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Labor productivity slowdown in the developed economies : another productivity puzzle?
Erber, Georg; Fritsche, Ulrich; Harms, Patrick - 2016
The paper addresses the topic of an overall long-term productivity slowdown in labor productivity for a panel of 25 …-term productivity trends using state-space approaches, we extract a common factor from these long-term trend series using factor … analysis. The country specific differences are only of second order importance. Dominant is an overall long-term productivity …
Persistent link: https://www.econbiz.de/10011532779
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Global factors, unemployment adjustment and the natural rate
Smith, Ron (contributor); Gylfi Zoega (contributor) - 2008
OECD unemployment rates show long swings which dominate shorter business cycle components and these long swings show a range of common patterns. Using a panel of 21 OECD countries 1960-2002, we estimate the common factor that drives unemployment by the first principal component. This factor has...
Persistent link: https://www.econbiz.de/10003729654
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Global factors, unemployment adjustment and the natural rate
Smith, Ron (contributor); Gylfi Zoega (contributor) - 2007
OECD unemployment rates show long swings which dominate shorter business cycle components and these long swings show a range of common patterns. Using a panel of 21 OECD countries 1960-2002, we estimate the common factor that drives unemployment by the first principal component. This factor has...
Persistent link: https://www.econbiz.de/10003486579
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Global factors, unemployment adjustment and the natural rate
Smith, Ron (contributor); Gylfi Zoega (contributor) - 2007
OECD unemployment rates show long swings which dominate shorter business cycle components and these long swings show a range of common patterns. Using a panel of 21 OECD countries 1960-2002, we estimate the common factor that drives unemployment by the first principal component. This factor has...
Persistent link: https://www.econbiz.de/10003631641
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A dynamic factor model approach to estimating the natural rate of unemployment and the Phillips curve
Salemi, Michael K. - 1992
Persistent link: https://www.econbiz.de/10000914337
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A factor analysis for the Spanish economy
Cuevas, Ángel; Quilis, Enrique M. - In: SERIEs : Journal of the Spanish Economic Association 3 (2012) 3, pp. 311-338
We present a medium-scale dynamic factor model to estimate and forecast the rate of growth of the Spanish economy in the very short term. The intermediate size of the model overcomes the serious specification problems associated with large scale-models and the implicit loss of information of...
Persistent link: https://www.econbiz.de/10009618787
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The global dimension of inflation : evidence from factor-augmented Phillips curves
Eickmeier, Sandra; Moll, Katharina - 2009
We examine the global dimension of inflation i n 24 OECD countries between 1980 and 2007 in a traditional Phillips curve framework. We decompose output gaps and changes in unit labor costs into common (or global) and idiosyncratic components using a factor analysis and introduce these components...
Persistent link: https://www.econbiz.de/10003831786
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The global dimension of inflation : evidence from factor-augmented Phillips curves
Eickmeier, Sandra (contributor); Moll, Katharina (contributor) - 2008
We examine the global dimension of inflation in 24 OECD countries between 1980 and 2007in a traditional Phillips curve framework. We decompose output gaps and changes in unitlabor costs into common (or global) and idiosyncratic components using a factor analysis andintroduce these components...
Persistent link: https://www.econbiz.de/10003794365
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Factor Analysis Using Subspace Factor Models : Some Theoretical Results and an Application to UK Inflation Forecasting
Kapetanios, George - 2003
Recent work in the macroeconometric literature considers the problem of summarising efficiently a large set of variables and using this summary for a variety of purposes including forecasting. Work in this field has been carried out in a series of recent papers. This paper provides an...
Persistent link: https://www.econbiz.de/10014099165
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A time-varying Phillips curve with global factors : are global factors important?
Kabundi, Alain; Poon, Aubrey; Wu, Ping - In: Economic modelling 126 (2023), pp. 1-8
Persistent link: https://www.econbiz.de/10014462575