capital (α). The long-run theory is tested using quarterly data on … results support the long-run theory. The existence of long-run relations between real output, foreign output and real oil … steadily over the past three decades, the theory suggests that the effect of oil income on the economy's steady state growth …
Persistent link: https://www.econbiz.de/10013107701
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Aggregation in Large Dynamic Panels
Pesaran, M. Hashem - 2011
Carlo experiments, where we also study the estimation of the aggregate effects of micro and macro shocks. The paper …
Persistent link: https://www.econbiz.de/10013129942
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Cyclical Skill-Biased Technological Change
Balleer, Almut - 2009
Over the past two decades, technological progress has been biased towards making skilled labor more productive. What does skill-biased technological change imply for business cycles? To answer this question, we construct a quarterly series for the skill premium from the CPS and use it to...
Persistent link: https://www.econbiz.de/10013158513
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Modelling Volatilities and Conditional Correlations in Futures Markets with a Multivariate T Distribution
Pesaran, Bahram; Pesaran, M. Hashem - 2021
than by GARCH type volatility estimates. The t-DCC estimation procedure is applied to a portfolio of daily returns on …-DCC specification. The t-DCC model also passes a number of VaR diagnostic tests over an evaluation sample. The estimation results …
Persistent link: https://www.econbiz.de/10013316934
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Modeling Life-Cycle Earnings Risk with Positive and Negative Shocks
Sanchez Garcia, Manuel - 2017
We study workers' idiosyncratic earnings risk over the life-cycle using a German administrative data set. Positive and negative earnings shocks both contain a highly persistent component. The variance and average size of positive persistent shocks is decreasing over the life-cycle. The...
Persistent link: https://www.econbiz.de/10012948657
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Identifying the Substitution Effect of Temporary Agency Employment
Jahn, Elke J. - 2012
innovations by volatility regimes. We show that a positive shock to temporary agency employment increases overall employment, but …
Persistent link: https://www.econbiz.de/10013107696