Second-order approximations to the variances of OLS and GLS estimators are compared when the covariance matrix is locally nonscalar. Using a result of Rothenberg, the comparison of OLS and GLS variances is shown to be asymptotically equivalent to a weighted mean square error comparison of the...

We give an expression to order O(<italic>T</italic>^-1), where <italic>T</italic> is the sample size, for bias to the estimated coefficient on a lagged dependent variable when all other regressors are exogenous. The general expression is a nonlinear function of the coefficient on the lagged dependent variable, the autoregressive...

Policy to reduce poverty has often foundered on the issue of work incentives. The issue is a manifestation of the traditional conflict between equity and efficiency; the redistribution of income from higher to lower income people typically leads to reduced incentives for both groups to supply...

Recent developments in the international economy have given rise to concern about the effects of international trade and foreign direct investment on domestic employment and wages. These concerns include fears that: jobs are being "siphoned out" of many highly industrialised countries by...

This technical working paper presents the method of analysis used by the Secretariat to shed light on the possible links between foreign trade, employment and relative wages by industrial sector and type of labour. The conclusions drawn from the study indicate, <I>inter alia</I>, that overall the...</i>

Over the past twenty years or so, unemployment has been increasing in most OECD economies. In the same period, there has been a considerable increase in the wedge between the real cost to the employer of hiring a worker and the net real wage received by the worker. The present study examines...

This working paper deals with the effects of collective bargaining and other forms of collective employee representation (such as works councils) on employment and unemployment. Collective bargaining is concerned with both substantive issues, such as rates of pay or weeks of notice to be given...

This working paper addresses the question whether imperfect competition in product markets contributes substantially to the level and persistence of unemployment in modern industrial economies. In section I, the paper documents the available empirical research of the origin and extent of product...