The Zimbabwean nation has been struggling to gain economic development momentum in the multicurrency era despite numerous efforts being made by policy makers. The economy has since operated with budget deficits and high consumption expenditures in the form of wages for civil servants and little...

In this paper we document the main features of the distributions of wages, earnings, consumption and wealth in Japan since the early 1980s using four main data sources: the Basic Survey on Wage Structure (BSWS), the Family Income and Expenditure Survey (FIES), the National Survey of Family...

In this paper we document the main features of the distributions of wages, earnings, consumption and wealth in Japan since the early 1980s using four main data sources: the Basic Survey on Wage Structure (BSWS), the Family Income and Expenditure Survey (FIES), the National Survey of Family...

Thus far in reporting the findings of our project “Fifty Years After: Black Employment in the United States Under the Equal Employment Opportunity Commission,” our analysis of what has happened to African American employment over the past half century has documented the importance of...

In this article we define a Recursive Competitive Equilibrium, provide an example and review the related literature. The article is an entry prepared for The New Palgrave: A Dictionary of Economics, 2nd Edition (Palgrave Macmillan: New York).

The linear Gaussian state space model for which the common variance istreated as a stochastic time-varying variable is considered for themodelling of economic time series. The focus of this paper is on thesimultaneous estimation of parameters related to the stochasticprocesses of the mean part...

We investigate changes in the time series characteristics of postwar U.S. inflation. In a model-based analysis the conditional mean of inflation is specified by a long memory autoregressive fractionally integrated moving average process and the conditional variance is modelled by a stochastic...

Proxy structural vector autoregressions (SVARs)identify structural shocks in vector autoregressions (VARs) with external proxy variables that are correlated with the structural shocks of interest but uncorrelated with other structural shocks. We provide asymptotic theory for proxy SVARs when the...

By international comparison the productivity development of the overall economy in Germany has taken a serious hit after the reunification boom. Since then Germany has fallen behind not only in comparison to the USA and emerging-market nations like South Korea, but also in comparison to other EU...

Die gesamtwirtschaftliche Produktivitätsentwicklung in Deutschland ist nach dem Wiedervereinigungsboom im internationalen Vergleich deutlich eingebrochen. Nicht nur gegenüber den USA und Schwellenländern wie Südkorea, sondern auch im Vergleich zu anderen EU-Staaten fiel Deutschland seitdem...