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Government Deficit Shocks and Okun's Coefficient Volatility : New Insights on the Austerity Versus Growth Debate

Binh Thai Pham - 2019

This paper connects two salient economic features: (i) Fiscal shocks have asymmetric effects across business cycle phases (Gechert et al., 2019); (ii) Okun's coefficient is time varying and may be unstable. The intertwined dynamic behavior of fiscal shocks and unemployment-output trade-offs are...

Persistent link: https://www.econbiz.de/10012864881

Global Aging and Fiscal Policy with International Labor Mobility : A Political Economy Perspective

Tosun, Mehmet Serkan - 2009

This paper uses an overlapping generations model with international labor mobility and a politically responsive fiscal policy to examine aging in developed and developing regions. Migrant workers change the political structure composed of young and elderly voters in both labor-receiving and...

Persistent link: https://www.econbiz.de/10013159749

Infinite Dimensional VARs and Factor Models

Chudik, Alexander; Pesaran, M. Hashem - 2021

that this will lead to a dynamic factor model with the dominant unit acting as the factor. The problems of estimation and …

Persistent link: https://www.econbiz.de/10013316638

Man-Cessions, Fiscal Policy, and the Gender Composition of Employment

Bredemeier, Christian - 2015

In recessions, predominantly men lose their jobs, which has given rise to the term "man-cessions". We analyze whether fiscal expansions bring men back into jobs. To do so, we estimate vector-autoregressive models and identify the effects of fiscal shocks and non-fiscal shocks on the gender...

Persistent link: https://www.econbiz.de/10013024941

A Survey of the Role of Fiscal Policy in Addressing Income Inequality, Poverty Reduction and Inclusive Growth

Heshmati, Almas - 2014

A growing concern on widening income gap between the rich and the poor, the policy mismatch in tackling the relative poverty and income inequality have invited increasing volumes of research focusing on the nexus between equity and efficient growth. Developed countries have experienced the...

Persistent link: https://www.econbiz.de/10013054924

Cyclical Skill-Biased Technological Change

Balleer, Almut - 2009

Over the past two decades, technological progress has been biased towards making skilled labor more productive. What does skill-biased technological change imply for business cycles? To answer this question, we construct a quarterly series for the skill premium from the CPS and use it to...

Persistent link: https://www.econbiz.de/10013158513

An Empirical Growth Model for Major Oil Exporters

Esfahani, Hadi Salehi - 2012

-run output equation with a coefficient equal to the share of capital (α). The long-run theory is tested using quarterly data on … results support the long-run theory. The existence of long-run relations between real output, foreign output and real oil … steadily over the past three decades, the theory suggests that the effect of oil income on the economy's steady state growth …

Persistent link: https://www.econbiz.de/10013107701

Birthplace Diversity and Economic Prosperity

Alesina, Alberto - 2013

We use recent immigration data from 195 countries and propose an index of population diversity based on people's birthplaces. This new index is then decomposed into a size (share of foreign born) and a variety (diversity of immigrants) component and is available for 1990 and 2000 disaggregated...

Persistent link: https://www.econbiz.de/10013076803

The Evolution of Inflation and Unemployment : Explaining the Roaring Nineties

Karanassou, Marika - 2007

This paper analyses the relation between US inflation and unemployment from the perspective of quot;frictional growth,quot; a phenomenon arising from the interplay between growth and frictions. In particular, we examine the interaction between money growth (on the one hand) and various real and...

Persistent link: https://www.econbiz.de/10012776513

Immigration, Human Capital Formation and Endogenous Economic Growth

Ehrlich, Isaac - 2016

Census data from international sources covering 77% of the world's migrant population indicate that the skill composition of migrants in major destination countries, including the US, has been rising over the last four decades. Moreover, the population share of skilled migrants has been...

Persistent link: https://www.econbiz.de/10013001874