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Estimating the Smoothing Parameter in the So-Called Hodrick-Prescott Filter

Schlicht, Ekkehart - 2004

This note gives a fairly complete statistical description of the Hodrick-Prescott Filter (1997) which has been proposed in the context of my seasonal adjustment method (Schlicht 1981, 1984). A statistics estimator for the smoothing parameter is proposed that is asymptotically equivalent to the...

Persistent link: https://www.econbiz.de/10010261819

Are labor force participation rates really non-stationary? Evidence from three OECD countries

Ozdemir, Zeynel Abidin; Balcilar, Mehmet; Tansel, Aysit - 2012

This paper shows that the structural breaks are an important characteristic of the monthly labor force participation rate (LFPR) series of Australia, Canada and the USA. Therefore we allow for endogenously determined multiple structural breaks in the empirical specifications of fractionally...

Persistent link: https://www.econbiz.de/10010283936

Google econometrics and unemployment forecasting

Askitas, Nikolaos; Zimmermann, Klaus F. - 2009

The current economic crisis requires fast information to predict economic behavior early, which is difficult at times of structural changes. This paper suggests an innovative new method of using data on internet activity for that purpose. It demonstrates strong correlations between keyword...

Persistent link: https://www.econbiz.de/10010269318

Real wages and the business cycles in Germany

Marczak, Martyna; Beissinger, Thomas - 2010

This paper establishes stylized facts about the cyclicality of real consumer wages and real producer wages in Germany. As detrending methods we apply the deterministic trend model, the Beveridge-Nelson decomposition, the Hodrick-Prescott filter, the Baxter-King filter and the structural time...

Persistent link: https://www.econbiz.de/10010274586

On the role of sectoral and national components in the wage bargaining process

Dreger, Christian; Reimers, Hans-Eggert - 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/10010269817

Minimum wages and employment: reconsidering the use of a time-series approach as an evaluation tool

Lee, Wang-Sheng; Suardi, Sandy - 2010

The time-series approach used in the minimum wage literature essentially aims to estimate a treatment effect of increasing the minimum wage. In this paper, we employ a novel approach based on aggregate time-series data that allows us to determine if minimum wage changes have significant effects...

Persistent link: https://www.econbiz.de/10010269656

The Variability and Volatility of Sleep: An Archetypal Approach

Hamermesh, Daniel S.; Pfann, Gerard A. - 2022

individuals' sleep time exhibits both variability and volatility characterized by stationary autoregressive conditional … young children at home. Volatility is greater among parents with young children, slightly greater among men than women, but … rates. Volatility in sleep spills over onto volatility in other personal activities, with no reverse causation onto sleep …

Persistent link: https://www.econbiz.de/10012882577

Pay and Productivity in a Corporatist Economy: Evidence from Austria

Fuess, Jr. Scott M.; Millea, Meghan - 2001

Conventional theory predicts that productivity gains lead to hikes in real pay. Efficiency wage theory hypothesizes that pay increases can lead to productivity improvements. But would such results be observed in a corporatist economy with centralized bargaining? For the case of Austria, a...

Persistent link: https://www.econbiz.de/10010262451

Employment Adjustment in Portugal: Evidence from Aggregate and Firm Data

Addison, John T.; Teixeira, Paulino - 2001

This paper examines the pattern of employment adjustment in Portugal. First, the issue is addressed using a long time series of aggregate data. Although the employment data show persistence, there is nonetheless a fairly rapid rate of employment adjustment. Second, a much shorter time series of...

Persistent link: https://www.econbiz.de/10010262595

Disentangling Pay and Productivity in a Corporatist Economy: The Case of Germany

Fuess, Jr. Scott M.; Millea, Meghan - 2002

Conventional theory predicts that productivity gains lead to pay hikes. Pay increases, however, can influence labor productivity. But what about in a corporatist economy? Focusing on Germany, we use an innovative technique developed by Geweke to disentangle the relationship between pay and...

Persistent link: https://www.econbiz.de/10010273751

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