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Structural unemployment and the output gap in Germany : evidence from an SVAR analysis within a hysteresis framework

Fritsche, Ulrich; Logeay, Camille - 2002

The German unemployment rate shows strong signs if non-stationarity over the course of the previous decades. This is in line with an insider-outsider model under full hysteresis. We applied a "theory-guided view" to the data using the structural VAR model as developed by Balmaseda, Dolado and...

Persistent link: https://www.econbiz.de/10010260640

Long-run forecasting in multicointegrated systems

Engsted, Tom; Siliverstovs, Boriss; Haldrup, Niels - 2003

We extend the analysis of Christoffersen and Diebold (1998) on long-run forecasting in cointegrated systems to multicointegrated systems. For the forecast evaluation we consider several loss functions, each of which has a particular interpretation in the context of stock-flow models where...

Persistent link: https://www.econbiz.de/10010260703

Long memory in UK real GDP, 1851-2013: An ARFIMA-FIGARCH analysis

Caporale, Guglielmo Maria; Škare, Marinko - 2014

This paper analyses the long-memory properties of both the conditional mean and variance of UK real GDP over the period 1851-2013 by estimating a multivariate ARFIMA-FIGARCH model (with the unemployment rate and inflation as explanatory variables). The results suggest that this series is...

Persistent link: https://www.econbiz.de/10010369272

Energy transition metals

Boer, Lukas; Pescatori, Andrea; Stuermer, Martin - 2021

The energy transition requires substantial amounts of metals such as copper, nickel, cobalt and lithium. Are these metals a key bottleneck? We identify metal-specific demand shocks, estimate supply elasticities and pin down the price impact of the energy transition in a structural scenario...

Persistent link: https://www.econbiz.de/10012658435

Migration, the quality of the labour force and economic inequality

Kahanec, Martin; Zimmermann, Klaus F. - 2008

Mobility of workers involves flows of labour, human capital and other production factors and thus contributes to a more efficient allocation of resources. Besides these effects on allocative efficiency, migrant flows affect relative wages and also change the international and national...

Persistent link: https://www.econbiz.de/10010265004

Inequality over the business cycle: The role of distributive shocks

Clemens, Marius; Eydam, Ulrich; Heinemann, Maik - 2020

This paper examines the dynamics of wealth and income inequality along the business cycle and assesses how they are related to fluctuations in the functional income distribution. In a panel estimation for OECD countries between 1970 and 2016 we find that on average income inequality - measured...

Persistent link: https://www.econbiz.de/10012226721

Voting on Redistribution with Tax Evasion

Borck, Rainald - 2003

This paper analyzes voting on a linear income tax which is redistributed lump sum to the taxpayers. Individuals can evade taxes, which leads to penalties if evasion is detected. Since preferences satisfy neither single peakedness nor single crossing, an equilibrium may not exist. When it does...

Persistent link: https://www.econbiz.de/10010260655

Are People Inequality Averse, and Do They Prefer Redistribution by the State? Evidence From German Longitudinal Data on Life Satisfaction

Schwarze, Johannes; Härpfer, Marco - 2002

We link life-satisfaction data to inequality of the pre-government income distribution at the regional level, to estimate the degree of inequality aversion. In addition, we investigate whether a reduction in inequality by the state increases individual well-being. We find that Germans are...

Persistent link: https://www.econbiz.de/10010260794

Voting, Inequality, and Redistribution

Borck, Rainald - 2005

his paper surveys models of voting on redistribution. Under reasonable assumptions, the baseline model produces an …, redistribution is from rich to poor. Increasing inequality increases redistribution. However, under dierent assumptions about the … economic environment, redistribution may not be simply rich to poor, and inequality need not increase redistribution. Several …

Persistent link: https://www.econbiz.de/10010260861

Fairness of public pensions and old-age poverty

Breyer, Friedrich; Hupfeld, Stefan - 2008

In several OECD countries, public pay-as-you-go financed pension systems have undergone major reforms in which future retirement benefit promises have been scaled down. A consequence of these reforms is that especially in countries with a tight tax-benefit linkage, the retirement benefit claims...

Persistent link: https://www.econbiz.de/10010265026