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, we find a significant and negative employment effect for male workers at 21, which we believe to be an anticipation … effect on employment of young workers, with this effect possibly occurring already well in advance of reaching the threshold …We analyze the impact of the UK national minimum wage (NMW) on the employment of young workers. The previous literature …
Persistent link: https://www.econbiz.de/10009764461
Persistent link: https://www.econbiz.de/10015372190
electricity prices and fuel costs in Germany. This may be evidence that the German electricity generation sector does not work …
Persistent link: https://www.econbiz.de/10010264963
In this article we provide evidence for a rational bubble in S\&P 500 stock prices by applying a test for changing … persistence under fractional integration proposed by Sibbertsen and Kruse (2007). We find strong evidence for stationary long …
Persistent link: https://www.econbiz.de/10010265683
This paper provides an empirical analysis on the determination of wages at the sectoral level in main industrial economies. Nominal wages are bargained between labour unions and employers in imperfect competitive markets, where spillovers across sectors might occur. Using a principal component...
Persistent link: https://www.econbiz.de/10010269817
In this paper we specify a multi-factor long-memory process that enables us to estimate the fractional differencing parameters at each frequency separately, and adopt this framework to model quarterly prices in three European countries (France, Italy and the UK). The empirical results suggest...
Persistent link: https://www.econbiz.de/10010271118
In this paper we specify a multi-factor long-memory process that enables us to estimate the fractional differencing parameters at each frequency separately, and adopt this framework to model quarterly prices in three European countries (France, Italy and the UK). The empirical results suggest...
Persistent link: https://www.econbiz.de/10010271959
This paper attempts to model the nominal and real exchange rate for Ireland, relative to Germany and the UK from 1975 to 2003. It offers an overview of the theory of purchasing power parity (Ppp), focusing particularly on likely sources of nonlinearity. Potential difficulties in placing the...
Persistent link: https://www.econbiz.de/10010272367
We suggest a theoretical basis for the comparative evaluation of forecasts. Instead of the general assumption that the data is generated from a stochastic model, we classify three stages of prediction experiments: pure non-stochastic prediction of given data, stochastic prediction of given data,...
Persistent link: https://www.econbiz.de/10010293709
This study explores a new modelling approach that bridges the gap between multilateral country-level data and the bilateral-model based, goods-market specific purchasing power parity (PPP) hypothesis. Under this approach, PPP is embedded in latent common factors, extractable from a large set of...
Persistent link: https://www.econbiz.de/10010295305