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We propose methods for testing hypothesis of non-causality at various horizons, as defined in Dufour and Renault (1998, Econometrica). We study in detail the case of VAR models and we propose linear methods based on running vector autoregressions at different horizons. While the hypotheses...
Persistent link: https://www.econbiz.de/10005100843
Tax cuts create simultaneously a lack of tax receipts and more savings ready to be changed into public bonds and compensate this shortage of tax revenue. A part of tax resources is replaced by borrowing and those who are enjoying tax cuts are also receiving interest from government. The...
Persistent link: https://www.econbiz.de/10008727369
Dans les débats sur la zone Euro et son élargissement, l’accent est souvent mis sur le problème de l’hétérogénéité entre les pays. Mais les difcultés à se coordonner ne provi- ennent pas nécessairement de la disparité entre les pays, tout au moins si le nombre de pays est...
Persistent link: https://www.econbiz.de/10008551717
Persistent link: https://www.econbiz.de/10009275665
This eighth issue of the International Productivity Monitor produced by the Centre for the Study of Living Standards contains eight articles. Topics covered are: a progress report on endogenous growth theory; recent productivity developments in Canada and the United States; monetary policy in...
Persistent link: https://www.econbiz.de/10005481849
Given a monetary Union which is heterogeneous at the level of labour market flexibility, this paper investigates the effects in terms of macroeconomic stabilization of the different degrees of fiscal coordination between governments. We use a static Keynesian model within a closed monetary Union...
Persistent link: https://www.econbiz.de/10008554189
Persistent link: https://www.econbiz.de/10012169813
Dirk Pilat and Paul Schreyer of the OECD discuss the new OECD Productivity Database. The database covers 26 OECD countries for labour productivity estimates, as well as 14 countries for multifactor productivity estimates. While the database represents the most comparable productivity estimates...
Persistent link: https://www.econbiz.de/10005292742
detailed industry level. The International Comparisons of Output and Productivity (ICOP) project established at the University … industry-specific purchasing power parities based on producer output data instead of final expenditure information. A key … finding that emerges from their research is the difference between labour productivity levels measured in terms of output per …
Persistent link: https://www.econbiz.de/10005481863
This the inaugural issue of the International Productivity Monitor, a new publication produced by the Ottawa-based Centre for the Study of Living Standards (CSLS). The objective of the Monitor is to focus atttention on the importance of productivity for improving living standards and quality of...
Persistent link: https://www.econbiz.de/10005650237