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National minimum wage and employment of young workers in the UK
Fidrmuc, Jan; Tena, J. D. - 2013
, 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
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Toward a theory of evaluating predictive accuracy
Kunst, Robert M.; Jumah, Adusei - 2004
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
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Uncover Latent PPP by Dynamic Factor Error Correction Model (DF-ECM) Approach: Evidence from Five OECD Countries
Qin, Duo - In: Economics: The Open-Access, Open-Assessment E-Journal 2 (2008) 2008-7, pp. 1-26
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
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Modeling Asset Returns: A Comparison of Theoretical and Empirical Models
Schröder, Michael; Lüders, Erik - 2004
This paper presents and compares several time-series models for returns of broadbased stock indices. These models nest a nonlinear asymmetric GARCH (NGARCH) model as a special case. Some of these models are empirically motivated ad-hoc specifications others are derived from a representative...
Persistent link: https://www.econbiz.de/10010298005
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Understanding the competitiveness implications of future phases of EU ETS on the industrial sectors
Oberndorfer, Ulrich; Alexeeva-Talebi, Victoria; … - 2010
In making key decisions for the future phases of the European Union Emissions Trading Scheme (EU ETS), policy makers need to fully understand the competitiveness implications of these decisions on industrial sectors. In this paper, we conduct an empirical analysis of cost pass-through ability of...
Persistent link: https://www.econbiz.de/10010300741
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Distinguishing between long-range dependence and deterministic trends
Sibbertsen, Philipp; Venetis, Ioannis - 2003
We provide a method for distinguishing long-range dependence from deterministic trends such as structural breaks. The method is based on the comparison of standard log-periodogram regression estimation of the memory parameter with its tapered counterpart. The difference of these estimators...
Persistent link: https://www.econbiz.de/10010306228
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Modelling Ireland’s exchange rates: from EMS to EMU
Bond, Derek; Harrison, Michael J.; O'Brien, Edward J. - 2007
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/10011604869
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A Markov switching model of the merit order to compare British and German price formation
Zachmann, Georg - 2007
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
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Rational bubbles and fractional integration
Kruse, Robinson - 2008
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
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On the role of sectoral and national components in the wage bargaining process
Dreger, Christian; Reimers, Hans-Eggert - 2010
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