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employment shock leads to a long-run level of employment 1.3% higher, with half of the extra jobs filled by migrants. A 1% region …-specific employment shock raises the long-run regional share of employment by 0.5 percentage points, due entirely to in-migration. House …% employment shock raising long run house prices by 6% , as may be expected with an upward sloping housing supply curve …
Persistent link: https://www.econbiz.de/10014224901
This paper documents the determinants of real oil price in the global market based on SVAR model embedding transitory and permanent shocks on oil demand and supply as well as speculative disturbances. We find evidence of significant differences in the propagation mechanisms of transitory versus...
Persistent link: https://www.econbiz.de/10012836533
There has been much discussion on climate change and its adverse effects on agriculture, including excessive loss of food production. In regions such as sub-Saharan Africa, where agriculture is the major source of household livelihoods, shocks in weather patterns affect farmers' expectations of...
Persistent link: https://www.econbiz.de/10013203077
Labor supply shocks can have substantial effects on the Beveridge Curve. Structural VARs with sign restrictions show that the shocks associated with the free movement of workers from Eastern Europe have temporarily increased unemployment in Austria, a major destination country, by 25 percent and...
Persistent link: https://www.econbiz.de/10012268246
Austria's Beveridge Curve has shifted markedly outwards since labor market access for Eastern European neighbors was liberalized in 2011. I quantify the effects of labor supply shocks by means of a structural VAR with sign restrictions, distinguish domestic-worker from foreign-worker shocks and...
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