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Immigration and wage dynamics in Germany

Klinger, Sabine; Musayev, Anvar; Natal, Jean-Marc; … - 2019

German wages have not increased very rapidly in the last decade despite strong employment growth and a 5 percentage point decline in the unemployment rate. Our analysis shows that a large part of the decline in unemployment was structural. Micro-founded Phillips curves fit the German data rather...

Persistent link: https://www.econbiz.de/10012155220

Predicting downside risks to house prices and macro-financial stability

Deghi, Andrea; Katagiri, Mitsuru; Shahid, Sohaib; … - 2020

This paper predicts downside risks to future real house price growth (house-prices-at-risk or HaR) in 32 advanced and emerging market economies. Through a macro-model and predictive quantile regressions, we show that current house price overvaluation, excessive credit growth, and tighter...

Persistent link: https://www.econbiz.de/10012252738

Can Institutional Reform Reduce Job Destruction and Unemployment Duration? : Yes it Can

Pérez Ruiz, Esther - 2012

along the curve reveals its preferences over the destruction-duration mix, while its distance from the origin indicates the …

Persistent link: https://www.econbiz.de/10014412162

Understanding the use of long-term finance in developing economies

Martínez Pería, María Soledad; Schmukler, Sergio L. - 2017

This short paper reviews recent literature on the use of long-term finance in developing economies (relative to advanced ones) to identify where long-term financing occurs, and what role different financial intermediaries and markets play in extending this type of financing. Although banks are...

Persistent link: https://www.econbiz.de/10011671079

In search of lost time : examining the duration of sudden stops in capital flows

David, Antonio C.; Gonçalves, Carlos Eduardo Soares - 2019

This paper investigates what factors affect the duration of sudden stops in capital flows using quarterly data for a … sudden stop state by between 50 to 80 percent. Flexible exchange rate regimes significantly shorten the duration of output … decelerations following sudden stops by over 30 percent. Positive variations in terms of trade also abbreviate the duration of …

Persistent link: https://www.econbiz.de/10012154578

Commercial Property Price Indexes : Problems of Sparse Data, Spatial Spillovers, and Weighting

Silver, Mick S. - 2014

Transaction-price residential (house) and commercial property price indexes (RPPIs and CPPIs) have inherent problems of sparse data on heterogeneous properties, more so CPPIs. In an attempt to control for heterogeneity, (repeat-sales and hedonic) panel data regression frameworks are typically...

Persistent link: https://www.econbiz.de/10014411213

Governments' Payment Discipline: The Macroeconomic Impact of Public Payment Delays and Arrears

2015 - Checherita-Westphal, Cristina ; Klemm, Alexander ; Viefers, Paul ed

This paper considers the impact of changes in the payment discipline of governments on the private sector. We argue that increased delays in public payments can affect private sector liquidity and profits and hence ultimately economic growth. We test this prediction empirically for European...

Persistent link: https://www.econbiz.de/10014411924

The U.S. Manufacturing Recovery : Uptick or Renaissance?

Celasun, Oya - 2014

The notable rebound of U.S. manufacturing activity following the Great Recession has raised the question of whether the sector might be experiencing a renaissance. Using panel regressions, we find that a depreciating real exchange rate, an increasing spread in natural gas prices between the...

Persistent link: https://www.econbiz.de/10014394302

Nonperforming Loans and Macrofinancial Vulnerabilities in Advanced Economies

Nkusu, Mwanza - 2011

We analyze the link between nonperforming loans (NPL) and macroeconomic performance using two complementary approaches. First, we investigate the macroeconomic determinants of NPL in panel regressions and confirm that adverse macroeconomic developments are associated with rising NPL. Second, we...

Persistent link: https://www.econbiz.de/10014399141

Commercial property price indexes : problems of sparse data, spatial spillovers, and weighting

Silver, Mick S.; Graf, Brian - 2014

Persistent link: https://www.econbiz.de/10010388650