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Muck, Jakub - 2015

We document the consequences of ambiguity in the empirical definition of the macroeconomic labor share. Depending on its definition, the properties of short-run fluctuations, medium-run swings, and long-run stochastic trends of the labor share may vary substantially. Based on a range of...

Persistent link: https://www.econbiz.de/10013020644

On the Optimal Labor Income Share

Growiec, Jakub - 2018

Labor's share of income has attracted interest in recent years reflecting its apparent decline. These falls, witnessed across many countries, are usually deemed undesirable. Any such assertion, however, begs the question of what is the socially optimal labor share. We address this question using...

Persistent link: https://www.econbiz.de/10012921895

Labor Share and Growth in the Long Run

Charpe, Matthieu - 2019

This paper establishes some stylized facts of the long run relationship between growth and labor shares using historical data for the United States (1898-2010), the United Kingdom (1856-2010), and France (1896-2010). Performing individual country time-frequency analysis, we demonstrate the...

Persistent link: https://www.econbiz.de/10012889951

Understanding the Dynamics of Labor Shares and Inflation

Lawless, Martina; Whelan, Karl - 2021

Calvo-style models of nominal rigidities currently provide the dominant paradigm for understanding the linkages between wage and price dynamics. Recent empirical implementations stress the idea that these models link inflation to the behavior of the labor share of income. Galí, Gertler, and...

Persistent link: https://www.econbiz.de/10013316949

Endogenous Labor Share Cycles : Theory and Evidence

Growiec, Jakub - 2015

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/10013026218

Explaining the Money Demand of Non-Financial Corporations in the Euro Area : A Macro and a Micro View

Martinez-Carrascal, Carmen - 2010

This paper analyses euro area non-financial corporations (NFC) money demand, both from a macro and a microeconomic point of view. At a macro level, money holdings are modelled as a function of real gross added value, the price level, the long-term interest rate on bank lending to non-financial...

Persistent link: https://www.econbiz.de/10013137587

Do EU Structural Funds Promote Regional Employment? Evidence from Dynamic Panel Data

Mohl, Philipp - 2011

impact of EU structural funds on employment drawing on a panel dataset of 130 European NUTS regions over the time period 1999 … structural funds for an extended time horizon and examine the robustness of our results by comparing different dynamic panel …

Persistent link: https://www.econbiz.de/10013118136

Analysing and Forecasting Price Dynamics Across Euro Area Countries and Sectors : A Panel VAR Approach

Dées, Stéphane - 2014

This paper uses a panel VAR (PVAR) approach to estimating, analysing, and forecasting price dynamics in four different …

Persistent link: https://www.econbiz.de/10013049274

Euro Area Private Consumption : Is There a Role for Housing Wealth Effects?

Skudelny, Frauke - 2009

the period 1980-2006, and one on the individual euro area countries from1995-2006, using panel data techniques. The impact …, the panel estimation yields somewhat lower results (0.6 to 1.1 cents). The MPC out of nominal housing wealth lies between … effect of volatile house prices, we find similar effects in the times series estimation while the MPC is larger in the panel …

Persistent link: https://www.econbiz.de/10013159721

Exports and Domestic Demand Pressure : A Dynamic Panel Data Model for the Euro Area Countries

Bobeica, Elena - 2015

panel model for eleven euro area countries over the last two decades. The results suggest that there is a statistically …

Persistent link: https://www.econbiz.de/10013024782