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Seniority wages and the role of firms in retirement
Frimmel, Wolfgang; Horvath, Gerard Thomas; … - 2015
expensive older workers into retirement. Based on the seniority wage model developed by Lazear (1979), we discuss steep … seniority wage profiles as incentives for firms to dismiss older workers before retirement. Conditional on individual retirement … incentives, e.g., social security wealth or health status, the steepness of the wage profile will have different incentives for …
Persistent link: https://www.econbiz.de/10011296975
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Seniority Wages and the Role of Firms in Retirement
Frimmel, Wolfgang - 2015
expensive older workers into retirement. Based on the seniority wage model developed by Lazear (1979), we discuss steep … seniority wage profiles as incentives for firms to dismiss older workers before retirement. Conditional on individual retirement … incentives, e.g., social security wealth or health status, the steepness of the wage profile will have different incentives for …
Persistent link: https://www.econbiz.de/10013016305
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Uncertainty, Skewness, and the Business Cycle Through the Midas Lens
Castelnuovo, Efrem; Mori, Lorenzo - 2022
We employ a mixed-frequency quantile regression approach to model the time-varying conditional distribution of the US real GDP growth rate. We show that monthly information on the US financial cycle improves the predictive power of an otherwise quarterly-only model. We combine selected quantiles...
Persistent link: https://www.econbiz.de/10014242149
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Uncertainty, skewness, and the business cycle through the midas lens
Castelnuovo, Efrem; Mori, Lorenzo - 2022
We employ a mixed-frequency quantile regression approach to model the time-varying conditional distribution of the US real GDP growth rate. We show that monthly information on the US financial cycle improves the predictive power of an otherwise quarterly-only model. We combine selected quantiles...
Persistent link: https://www.econbiz.de/10013440379
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Global economy and the euro area : protectionism weighing on trade and investment
Michelsen, Claus; Baldi, Guido; Dany-Knedlik, Geraldine; … - In: DIW weekly report : economy, politics, science : a … 9 (2019) 22/24, pp. 194-195
The global economy is holding steady amidst uncertainty, although subdued export and investment growth in some places is already proving the extent to which protectionism and the unresolved trade conflicts are negatively affecting the economy. Contributing to the uncertainty is the continued...
Persistent link: https://www.econbiz.de/10012016606
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Domestic and global uncertainty : a survey and some new results
Castelnuovo, Efrem - 2019
This survey features three parts. The first one covers the recent literature on domestic (i.e., country-specific) uncertainty and offers ten main takeaways. The second part reviews contributions on the fast-growing strand of the literature focusing on the macroeconomic effects of uncertainty...
Persistent link: https://www.econbiz.de/10012119543
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Yield curve and financial uncertainty : evidence based on US data
Castelnuovo, Efrem - 2019
How do short and long term interest rates respond to a jump in financial uncertainty? We address this question by conducting a local projections analysis with US monthly data, period: 1962-2018. The state-of-the-art financial uncertainty measure proposed by Ludvigson, Ma, and Ng (2019) is found...
Persistent link: https://www.econbiz.de/10012029082
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The global economy and the euro area : uncertainty weighing on world trade and industry
Michelsen, Claus; Baldi, Guido; Dany-Knedlik, Geraldine; … - In: DIW weekly report : economy, politics, science : a … 9 (2019) 37, pp. 328-329
The ongoing trade conflicts initiated by the US and the uncertainty surrounding Brexit are negatively affecting the global economy. Global trade and investment activity, and thus in many places industrial output, are the areas most impacted. Consumption, however, is continuing to support the...
Persistent link: https://www.econbiz.de/10012110800
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The world economy and the Euro Area : despite risks, global recovery is stabilizing
Fichtner, Ferdinand; Baldi, Guido; Dreger, Christian; … - In: DIW economic bulletin 7 (2017) 24, pp. 231-233
Global economic output is expected to grow by 3.7 percent this year, and with a slightly stronger dynamic in the coming year; both predictions match the figures proposed in DIW Berlin’s spring forecast, even though the year started off somewhat weaker than expected. But overall, economic...
Persistent link: https://www.econbiz.de/10011664727
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Coronavirus causing major economic shock to the global economy
Michelsen, Claus; Baldi, Guido; Dany-Knedlik, Geraldine; … - In: DIW weekly report : economy, politics, science : a … 10 (2020) 12, pp. 180-182
The ongoing corona pandemic is causing a major shock to the global economy. In the coming months, many countries are expected to suffer severe economic downturns. Sealing off entire regions disrupts supply chains, resulting in production losses and falls in consumption. The global economy is...
Persistent link: https://www.econbiz.de/10012198143