In the time domain, the observed cyclical behavior of the real wage hides a range of economic influences that give rise to cycles of differing lengths and strengths. This may serve to produce a distorted picture of wage cyclicality. Here, we deploy frequency domain methods that allow us to asses...

Replaced with revised version of paper 02/10/10.

In the period of 2002–2006, observations of the unemployment development in municipalities situated in less favourable areas (hereafter LFA) of the micro-region of Strakonice and in other municipalities of the microregion outside of the LFA. The aim of the observations was to determine whether...

This dissertation consists of three essays that apply both economic theory and econometric methods to understand design and dynamics of institutions. In particular, it studies how institutions aggregate information and deal with uncertainty and attempts to derive implications for optimal...

This paper empirically investigates and identifies the main contributing factors to output and productivity growth in Australia for the period 1950-2005. Cointegration and a vector error-correction model are used along with Granger causality tests, impulse response functions and forecast error...

Financial liberalisation, through increasing investment as well as the average productivity of capital, should stimulate economic growth, or so the theory goes. Bank lending unfortunately suffers adverse selection and moral hazard effects, to which the establishment and expansion of stock...

This paper examines causality and parameter instability in the long-run relationshipbetween fertility and women’s employment. This is done by a cross-national comparisonof macro-level time series data from 1960–2000 for France, West Germany, Italy,Sweden, the UK, and the USA. By applying...

The Title of this research is Causality analyze between human development andeconomic growth in North Sumatera. This research purposed to analyze causality relationbetween Human development and economic growth in North Sumatera. Variables used for thismodel are Human development Index (HDI) and...

Das Kausalitaetskonzept von Granger und die Impuls-Antwort-Analyse sind zwei Konzepte, die haeufig verwendet werden, um kausale Beziehungen zwischen zwei Variablen in vektorautoregressiven (VAR) Modellen zu untersuchen. Wenn das VAR Modell mehr als zwei Variablen umfasst, besteht eine...

In the present paper we concentrate on the interaction and sharing of the information between the organized markets in the Czech Republic. Moreover, the interesting principal-agent problem between the Prague Stock Exchange (PSE) and RMS (over the counter system) is studied to identify the...