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Structural Changes in the US Economy: Bad Luck or Bad Policy?

Canova, Fabio; Gambetti, Luca - C.E.P.R. Discussion Papers - 2006

This paper investigates the relationship between time variations in output and inflation dynamics and monetary policy in the US. There are changes in the structural coefficients and in the variance of the structural shocks. The policy rules in the 1970s and 1990s are similar as is the...

Persistent link: https://www.econbiz.de/10005791999

Nonparametric Predictive Regression

Andreou, Elena; Kasparis, Ioannis; Phillips, Peter C. B. - C.E.P.R. Discussion Papers - 2013

A unifying framework for inference is developed in predictive regressions where the predictor has unknown integration properties and may be stationary or nonstationary. Two easily implemented nonparametric F-tests are proposed. The test statistics are related to those of Kasparis and Phillips...

Persistent link: https://www.econbiz.de/10011084643

Immigration and Heterogeneous Labour in Western Germany: A Labour Market Classification Based on Nonparametric Estimation

Fröhlich, Markus; Puhani, Patrick A - C.E.P.R. Discussion Papers - 2002

This Paper presents a methodology to identify net demand shocks as well as wage rigidities in heterogeneous labour markets on the basis of nonparametric regression. We show how this approach can be used to make suggestions for immigration policy in economies with labour market rigidities. In an...

Persistent link: https://www.econbiz.de/10005666760

Productivity Growth, Human Capital, and Technology Spillovers: Nonparametric Evidence for EU Regions

Badinger, Harald; Egger, Peter; von Ehrlich, Maximilian - C.E.P.R. Discussion Papers - 2013

This paper assesses the strength of productivity spillovers non-parametrically in a data-set of 12 industries and 231 NUTS2 regions in 17 European Union member countries between 1992 and 2006. It devotes particular attention to measuring catching up through spillovers depending on the technology...

Persistent link: https://www.econbiz.de/10011083265

Endogeneity of Currency Areas and Trade Blocs: Evidence from the Inter-war Period

Ritschl, Albrecht; Wolf, Nikolaus - C.E.P.R. Discussion Papers - 2003

members was already high. In OLS estimation, this would cause endogeneity bias. The present Paper employs both fixed …-effects and binary choice methods to trace endogeneity in the formation of historical currency arrangements. Studying the … formation of currency blocs in the 1930s, we find strong evidence of endogeneity. We work with country-group fixed effects and …

Persistent link: https://www.econbiz.de/10005504501

The Economic Consequences of Social Network Structure

Jackson, Matthew O.; Rogers, Brian; Zenou, Yves - C.E.P.R. Discussion Papers - 2015

discuss the challenges of accounting for the endogeneity of networks in assessing the relationship between the patterns of …

Persistent link: https://www.econbiz.de/10011165640

Monetary policy responses to oil price fluctuations

Bodenstein, Martin; Guerrieri, Luca; Kilian, Lutz - C.E.P.R. Discussion Papers - 2012

The recent volatility in global commodity prices and in the price of oil, in particular, has created renewed interest in the question of how monetary policy makers should respond to oil price fluctuations. In this paper, we discuss why this question is ill-posed and has no general answer. The...

Persistent link: https://www.econbiz.de/10011083477

Giffen’s Good: A case of mistaken identification

Brunt, Liam - C.E.P.R. Discussion Papers - 2013

Giffen reported that, in the late nineteenth century, English wheat consumption rose when its price increased – the first recorded “Giffen good”. Using Giffen’s data, I explain how he reached his conclusion. I then show that his analysis was faulty: price elasticity of demand appears...

Persistent link: https://www.econbiz.de/10011084480

Analyzing female labor supply -- Evidence from a Dutch tax reform

Bosch, Nicole; van der Klaauw, Bas - C.E.P.R. Discussion Papers - 2009

Among OECD countries, the Netherlands has average female labor force participation, but by far the highest rate of part-time work. This paper investigates the extent to which married women respond to financial incentives. We exploit the exogenous variation caused by a substantial Dutch tax...

Persistent link: https://www.econbiz.de/10005034759

International Trade and Child Labour: Cross-Country Evidence

Edmonds, Eric V; Pavcnik, Nina - C.E.P.R. Discussion Papers - 2004

for the endogeneity of trade and for cross-country income differences, the openness elasticity of child labour at cross …

Persistent link: https://www.econbiz.de/10005067495