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Hours worked is a time series of interest in many empirical investigations of the macroeconomy. Estimates of macro elasticities of labour supply, for example, build on this variable. Other empirical applications investigate the response of hours worked to a shock to technology on the basis of...
Persistent link: https://www.econbiz.de/10003314703
This paper is devoted to a new estimation of the non-accelerating inflation rate of unemployment (NAIRU) for the West … German Economy 1980 to 1998. The novelty of the paper is the estimation of a time-varying NAIRU for West Germany employing …
Persistent link: https://www.econbiz.de/10011444884
at high-frequency controlling for intraday periodicity, volatility clustering and volatility persistence. We find that …
Persistent link: https://www.econbiz.de/10003977656
A new algorithm for clustering life course trajectories is presented and tested with large register data. Life courses are represented as sequences on a monthly timescale for the working-life with an age span from 16–65. A meaningful clustering result for this kind of data provides interesting...
Persistent link: https://www.econbiz.de/10008901833
We present a new method for imposing and testing concavity of a cost function using asymptotic least squares, which can easily be implemented even for cost functions which are nonlinear in parameters. We provide an illustration on the basis of a (generalized) Box-Cox cost function with six...
Persistent link: https://www.econbiz.de/10011445626
inflation in formal education degrees could be found. -- Measurement error ; EM by the method of weights ; wage regression …
Persistent link: https://www.econbiz.de/10008901839
The paper analyses the potential impact of stock market developments on lending behaviour from different perspectives. First we scrutinize the impact of stock market movements on the banks’ and on the borrowers’ balance sheets. Subsequently we estimate aggregate credit supply and demand...
Persistent link: https://www.econbiz.de/10003342766
In many econometric applications it is unclear from the very beginning whether a parametric functional of a continuous regressor should be specified as a linear, as a higher order polynomial or as a piecewise linear. Nonparametric estimators can provide relevant information as they are a...
Persistent link: https://www.econbiz.de/10003527620
The present paper examines the wage effects of continuous training programs using individual-level data from the German Socio Economic Panel (GSOEP). In order to account for selectivity in training participation we estimate average treatment effects (ATE and ATT) of general and firm-specific...
Persistent link: https://www.econbiz.de/10003517208
This study analyses the persistence and true state dependence of overqualification, i.e. a mismatch between workers … persistence can be attributed to a true state dependence effect. Unobserved factors are found to be the main driver of the high … persistence of overqualification. In particular, selection into initial overqualification at the start of the career is of high …
Persistent link: https://www.econbiz.de/10011636067