The wage curve introduced by Blanchflower and Oswald (1990, 1994) postulates a negative correlation between wages and … unemployment. Empirical results focus on particular theoretical channels establishing the relationship. Panel models mostly draw on …

This paper compares various forecasts using panel data with spatial error correlation. The true data generating process … moving average type. The best linear unbiased predictor is compared with other forecasts ignoring spatial correlation, or … rather than homogeneous panel data models …

The theory of fiscal and regulatory competition between jurisdictions is more advanced than its empirical testing. This … enforcing minimum wage standards during 2004-2012 in China. We manually collect a panel data set of city-level minimum wage … city will respond by an increase of roughly 0.4-1.0 percentage points. The results are robust to using three estimation …

This paper considers a multivariate t version of the Gaussian dynamic conditional correlation (DCC) model proposed by … than by GARCH type volatility estimates. The t-DCC estimation procedure is applied to a portfolio of daily returns on …-DCC specification. The t-DCC model also passes a number of VaR diagnostic tests over an evaluation sample. The estimation results …

In this paper we use a relatively new panel data quantile regression technique to examine native-immigrant earnings …

waves of the German Socio-Economic Panel we find empirical support for both the form of the utility function and the …

Carlo experiments, where we also study the estimation of the aggregate effects of micro and macro shocks. The paper …

We develop and estimate a panel data model explaining the answers to questions about subjective probabilities, using …

This paper proposes maximum likelihood estimators for panel seemingly unrelated regressions with both spatial lag and … spatial lag dependent variable and where the heterogeneity in the panel is incorporated via an error component specification … spatial autocorrelation and random effects for this spatial SUR panel model. The small sample performance of the proposed …