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provide detailed estimates of the returns to education. Our results can be summarized as follows. Firstly, average returns to … education have been mostly stable during the second half of the 1990s and are highest in Portugal and Ireland and lowest in the … implying lower returns to education for younger cohorts. Fourthly, in most countries schooling exerts a significantly stronger …
Persistent link: https://www.econbiz.de/10003745081
measured in terms of education, is often regarded as a waste of human capital. Such discussions, however, ignore the imperfect …
Persistent link: https://www.econbiz.de/10011632140
non-IV estimation (the system extension to the Fixed Effects Vector Decomposition model recently proposed by Plümper …
Persistent link: https://www.econbiz.de/10003811780
We analyze the importance of global shocks for the global economy and national policy makers. More specifically, we investigate whether monetary policy has become less effective in the wake of financial globalization. We also examine whether there is increasing uncertainty for central banks due...
Persistent link: https://www.econbiz.de/10003884937
Persistent link: https://www.econbiz.de/10003471692
We assess differences that emerge in Taylor rule estimations for the Fed and the ECB before and after the start of the subprime crisis. For this purpose, we apply an explicit estimate of the equilibrium real interest rate and of potential output in order to account for variations within these...
Persistent link: https://www.econbiz.de/10003931391
Persistent link: https://www.econbiz.de/10003525329
partial effects. Our estimation results indicate that using real time instead of ex post data leads to higher estimated …
Persistent link: https://www.econbiz.de/10003877669
(the DM). We use monthly data from 1975:01 to 2007:12. Applying a novel time-varying coefficient estimation approach, we …
Persistent link: https://www.econbiz.de/10003877676
In this paper we present an empirically stable euro area money demand model. Using a sample period until 2009:2 shows that the current financial and economic crisis that started in 2007 does not appear to have any noticeable impact on the stability of the euro area money demand function. We also...
Persistent link: https://www.econbiz.de/10003941679