This paper documents the relationship between foreign ownership and firm survival for enterprises in Germany using unique tailor-made new representative data that merge information from surveys performed by the Statistical Offices, from administrative data collected by the Tax Authorities and...

Exploiting a unique dataset including cross-country comparable hiring and separation rates by type of transition for 24 OECD countries, 23 business-sector industries and 13 years, we study the effect of dismissal regulations on different types of gross worker flows, defined as one-year...

The demographic transition changes the age composition of a population, affecting resource allocations at the household and aggregate level. If age profiles of income, consumption, savings and investments were stable and estimable for the entire population, they might suggest how the demographic...

High rates of unemployment entail substantial costs to the working population in terms of reduced subjective well-being. This paper studies the importance of individual economic security, in particular, job security, in workers' well-being by exploiting sector-specific institutional differences...

We make use of the extant testing methodology of Barndorff-Nielsen and Shephard (2006) and Aït-Sahalia and Jacod (2009a,b,c) to examine the importance of jumps, and in particular large and small jumps, using high frequency price returns on 25 stocks in the DOW 30 and S&P futures index. In...

In economics, common factors are often assumed to underlie the co-movements of a set of macroeconomic variables. For this reason, many authors have used estimated factors in the construction of prediction models. In this paper, we begin by surveying the extant literature on diffusion indexes. We...

Diffusion index models have received considerable attention from both theoreticians and empirical econometricians in recent years. One reason for this is that datasets with many variables are increasingly becoming available and being utilized for economic modelling, and another is that common...

Central banks regularly monitor select financial and macroeconomic variables in order to obtain early indication of the impact of monetary policies. This practice is discussed on the Federal Reserve Bank of New York website, for example, where one particular set of macroeconomic indicators is...

Similar to most other developing countries, almost all Arab countries failed to catch up economically with advanced industrial countries. This paper discusses three possible explanations of the disappointing growth performance: (i) an insufficient reformmindedness of developing country...

This paper examines the long-run determinants of immigration to Germany using a modified version of the Ricardo model. After a brief overview of labour flows to Germany and the related empirical literature, a Ricardian model of migration is estimated using static panel data methods. The results...