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Persistent link: https://www.econbiz.de/10000137510
The nexus between social leisure and life satisfaction is riddled with endogeneity problems. In investigating the causal relationship going from the first to the second variable we start from considering that retirement is an event after which the time investable in (the outside job) relational...
Persistent link: https://www.econbiz.de/10014205866
We provide empirical support for an analytical DSGE model with nominal wage stickiness where growth is driven by learning-by-doing and money shocks and their variance are allowed to impact on long-run output growth. In our theoretical model the variance of monetary shocks has a negative effect...
Persistent link: https://www.econbiz.de/10013064774
Persistent link: https://www.econbiz.de/10003738749
We provide empirical support for a DSGE model with nominal wage stickiness where growth is driven by learning-by-doing and money shocks and their variance are allowed to impact on long-run output growth. In our theoretical model the variance of monetary shocks has a negative effect on growth,...
Persistent link: https://www.econbiz.de/10012724736
Persistent link: https://www.econbiz.de/10012156093
We introduce a variant of the smooth transition autoregression - the GSTAR model - capable to parametrize the asymmetry in the tails of the transition equation by using a particular generalization of the logistic function. A General-to-Specific modelling strategy is discussed in detail, with...
Persistent link: https://www.econbiz.de/10010929166