Showing 101 - 110 of 137,401
The Bank of England, the Federal Reserve (Fed) and the European Central Bank (ECB) have responded to the crisis with exceptional initiatives resulting in a major increase in their balance sheets. After the ECB's end-2011 launch of three-year bank refinancing (LTRO), there has been speculation...
Persistent link: https://www.econbiz.de/10010293582
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
We compare three EU countries that have recently experienced substantial but very different reforms of their family support systems: Austria, Spain and the UK. The structure of these systems is different: Austria emphases universal benefits, Spain tax concessions and the UK means-tested...
Persistent link: https://www.econbiz.de/10010293713
Many macroeconometric models depict situations where the shares of the major demand aggregates in output are stable over time. The joint dynamic behavior of the considered demand aggregate and output may thus be approximated by a cointegrated vector autoregression. However, the shares of many...
Persistent link: https://www.econbiz.de/10010293724
This paper models the time-varying mean of the UK real and nominal short-term interest rate. Both rates mean revert to a time-varying central tendency in continuous-time interest rate models. Before and during British membership in the ERM, the mean of the real and nominal short rate have a...
Persistent link: https://www.econbiz.de/10010293725
Individuals experiencing poor health are less likely to vote at election time, despite being the ones most affected by health policies implemented by the successful party. This paper investigates the relationship between health and voter turnout and political party choice in the 1979, 1987 and...
Persistent link: https://www.econbiz.de/10010293758
Is the intergenerational educational link due to nature or nurture? In order to answer this dilemma, this paper identifies the effect of parental education on their offspring’s schooling attainment using a discontinuity in the parental educational attainment. The discontinuity stems from...
Persistent link: https://www.econbiz.de/10010293769
It is clear that education has an important effect on wages paid in the labour market However it not clear whether this is due to the role that education plays in raising the productivity of workers (the human capital explanation) or whether education simply reflects the ability of the worker...
Persistent link: https://www.econbiz.de/10010293827
The reservation wage is an integral part of most theories of involuntary unemployment. We use panel data to examine the empirical determinants of the reservation wage - in particular the inßuence of previous wages - and consider what this implies for the evolution of the natural rate of...
Persistent link: https://www.econbiz.de/10010293843
This paper uses cross section data to investigate whether education and ability are substitutes or complements in the determination of earnings. Using a measure of cognitive ability based on tests taken at ages 7 and 11 we find, unlike most of the existing literature, clear evidence that the...
Persistent link: https://www.econbiz.de/10010293869