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This paper provides a review of the literature on unit roots and cointegration in panels where the time dimension (T … degrees, the dependence that might prevail across the different units in the panel. In the analysis of cointegration the … hypothesis testing and estimation problems are further complicated by the possibility of cross section cointegration which could …
Persistent link: https://www.econbiz.de/10010276171
This paper extends the cross sectionally augmented panel unit root test proposed by Pesaran (2007) to the case of a multifactor error structure. The basic idea is to exploit information regarding the unobserved factors that are shared by other time series in addition to the variable under...
Persistent link: https://www.econbiz.de/10010276216
We assess the sustainability of public finances in the EU15 using stationarity and cointegration analysis. Specifically … apply modern panel cointegration techniques developed by Pedroni (1999, 2004), generalized by Banerjee and Carrion …
Persistent link: https://www.econbiz.de/10010264310
Why are average hours worked per adult lower in rich countries than in poor countries? We consider two natural explanations: income effects in preferences, in which leisure becomes more valuable when income rises, and distortionary tax systems, which are more prevalent in richer countries. To...
Persistent link: https://www.econbiz.de/10012214162
We use national labor force surveys from 1983 through 2011 to construct hours worked per person on the aggregate level and for different demographic groups for 18 European countries and the US. We find that Europeans work 19% fewer hours than US citizens. Differences in weeks worked and in the...
Persistent link: https://www.econbiz.de/10011555510
We document the time-series of employment rates and hours worked per employed by married couples in the US and seven European countries (Belgium, France, Germany, Italy, the Netherlands, Portugal, and the UK) from the early 1980s through 2016. Relying on a model of joint household labor supply...
Persistent link: https://www.econbiz.de/10011932017
We document contemporaneous differences in the aggregate labor supply of married couples across 17 European countries and the US. Based on a model of joint household decision making, we quantify the contribution of international differences in non-linear labor income taxes and consumption taxes...
Persistent link: https://www.econbiz.de/10011615880
We study the effect of childbirth on local and non-local employment dynamics for both men and women using Belgian social security and geo-location data. Applying an event-study design that accounts for treatment effect heterogeneity, we show that 75 percent of the effect of the birth of a first...
Persistent link: https://www.econbiz.de/10013353404
This study investigates how the first childbirth affects the wage processes of highly attached women. We estimate a flexible fixed effects wage regression model extended with post-birth fixed effects by the control function approach. Register data on West Germany are used and we exploit the...
Persistent link: https://www.econbiz.de/10010280803
We study the effect of childbirth on local and non-local employment dynamics for both men and women using Belgian social security and geo-location data. Applying an event-study design that accounts for treatment effect heterogeneity, we show that 75 percent of the effect of the birth of a first...
Persistent link: https://www.econbiz.de/10014082168