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New technologies and jobs in Europe
Albanesi, Stefania; Silva, António Dias da; Jimeno, Juan F. - 2023
We examine the link between labour market developments and new technologies such as artificial intelligence (AI) and software in 16 European countries over the period 2011-2019. Using data for occupations at the 3-digit level in Europe, we find that on average employment shares have increased in...
Persistent link: https://www.econbiz.de/10014343139
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Economic policy uncertainty in the euro area : an unsupervised machine learning approach
Azqueta-Gavaldón, Andrés; Hirschbühl, Dominik; … - 2020
We model economic policy uncertainty (EPU) in the four largest euro area countries by applying machine learning techniques to news articles. The unsupervised machine learning algorithm used makes it possible to retrieve the individual components of overall EPU endogenously for a wide range of...
Persistent link: https://www.econbiz.de/10012139754
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New technologies and productivity growth in the euro area
Vijselaar, Focco; Albers, Ronald - 2002
Persistent link: https://www.econbiz.de/10001670883
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Medium run redux : technical change, factor shares and frictions in the euro area
McAdam, Peter (contributor); Willman, Alpo (contributor) - 2008
We develop a framework for analyzing "medium-runʺ departures from balanced growth, and apply it to the economies of continental Europe. A time-varying factor-augmenting production function (mimicking "directedʺ technical change) with a below-unitary substitution elasticity coupled with...
Persistent link: https://www.econbiz.de/10003782663
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US imbalances : the role of technology and policy
Bems, Rudolfs (contributor); Dedola, Luca (contributor);  … - 2007
This paper investigates the role of three likely factors in driving the steady deterioration of the US external balance: US technology developments, changes in the US government fiscal position and the Fed’s monetary policy. Estimating several Vector Autoregressions on US data over the period...
Persistent link: https://www.econbiz.de/10003410610
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International trade, technological shocks and spillovers in the labour market : a GVAR analysis of the US manufacturing sector
Hiebert, Paul (contributor);  … - 2007
We empirically analyse the response of US manufacturing labour market variables to various shocks, notably to trade openness and technology. The econometric approach involves an application of the recently developed global VAR (GVAR) methodology of Dées, DiMauro, Pesaran, and Smith (2005) to 12...
Persistent link: https://www.econbiz.de/10003422822
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In dubio pro CES : supply estimation with mis-specified technical change
León-Ledesma, Miguel A.; McAdam, Peter; Willman, Alpo - 2010
Capital-labor substitution and total factor productivity (TFP) estimates are essential features of growth and income distribution models. In the context of a Monte Carlo exercise embodying balanced and near balanced growth, we demonstrate that the estimation of the substitution elasticity can be...
Persistent link: https://www.econbiz.de/10003972670
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Time variation in U.S. wage dynamics
Hofmann, Boris; Peersman, Gert; Straub, Roland - 2010
This paper explores time variation in the dynamic effects of technology shocks on U.S. output, prices, interest rates as well as real and nominal wages. The results indicate considerable time variation in U.S. wage dynamics that can be linked to the monetary policy regime. Before and after the...
Persistent link: https://www.econbiz.de/10003993976
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What does a technology shock do? : a VAR analysis with model-based sign restrictions
Dedola, Luca (contributor); Neri, Stefano (contributor) - 2006
This paper estimates the effects of technology shocks in VAR models of the U.S., identified by imposing restrictions on the sign of impulse responses. These restrictions are consistent with the implications of a popular class of DSGE models, with both real and nominal frictions, and with...
Persistent link: https://www.econbiz.de/10003398001
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Using machine learning to measure financial risk in China
Al-Haschimi, Alexander; Apostolou, Apostolos; … - 2023
We develop a measure of overall financial risk in China by applying machine learning techniques to textual data. A pre … drivers. The resulting aggregated indicator can identify major episodes of overall heightened financial risks in China, which … the financial risk measure have a significant impact on macroeconomic and financial variables in China and abroad. …
Persistent link: https://www.econbiz.de/10013492909