R&D components are investigated in dynamic factor demand models using pooled Japanese data. Models without R&D, with R&D (double or) wrongly counted and (once or) correctly counted are compared by means of GMM estimates, (non-)nested GMM tests and residual analyses. The results indicate that R&D...

Demographic change exerts pressure on labour markets and public finances across the globe. Most studies on ageing focus on the projected development of the old age dependency ratio, the ratio of persons 65 or older relative to the working age population. This ratio gives a very incomplete...

Wage coordination between countries of the European Monetary Union (EMU) aims at aligning nominal wage growth with labour productivity growth at the national level. We analyse the developments in Germany, the EMU's periphery countries Greece, Ireland, Portugal and Spain along with the United...

Due to its pyramid population structure, Egypt needs to create jobs at a high pace to absorb the many new entrants at its labour market. This article structurally models and quantifies the impact of these demographic shocks and the shedding of public sector jobs on unemployment. The findings...

In literature two types of models exist that aim at describing the production decision(s) of entrepreneurs, taking account of production costs and costs incurred by the existence of inventory stocks of final goods. One type is called the production smoothing models and the other type the factor...

This paper investigates the fiscal pressure, or the level of public expenditure on old and young economically inactive people, arising from demographic change in relation to the labour market space, or the proportion of the working age population not in full-time employment. The exercise is...