Real exchange rate (RER) is an important instrument for restoring sustainable economic growth in the small open economy with large export share. RER of Ukrainian currency can be explained within the real business cycle (RBC) framework without any forms of nominal rigidities. Fitting Ukrainian...

In this paper we analyze the persistence of aggregate real exchange rates (RERs) for a group of EU-15 countries by using sectoral data. The tight relation between aggregate and sectoral persistence recently investigated by Mayoral (2008) allows us to decompose aggregate RER persistence into the...

This study analyzes long-run and short-run dynamics between the current account and the real effective dollar exchange rates from a novel perspective. Applying multivariate cointegration techniques, we first test for a long-run relationship between the real effective dollar exchange rate and the...

We estimate changes in the productivity of schooling for six East Asian countries. Our productivity measure is based on changes in the relative price of schooling. A rising price of schooling relative to other labor-intensive service sectors should indicate declining relative schooling...

"This paper illustrates the effects of item-nonresponse in surveys on the results of multivariate statistical analysis when estimation of productivity is the task. To multiply impute the missing data a data augmentation algorithm based on a normal/Wishart model is applied. Data of the German IAB...

"In many large data sets of economic interest, some variables, as wages, are top-coded or right-censored. In order to analyze wages with the German IAB employment sample we first have to solve the problem of censored wages at the upper limit of the social security system. We treat this problem...

"In this paper, we remove one serious drawback of the IAB employment sample impeding its applicability to the estimation of earnings frontiers: the censoring of the income data, by multiple imputation. Then, we estimate individual potential income with stochastic earnings frontiers, and we...

"In this paper, stochastic production frontier models are estimated with IAB establishment data from waves 2002 and 2003 to find important determinants of productivity and ineffciency. The data suffer from nonresponse in the most important variables (output, capital and labor) leading to the...

"In this paper, stochastic production frontier models are estimated with IAB establishment data from waves 2002 and 2003 to find important determinants of productivity and ineffciency. The data suffer from nonresponse in the most important variables (output, capital and labor) leading to the...

"In many large data sets of economic interest, some variables, as wages, are top-coded or right-censored. In order to analyze wages with the German IAB employment sample we first have to solve the problem of censored wages at the upper limit of the social security system. We treat this problem...