This study makes an attempt to examine the long-run relationship between the key labour market parameters of employment, aggregate output, real product wages and labour-augmenting technical progress for a sample of 21 OECD countries covering the period from 1970 to 2000. A new panel error...

Empirical evidence is increasing by emphasizing the positive influence of financial markets on the level and the rate of growth of a country's per-capita income. Theoretically, the rationale for the finance-growth nexus appears to be straightforward: in imperfect economies, financial markets...

The paper investigates the determinants of banking profitability and banking market conditions in Austria. We conduct a panel econometric analysis which allows for testing the hypotheses which have become the most prominent in the literature on bank profitability: the...

We propose a bivariate structural time series framework to decompose GDP and the unemployment rate into their trend, cyclical, and irregular components. We implement Okun's law by a generalised version of the common cycles restriction allowing for a phase shift between the two cycles and add a...

In this paper we investigate the performance of the Austrian banks which have participated in a domestic in-market merger operation since 1996. For this purpose we apply the Data Envelopment Analysis (DEA) methodology in combination with a Tobit model to account for the variation of the...

The self-financing capacity of Austrian manufacturing industry attained a record high with the cash-flow ratio reaching 34 percent. The cyclical boom improved the profit situation in all major sectors. Strong investment activity boosted revenues particularly of producers of advanced technical...