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In this paper, we abandon the stylized median voter and study (i) how distributional tensions can act in many different ways depending on social affinity and on the prospect of upward or downwardmobility of the different income classes, (ii) income distribution dynamics, intergenerational...
Persistent link: https://www.econbiz.de/10009615432
Estimation …
Persistent link: https://www.econbiz.de/10009574875
To assess the predictive content of the interest rate term spread for future economic growth, we distinguish short-run from long-run predictability by using two different approaches. First, following Dufour and Renault (1998) a test procedure is proposed to test for causality at different...
Persistent link: https://www.econbiz.de/10009617950
regression model. Asymptotic distribution theory is developed for the estimation method which enjoys the same rate of convergence … as univariate function estimation. For the test statistic, asymptotic normal theory is established. These theoretical …We propose marginal integration estimation and testing methods for the coefficients of varying coefficient multivariate …
Persistent link: https://www.econbiz.de/10009627286
an improved bias corrected estimator. This bias corrected estimator involves consistent estimation of the density …
Persistent link: https://www.econbiz.de/10009574880
. We compare these results to results from a standard SVECM and find that, using the Subset VECM reduces estimation …
Persistent link: https://www.econbiz.de/10009613616
Persistent link: https://www.econbiz.de/10009611551
In this paper a two-sector growth model allowing indeterminacy to occur at relatively mild degrees of increasing returns is developed. It is shown that these economies of scale need only be present in one sector of the economy (investment). This feature of the model, therefore, builds on...
Persistent link: https://www.econbiz.de/10009659067
Persistent link: https://www.econbiz.de/10001916784
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