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In designing a production model for firms that generate multiple outputs, we take as a starting point that such multi-output production refers to economies of scope, which in turn originate from joint input use and input externalities. We provide a nonparametric characterization of cost...
Persistent link: https://www.econbiz.de/10012779393
. These allow accounting for both the direct effects of sectoral regulation on within-sector performance and the indirect … effects of sectoral regulation on firms in other sectors through intersectoral input-output linkages. Our econometric … at the global technological frontier and a catch up term. We assume that regulation can affect productivity growth both …
Persistent link: https://www.econbiz.de/10013129907
We analyze how an entry regulation that imposes a mandatory educational standard affects entry into self-employment and … Germany after reunification. Consistent with our expectations, we find that entry regulation reduces entry into self …
Persistent link: https://www.econbiz.de/10013158672
Does regulation affect the pace and nature of innovation and if so, by how much? We build a tractable and quantifiable ….4% lower due to the regulation, a 2.2% consumption equivalent welfare loss. Four-fifths of this loss is due to lower innovation … changes in the direction of R&D, and find that regulation's negative effects only matter for incremental innovation (as …
Persistent link: https://www.econbiz.de/10013248072
regulation. We focus on two issues that should receive more attention in discussions of Mexican policy. (1) The family is under … heavy burden of monopoly and regulation. We find little evidence that the introduction of social protection programs for …
Persistent link: https://www.econbiz.de/10013148068
We exploit long time series of industry-level data in a group of OECD countries to analyze the short-term labor market effects of reforms lowering barriers to entry and dismissal costs. Our estimates show that both policies induce non-negligible transitory employment losses, a result that is...
Persistent link: https://www.econbiz.de/10012947130
This paper provides robust estimates of the impact of both product and labour market regulations on unemployment using data for 24 European countries over the period 1998-2013. Controlling for country-fixed effects, endogeneity and a large set of covariates, results show that product market...
Persistent link: https://www.econbiz.de/10012915739
This paper considers a multivariate t version of the Gaussian dynamic conditional correlation(DCC) model proposed by Engle (2002), and suggests the use of devolatized returnscomputed as returns standardized by realized volatilities rather than by GARCH type volatilityestimates. The t-DCC...
Persistent link: https://www.econbiz.de/10005862589
This paper describes a moments estimator for a standard state-space model with coefficients generated by a random walk. A penalized least squares estimation is linked to the GLS (Aitken) estimates of the corresponding linear model with time-invariant parameters. The VC estimates are moments...
Persistent link: https://www.econbiz.de/10012843151
This papers describes an estimator for a standard state-space model with coefficients generated by a random walk that is statistically superior to the Kalman filter as applied to this particular class of models. Two closely related estimators for the variances are introduced: A maximum...
Persistent link: https://www.econbiz.de/10012780458