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Implications of macroeconomic volatility in the Euro area
Hauzenberger, Niko; Böck, Maximilian; Pfarrhofer, Michael - 2018
assess the effects of an uncertainty shock in the Euro area. This allows us to treat macroeconomic uncertainty as a latent … quantity during estimation. Only a limited number of contributions to the literature estimate uncertainty and its macroeconomic … consequences jointly, and most are based on single country models. We analyze the special case of a shock restricted to the Euro …
Persistent link: https://www.econbiz.de/10011978764
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Semi-structural VAR and unobserved components models to estimate finance-neutral output gap
Kátay, Gábor; Kerdelhué, Lisa; Lequien, Matthieu - 2020
The paper assesses the impact of adding information on financial cycles on the output gap estimates for eight advanced economies using two unobserved components models: a reduced form extended Hodrick-Prescott filter, and a standard semi-structural unobserved components model. To complement...
Persistent link: https://www.econbiz.de/10012320331
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The levels and cyclical behaviour of mark-ups across countries and market structures
Oliveira-Martins, Joaquim - 1999
Persistent link: https://www.econbiz.de/10013427103
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Financial frictions and the real economy
Pietrunti, Mario - 2017
This paper investigates in a non-linear setting the impact on the real economy of frictions stemming from the financial sector. We develop a medium scale DSGE model with a banking sector where an occasionally binding constraint on banks' capital induces a relevant non-linearity. The model -...
Persistent link: https://www.econbiz.de/10011976236
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Corporate R&D and firm efficiency : evidence from Europe's top R&D investors
Kumbhakar, Subal; Ortega-Argilés, Raquel; Potters, Lesley - 2010
The main objective of this study is to investigate the impact of corporate R&D activities on firm performance, measured by labour productivity. To this end, the stochastic frontier technique is used on a unique unbalanced longitudinal dataset on top European R&D investors over the period...
Persistent link: https://www.econbiz.de/10011981958
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The positive effect of public investment on potential growth
Fournier, Jean-Marc - 2016
An estimated baseline convergence model capturing the long-term effect of human capital and physical investment on potential output for a panel of OECD countries is augmented with public investment and its components. The estimations suggest that public investment has a positive effect on...
Persistent link: https://www.econbiz.de/10011578195
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Workforce composition, productivity and pay : the role of firms in wage inequality
Criscuolo, Chiara; Hijzen, Alexander; Schwellnus, Cyrille; … - 2020
In many OECD countries, low productivity growth has coincided with rising inequality. Widening wage and productivity gaps between firms may have contributed to both developments. This paper uses a new harmonised cross-country linked employer-employee dataset for 14 OECD countries to analyse the...
Persistent link: https://www.econbiz.de/10012203325
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Workforce composition, productivity and pay : the role of firms in wage inequality
Criscuolo, Chiara; Hijzen, Alexander; Schwellnus, Cyrille; … - 2020
In many OECD countries, low productivity growth has coincided with rising inequality. Widening wage and productivity gaps between firms may have contributed to both developments. This paper uses a new harmonised cross-country linked employer-employee dataset for 14 OECD countries to analyse the...
Persistent link: https://www.econbiz.de/10012312260