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den USA. Frühere Untersuchungen haben gezeigt, dass die extensive Margin dominiert und, dass, zweitens, in beiden Ländern … der extensiven und der intensiven Margin in den USA im zeitlichen Verlauf relativ stabil ist, variiert deren relative … den USA. Allerdings hängt ihre tatsächliche quantitative Bedeutung in erheblichem Umfang von der Wahl des …
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The cyclicality of real wages has important implications for the validity of competing business cycle theories. However, the empirical evidence on the aggregate level is inconclusive. Using a threshold vector autoregressive model for the US and Germany to condition the relationship between real...
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There has been much discussion of the differences in macroeconomic performance and prospects between the US, Japan and the euro area. Using Markov-switching techniques, in this paper we identify and compare specifically their major business-cycle features and examine the case for a common...
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