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We estimate the probability of public sector wage leadership -- defined as Granger causality from public to private sector wages -- in a pool of 15 Organization for Economic Cooperation and Development (OECD) countries as a function of countries' institutional features, and notably wage-setting...
Persistent link: https://www.econbiz.de/10010976510
The ongoing fiscal and financial crisis with significant macroeconomic imbalances in the euro area raises the question in how far public–private wage interaction and even wage spirals contribute to fiscal and competitiveness problems. In this vain we analyse empirically whether the evolution...
Persistent link: https://www.econbiz.de/10011051520
We present evidence pointing to the fact that international agencies' fiscal forecasts were affected to some extent by the same type of problems that the literature widely acknowledges for governmental ones. Informational shortages may lead independent agencies' staff to internalize “political...
Persistent link: https://www.econbiz.de/10011056312
The absence of historical quarterly fiscal data has limited the analysis of the macroeconomic impact of fiscal policies in the euro area, including the interactions of fiscal and monetary policies. To overcome this gap, we construct a quite disaggregated euro area quarterly fiscal database for...
Persistent link: https://www.econbiz.de/10010939736
Short-term fiscal indicators based on public accounts data are often used by European policy makers. These indicators represent one of the main sources of publicly available intra-annual fiscal information. Nevertheless, they are not formally included in the European multilateral fiscal...
Persistent link: https://www.econbiz.de/10008522612
In this paper we analyze the convergence properties of some standard approaches to initialize the Parameterized Expectations Algorithm. We carry out a Monte Carlo experiment to compare their performance in computational terms. We do so within the framework of the standard neoclassical growth...
Persistent link: https://www.econbiz.de/10005297086
In the matter of port legislation, the nineties was a period of maximum interest in Spain. Two laws enacted in 1992 and 1997, respectively, aimed at increasing the autonomy of individual ports in the management and organization of its activities. Before 1992 two different models of management...
Persistent link: https://www.econbiz.de/10005270988
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