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Job Insecurity, Reallocation and Technological Innovation in a Self-Fulfilling Prophecy

Vermeylen, Koen - In: Topics in Macroeconomics 5 (2005) 1

Abstract If workers anticipate a technological innovation, some workers may decide to quit their job and retrain themselves to acquire the skills which are needed by this new technology. However, this may facilitate the innovation and make it a self-fulfilling prophecy. This self-fulfilling...

Persistent link: https://www.econbiz.de/10014588376

Structural Change and Cross-Country Growth Empirics

Eberhardt, Markus; Teal, Francis - In: The World Bank Economic Review 27 (2013) 2, pp. 229-271

One of the most striking features of economic growth is the process of structural change whereby the share of agriculture in GDP decreases as countries develop. The cross-country growth literature typically estimates an aggregate homogeneous production function or convergence regression model...

Persistent link: https://www.econbiz.de/10015360672

Comprehensive Wealth and Future Consumption : Accounting for Population Growth

Ferreira, Susana; Hamilton, Kirk; Vincent, Jeffrey R. - In: The World Bank Economic Review 22 (2008) 2, pp. 233-248

Economic theory predicts that the current change in national wealth, broadly defined to include natural and human … capital as well as produced capital ("genuine savings"), determines whether the present value of future changes in consumption … effects of three adjustments for population growth, including one that controls for omitted wealth. Although the adjustments …

Persistent link: https://www.econbiz.de/10015360574

Business Cycle Synchronization and Regional Integration : A Case Study for Central America

Fiess, Norbert - In: The World Bank Economic Review 21 (2007) 1, pp. 49-71

Deeper trade integration between Central America and the United States, as envisaged under the Central American Free Trade Agreement, is likely to lead to closer links between Central American and U.S. business cycles. This article assesses the degree of business cycle synchronization between...

Persistent link: https://www.econbiz.de/10015360542

Zur Rolle der Geldpolitik im Konjunkturzyklus / On the Role of Monetary Policy in the Business Cycle : Eine empirische Analyse im Hinblick auf die Europäische Währungsunion / An Empirical Analysis Before the Outset of the European Monetary Union

Holstein, Michael - In: Jahrbücher für Nationalökonomie und Statistik 218 (1999) 3-4, pp. 346-360

Zusammenfassung Mit dem Beitritt zur Europäischen Währungsunion geben die Mitgliedsländer (und ihre Zentralbanken) die Souveränität in geldpolitischen Fragen an die Europäische Zentralbank ab. Die Geldpolitik scheidet somit als Instrument der nationalen Wirtschaftspolitik aus. Wenn ihr...

Persistent link: https://www.econbiz.de/10014608685

Leading Indicators of German Business Cycles. An Assessment of Properties / Frühindikatoren der deutschen Konjunktur. Eine Beurteilung ihrer Eigenschaften

Fritsche, Ulrich; Stephan, Sabine - In: Jahrbücher für Nationalökonomie und Statistik 222 (2002) 3, pp. 289-315

Summary A reliable leading indicator should possess the following properties: (1) The movements in the indicator series should resemble those in the business cycle reference series. (2) The relation between the reference series and the indicator should be statistically significant and stable...

Persistent link: https://www.econbiz.de/10014608883

On Adam Smith and Confucius: The Theory of Moral Sentiments and the Analects

Wong, Benjamin - In: International Journal of Social Economics 28 (2001) 4, pp. 380-391

Persistent link: https://www.econbiz.de/10014806933

Excess volatility? the Australian stock market from 1883 to 1999

Heaney, Richard - In: Managerial Finance 29 (2003) 10, pp. 76-94

Are share markets too volatile? While it is difficult to ignore share market volatility it is important to determine … whether volatility is excessive. This paper replicates the Shiller (1981) test as well as applying standard time series … excess volatility, time series analysis identifies a long‐run relationship between share market value and dividends …

Persistent link: https://www.econbiz.de/10014939689

Income Taxation, Productive Government Expenditure and Stochastic Growth: On Conditions for an Optimal Policy and the Role of the Risk Premium

Clemens, Christiane - In: Topics in Macroeconomics 5 (2005) 1

Abstract This paper employs a stochastic endogenous growth model with productive government expenditure to analyze the macroeconomic effects of income taxation. We demonstrate that in the presence of capital and income risk the impact of taxation on consumption choice as well as on economic...

Persistent link: https://www.econbiz.de/10014588349

Precautionary Saving and Income Uncertainty in Germany – New Evidence from Microdata

Bartzsch, Nikolaus - In: Jahrbücher für Nationalökonomie und Statistik 228 (2008) 1, pp. 5-24

precautionary saving under income uncertainty. In a cross-section of households, wealth in 2002 is regressed on alternative measures … financial wealth, precautionary saving is statistically significant and economically quite important. Precautionary net … financial wealth is estimated to make up, on average, around 20% of total aggregate net financial wealth. Unlike net financial …

Persistent link: https://www.econbiz.de/10014609180