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Persistent link: https://www.econbiz.de/10015311445
Based on long US time series we document a range of empirical properties of the labor's share of GDP, including its substantial medium-run swings. We explore the extent to which these empirical regularities can be explained by a calibrated micro-founded long-run economic growth model with...
Persistent link: https://www.econbiz.de/10015298692
and pension funds (ICPFs) as well as non-bank and non-insurance financial intermediaries, often labelled the "shadow …
Persistent link: https://www.econbiz.de/10015300397
Fertility has long been declining in industrialised countries and the existence of public pension systems is considered … pension system depresses fertility. Our theoretical framework highlights that the effect of a public pension system on … disposable income that is related to the internal rate of return of the pension system. Drawing on a unique historical data set …
Persistent link: https://www.econbiz.de/10015301824
growth in larger cities, rather than smaller ones or by population shifts across cities. We estimate individual wages …, but changes in their returns significantly influence wages, with notable variation across cities. Overall, aggregate wage …
Persistent link: https://www.econbiz.de/10015321329
The ECB has an obligation to provide statistical information of the highest quality to the public and this third edition of the publication u0093Bond markets and long-term interest rates in non-euro area Member States of the European Union and in accession countriesu0094 serves to contribute to...
Persistent link: https://www.econbiz.de/10009636827
The change in macroeconomic conditions since the ECB's strategy review in 2021 towards an environment characterised by above-target inflation, high interest rates, and renewed concerns about elevated government debt has been a vocal reminder of the intricate interdependencies between monetary...
Persistent link: https://www.econbiz.de/10015321150
Persistent link: https://www.econbiz.de/10015322150
We provide a versatile nowcasting toolbox that supports three model classes (dynamic factor models, large Bayesian VAR, bridge equations) and offers methods to manage data selection and adjust for Covid-19 observations. The toolbox aims at simplifying two key tasks: creating new nowcasting...
Persistent link: https://www.econbiz.de/10015322225
The following sections provide a description of the methodology used as part of the Supervisory Review and Evaluation Process (SREP) for assessing the interest rate risk in the banking book (IRRBB) and credit spread risk in the banking book (CSRBB) of significant institutions. The ECB uses a...
Persistent link: https://www.econbiz.de/10015322326