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Causal effects of monetary shocks: semiparametric conditional independence tests with a multinomial propensity score
Angrist, Joshua D.; Kuersteiner, Guido M. - 2008
Macroeconomists have long been concerned with the causal effects of monetary policy. When the identification of causal effects is based on a selection-on-observables assumption, non-causality amounts to the conditional independence of outcomes and policy changes. This paper develops a...
Persistent link: https://www.econbiz.de/10010270625
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Fiscal competition for imperfectly-mobile labor and capital: a comparative dynamic analysis
Wildasin, David E. - 2009
Interjurisdictional flows of imperfectly-mobile migrants, investment, and other productive resources result in the costly dynamic adjustment of resource stocks. This paper investigates the comparative dynamics of adjustment to changes in local fiscal policy with two imperfectly mobile productive...
Persistent link: https://www.econbiz.de/10010271272
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How does financial globalization affect risk sharing? Patterns and channels
Kose, M. Ayhan; Prasad, Eswar S.; Terrones, Marco E. - 2007
In theory, one of the main benefits of financial globalization is that it should allow for more efficient international risk sharing. In this paper, we provide a comprehensive empirical evaluation of the patterns of risk sharing among different groups of countries and examine how international...
Persistent link: https://www.econbiz.de/10010268195
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Does human capital protect workers against exogenous shocks? South Africa in the 2008 - 2009 crisis
Leung, Ron; Stampini, Marco; Vencatachellum, Désiré - 2009
capital provided a buffer against the shock. After controlling for observable characteristics, education and experience showed …
Persistent link: https://www.econbiz.de/10010269538
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International financial integration and Real Exchange Rate long-run dynamics in emerging countries: some panel evidence
Caporale, Guglielmo Maria; Amor, Thouraya Hadj; Rault, … - 2009
over-valuation in most Latin American and Asian countries. …
Persistent link: https://www.econbiz.de/10010271575
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The role of real wage rigidity and labor market frictions for unemployment and inflation dynamics
Christoffel, Kai; Linzert, Tobias - 2005
cycle model. In particular, we analyze the effect of a monetary policy shock and investigate how labor market frictions … persistent movements of aggregate inflation. Moreover, the impact of a monetary policy shock on unemployment and inflation …
Persistent link: https://www.econbiz.de/10010267287
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Macroeconomic policy and unemployment by economic activity: evidence from Turkey
Berument, Hakan; Dogan, Nukhet; Tansel, Aysit - 2008
that the positive income shock is followed by a decrease in unemployment in all economic activity groups during the initial … periods except the unemployment in the Electricity sector and the Community Services sector. A positive money shock decreases … positive interbank interest rate shock increases the unemployment in all economic activities at the initial levels but derives …
Persistent link: https://www.econbiz.de/10010268812
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Demography, capital flows and unemployment
Marchiori, Luca; Pierrard, Olivier; Sneessens, Henri R. - 2011
This paper contributes to the already vast literature on demography-induced international capital flows by examining the role of labor market imperfections and institutions. We setup a two-country overlapping generations model with search unemployment, which we calibrate on EU15 and US data....
Persistent link: https://www.econbiz.de/10010282316
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How disasters affect local labor markets: the effects of hurricanes in Florida
Belasen, Ariel R.; Polachek, Solomon W. - 2007
Exogenous shocks often impact a local labor market more than at the national level. This study improves upon the standard Difference in Difference (DD) approach by examining exogenous shocks using a Generalized Difference in Difference (GDD) econometric approach that identifies the effects of...
Persistent link: https://www.econbiz.de/10010268260
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Income volatility and health
Halliday, Timothy J. - 2007
We investigate the impact of exogenous income fluctuations on health using twenty years of data from the Panel Study of Income Dynamics using techniques from the literature on the estimation of dynamic panel data models. Contrary to much of the previous literature on health and socio-economic...
Persistent link: https://www.econbiz.de/10010268659