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Labor supply after transition : evidence from the Czech Republic

Bičáková, Alena (contributor); … - 2008

We extend the scarce evidence on labor supply in post-transition countries by estimating the wage elasticity of labor force participation in the Czech Republic. Using the household income survey data of 2002, we find that a one-percent rise in the gross wage increases the probability of working...

Persistent link: https://www.econbiz.de/10003778446

Do EU structural funds promote regional employment? : evidence from dynamic panel data

Mohl, Philipp; Hagen, Tobias - 2011

is directly aimed at reducing disparities in the employment sector. Against this background, the paper analyses the … impact of EU structural funds on employment drawing on a panel dataset of 130 European NUTS regions over the time period 1999 … funds ; dynamic panel models ; spatial panel econometrics ; regional employment effects …

Persistent link: https://www.econbiz.de/10009405602

Price stability and monetary policy effectiveness when nominal interest rates are bounded at zero

Coenen, Günter; Orphanides, Athanasios; Wieland, Volker - 2003

This paper employs stochastic simulations of a small structural rational expectations model to investigate the consequences of the zero bound on nominal interest rates. We ﬁnd that if the economy is subject to stochastic shocks similar in magnitude to those experienced in the U.S. over the...

Persistent link: https://www.econbiz.de/10009635983

International evidence on sticky consumption growth

Carroll, Chris (contributor); Slacalek, Jirka (contributor); … - 2008

We estimate the degree of "stickiness" in aggregate consumption growth (sometimes interpreted as reflecting consumption habits) for thirteen advanced economies. We find that, after controlling for measurement error, consumption growth has a high degree of autocorrelation, with a stickiness...

Persistent link: https://www.econbiz.de/10003778438

Real-time model uncertainty in the United States : the Fed from 1996-2003

Tetlow, Robert (contributor); Ironside, Brian (contributor) - 2006

We study 30 vintages of FRB/US, the principal macro model used by the Federal Reserve Board staff for forecasting and policy analysis. To do this, we exploit archives of the model code, coefficients, baseline databases and stochastic shock sets stored after each FOMC meeting from the model's...

Persistent link: https://www.econbiz.de/10003320640

Nowcasting GDP and inflation : the real-time informational content of macroeconomic data releases

Giannone, Domenico (contributor); … - 2006

larger than that of the Employment Report. When we control for timeliness of the releases, the effect of hard data becomes …

Persistent link: https://www.econbiz.de/10003337187

Monetary policy, housing booms and financial (im)balances

Eickmeier, Sandra; Hofmann, Boris - 2010

This paper uses a factor-augmented vector autoregressive model (FAVAR) estimated on U.S. data in order to analyze monetary transmission via private sector balance sheets, credit risk spreads and asset markets in an integrated setup and to explore the role of monetary policy in the three...

Persistent link: https://www.econbiz.de/10003972695

Joint estimation of the natural rate of interest, the natural rate of unemployment, expected inflation, and potential output

Benati, Luca (contributor); Vitale, Giovanni (contributor) - 2007

We jointly estimate the natural rate of interest, the natural rate of unemployment, expected inflation, and potential output for the Euro area, the United States, Sweden, Australia, and the United Kingdom. Particular attention is paid to time-variation in (i) the data-generation process for...

Persistent link: https://www.econbiz.de/10003516685

On-the-job search and the cyclical dynamics of the labor market

Krause, Michael (contributor); Lubik, Thomas A. (contributor) - 2007

We show how on-the-job search and the propagation of shocks to the economy are intricately linked. Rising search by employed workers in a boom amplifies the incentives of firms to post vacancies. In turn, more vacancies increases job search. By keeping job creation costs low for firms,...

Persistent link: https://www.econbiz.de/10003507060

New Keynesian versus old Keynesian government spending multipliers

Cogan, John F.; Cwik, Tobias; Taylor, John B. - 2009

estimated stimulus is extremely small with GDP and employment effects only onesixth as large. -- Fiscal multiplier ; New …

Persistent link: https://www.econbiz.de/10003963764