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In recent research age distribution effects on the current account have been found in cross-country panel regressions. The reason is different effects on saving and investment from cohort-size variation. In a panel of annual OECD data 1960-1995, we find that the age effects on saving are similar...
Persistent link: https://www.econbiz.de/10010321710
This paper describes the tax systems of OECD advanced economies and assesses the entity's recommendations on tax policy, applying them to the debate around tax reform in Brazil. It is not meant as a guide for OECD taxation to be copied by Brazil, but rather to provide tools to better foster the...
Persistent link: https://www.econbiz.de/10014560187
In a classic article, Granger (1966) asserted that most economic time series measured in level have spectra that exhibit a smooth declining shape with considerable power at very low frequencies. There has been no systematic attempt to examine Granger,s assertion with international data. We...
Persistent link: https://www.econbiz.de/10013204729
percent in the late 1990s, but the number of industries affected by DNWR has increased. DNWR is more prevalent when inflation …
Persistent link: https://www.econbiz.de/10012143619
This paper explores the existence of downward real wage rigidity (DRWR) in 19 OECD countries, over the period 1973-1999, using data for hourly nominal earnings at industry level. Based on a nonparametric statistical method, which allows for country and year specific variation in both the median...
Persistent link: https://www.econbiz.de/10012143666
legislation, high union density, centralised wage setting and high inflation. …
Persistent link: https://www.econbiz.de/10012143707
Despite the rapid rise in cross-border mergers and acquisitions in the past twenty years, there has been little attention paid to what determines their patterns and, in particular, what influences their behaviour over time. Employing a panel database this paper models the behaviour of foreign...
Persistent link: https://www.econbiz.de/10005870087
The paper attempts to measure the incidence of corporate income tax in India under a general equilibrium setting. Using seemingly uncorrelated regression coefficients and dynamic panel estimates, we tried to analyze both the relative burden of corporate tax borne by capital and labor and the...
Persistent link: https://www.econbiz.de/10011784688
Correlations of inflation with the growth rate of money increase when data are averaged over longer time periods …. Correlations of inflation with the growth of money also are higher when high-inflation as well as low-inflation countries are … included in the analysis. We show that serial correlation in the underlying inflation rate ties these two observations together …
Persistent link: https://www.econbiz.de/10010292328
financed by money creation and to destabilizing expectations dynamics that can occasionally divorce inflation from fundamentals …. Our maximum likelihood estimates allow us to interpret observed inflation rates in terms of variations in the deficits … that cut inflation without reforming deficits. Our estimates also allow us to infer the deficit adjustments that seem to …
Persistent link: https://www.econbiz.de/10010292362