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Unions, wage setting and monetary policy uncertainty
Grüner, Hans Peter (contributor); Hayo, Bernd (contributor) - 2005
Recent theoretical research has studied extensively the link between wage setting and monetary policymaking in unionized economies. This paper addresses the question of the role of monetary uncertainty from both an empirical and theoretical point of view. Our analysis is based on a simple model...
Persistent link: https://www.econbiz.de/10003014303
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Estimating Policy‐Corrected Long‐Term and Short‐Term Tax Elasticities for the United States, Germany, and the United Kingdom
Hayo, Bernd; Mierzwa, Sascha; Ünal, Umut - 2021
measures for the United States, Germany, and the United Kingdom over the period 1980Q1 to 2018Q2. Employing Romer and Romer … extant literature. Furthermore, we estimate state-dependent elasticities. Our conclusions are as follows. (i) In Germany and …
Persistent link: https://www.econbiz.de/10013217162
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The Effect of Legislated Tax Changes on the Trade Balance : Empirical Evidence for the United States, Germany, and the United Kingdom
Hayo, Bernd; Mierzwa, Sascha - 2021
, we study whether legislative tax changes affect the trade balance in the United States, Germany, and the United Kingdom …) indirect tax changes in Germany and the UK, (v) spillovers of US tax changes into Germany and the UK, and (vi) asymmetric … in the US and Germany react quite similarly: imports tend to rise; exports do not change much. Consequently—and fostered …
Persistent link: https://www.econbiz.de/10013223234
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Estimating policy-corrected long-term and short-term tax elasticities for the United States, Germany, and the United Kingdom
Hayo, Bernd; Mierzwa, Sascha; Ünal, Umut - 2021 - This version: 23 March 2021
measures for the United States, Germany, and the United Kingdom over the period 1980Q1 to 2018Q2. Employing Romer and Romer … extant literature. Furthermore, we estimate state-dependent elasticities. Our conclusions are as follows. (i) In Germany and …
Persistent link: https://www.econbiz.de/10012543418
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Estimating policy-corrected long-term and short-term tax elasticities for the USA, Germany, and the United Kingdom
Hayo, Bernd; Mierzwa, Sascha; Ünal, Umut - In: Empirical economics : a quarterly journal of the … 64 (2023) 1, pp. 465-504
Persistent link: https://www.econbiz.de/10014226297
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The relevance of judicial procedure for economic growth
Hayo, Bernd; Voigt, Stefan - 2008
It has been argued that procedural formalism undermines economic efficiency by fostering rent-seeking and corruption. We challenge this view by arguing that a number of judicial procedures foster economic growth by increasing the predictability of court decisions, which leads to more...
Persistent link: https://www.econbiz.de/10003806039
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Communicating with many tongues : FOMC speeches and US financial market reaction
Hayo, Bernd; Kutan, Ali Mustafa; Neuenkirch, Matthias - 2008
This paper studies the effects of FOMC communication on U.S. financial markets’ returns and volatility using a GARCH model over the period from 1998 to 2006. We build a new data set that includes information on all FOMC speeches, post-meeting statements, monetary policy reports and...
Persistent link: https://www.econbiz.de/10003864447
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The relevance of judicial procedure for economic growth
Hayo, Bernd; Voigt, Stefan - 2008
It has been argued that procedural formalism undermines economic efficiency by fostering rent-seeking and corruption. We challenge this view by arguing that a number of judicial procedures foster economic growth by increasing the predict-ability of court decisions, which leads to more...
Persistent link: https://www.econbiz.de/10003866068
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Explaining de facto judicial independence
Hayo, Bernd (contributor); Voigt, Stefan (contributor) - 2005
Persistent link: https://www.econbiz.de/10003376685
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Endogenous constitutions : politics and politicians matter, economic outcomes don’t
Hayo, Bernd; Voigt, Stefan - 2010
We study changes in the form of government as an example of endogenously determined constitutions. For a sample of 202 countries over the period 1950-2006, we find that most changes are relatively small and roughly equally likely to be either in the direction of more parliamentarian or more...
Persistent link: https://www.econbiz.de/10008695545