Most economists maintain that the labor market in the United States (and elsewhere) is tight because unemployment rates … are low and the Beveridge Curve (the vacancies-to-unemployment ratio) is high. They infer from this that there is … stagnant for some time. We show that unemployment is not key to understanding wage formation in the USA and hasn t been since …

This article applies the novel concept of global panel cointegration to analyze the role played by trade and foreign … empirical model and allows us to strongly reject the null of no cointegration among the variables in the full spatial … specification. For the long-run cointegration equation, the empirical results hint at export- and FDI-led growth. Additionally …

gravity models for developed countries to include unemployment (chapter 2) and for Latin American and Caribbean developing … migration and trade and their effects on unemployment (chapter 5), and the dynamics of democracy and income chapter 6). … Firmen (Kapitel 1), der Erweiterung struktureller Gravitationsmodelle um Arbeitslosigkeit in entwickelten Ländern (Kapitel 2 …

, observational data computations, and Monte Carlo simulations to assess the use of various estimation methodologies, including … standard dynamic panel regression and cointegration techniques that have been used in earlier research. The findings reveal … massive bias in system GMM estimation of the dynamic panel regression parameters, which arise from fixed effect heterogeneity …