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Persistent link: https://www.econbiz.de/10012856063
This paper deals with the estimation of employment equations for Germany, which are to be used for forecasting and … studies for West Germany and Germany, respectively. The authors find that the elasticity of employment with respect to output … is robustly estimated and can therefore be restricted to one. The elasticity of employment with respect to the real wage …
Persistent link: https://www.econbiz.de/10003744528
with results from the research on the German employment performance in the Great Recession which attributed part of the … employment success to the widespread use of instruments of internal flexibility. Our results confirm that generally, the … den USA. Frühere Untersuchungen haben gezeigt, dass die extensive Margin dominiert und, dass, zweitens, in beiden Ländern …
Persistent link: https://www.econbiz.de/10011433362
stochastic volatility model of sectoral employment growth. Reallocative shocks have no effect on the natural rate of unemployment …
Persistent link: https://www.econbiz.de/10009232258
In this paper, we review the most common specifications of discrete-time stochastic volatility (SV) models and illustrate the major principles of corresponding Markov Chain Monte Carlo (MCMC) based statistical inference. We provide a hands-on ap proach which is easily implemented in empirical...
Persistent link: https://www.econbiz.de/10003770817
Rising wage inequality in the U.S. and Britain (especially in the 1980s) and rising continental European unemployment (with rather stable wage inequality) have led to a popular view in the economics profession that these two phenomena are related to negative relative demand shocks against the...
Persistent link: https://www.econbiz.de/10011448440
Rising wage inequality in the U.S. and Britain (especially in the 1980s) and rising continental European unemployment (with rather stable wage inequality) have led to a popular view in the economics profession that these two phenomena are related to negative relative demand shocks against the...
Persistent link: https://www.econbiz.de/10013319961
Persistent link: https://www.econbiz.de/10013428556
Persistent link: https://www.econbiz.de/10003702417
This paper provides an empirical analysis on the determination of wages at the sectoral level in main industrial economies. Nominal wages are bargained between labour unions and employers in imperfect competitive markets, where spillovers across sectors might occur. Using a principal component...
Persistent link: https://www.econbiz.de/10003959628