Search results for "050205 econometrics"
showing 10 items of 212 documents
Does one size fit all? The impact of cognitive skills on economic growth
2016
Les Documents de Travail de l'IREDU, n°2016-1; This paper tests for heterogeneous effects of cognitive skills on economic growth across countries. Using a new extended dataset on cognitive skills and controlling for potential endogeneity, we find that the magnitude of the effect is about 60 per cent higher for low-income countries compared to high-income countries, and it more than doubles when low TFP countries are compared to high TFP countries. There are also marked differences across geographic regions. Using data on the share of the population with advanced and minimum skill levels, our results also indicate that high-income countries should focus on increasing the number of high skill…
Do university technology transfers increase firms’ innovation?
2020
Abstract We investigate how technology transfers from universities to private firms influence firm innovativeness. Using data on R&D acquisitions from universities of more than 10,000 Spanish firms for the period 2005–2013 and applying propensity score matching techniques, we find that technology transfers from universities strongly increase firm innovativeness. We next explore heterogeneous effects in order to analyze whether these gains are mediated by firm size and the business cycle. Our results suggest that the contribution of universities to firm innovation is particularly important for small firms and during the whole business cycle. The contribution of universities goes beyond its d…
Mobile telephony in emerging markets: The importance of dual-SIM phones
2020
Abstract A substantial share of customers in emerging markets use dual-SIM phones and subscribe to two mobile networks. A primary motive for so called multi-simming is to take advantage of cheap on-net services from both networks. In our modelling effort, we augment the seminal model of competing telephone networks á la Laffont, Rey and Tirole (1998b) by a segment of flexible price hunters that may choose to multi-sim. According to our findings, in equilibrium, the networks set a high off-net price in the linear tariffs to achieve segmentation. This induces the price hunters to multi-sim. We show that increased deployment of dual-SIM phones may induce a mixing equilibrium with high expected…
Regional Labor Market Adjustment in the United States: Trend and Cycle
2017
We present new evidence on the evolution of labor mobility in the United States over the past four decades. Building on the seminal methodology by Blanchard and Katz (1992), combined with multiple sources of regional population and migration data, we show that interstate mobility in response to relative labor demand conditions is not as high as previously established and has been weakening since the early 1990s. In addition, we find that mobility is countercyclical: net migration across regions responds more strongly to spatial disparities in recessions than in normal times. While the declining trend in mobility has been driven by weaker out-migration from states experiencing negative relat…
Bubbles and Crowding-in of Capital via a Savings Glut
2017
This paper uncovers a mechanism by which bubbles crowd in capital investment. If capital formation is initially depressed by a binding credit constraint, a bubble triggers a savings glut. Higher returns in a new bubbly equilibrium attract additional savings, which are channeled to expand investment at the extensive margin, leading to permanently higher capital, output, and wages. We demonstrate that crowding-in through this channel is a robust phenomenon that occurs along the entire time path.
Technology and Labor Regulations: Theory and Evidence
2015
This paper shows that different labor market policies can lead to differences in technology across sectors in a model of labor saving technologies. Labor market regulations reduce the skill premium and as a result, if technologies are labor saving, countries with more stringent labor regulation, which bind more for low skilled workers, become less technolog- ically advanced in their high skill sectors, but more technologically advanced in their low skill sectors. We then present data on capital-output ratios, on estimated productivity levels and on patent creation, which tend to support the predictions of our model.
The Employment Effect of Reforming a Public Employment Agency
2015
By how much does an increase in operating effectiveness of a public employment agency (PEA) and a reduction of unemployment benefits reduce unemployment? Using a recent labour market reform in Germany as background, we find that an enhanced effectiveness of the PEA explains about 20% of the observed post-reform unemployment decline. The role of unemployment benefit reduction explains just about 5% of the observed decline. Due to disincentive effects resulting from the reform, the reform of the PEA could have had an even higher impact on unemployment reduction if there had been less focus on long-term unemployed workers.
Redistribution, selection, and trade
2017
Abstract This paper examines the distributional effects of international trade in a general equilibrium model with heterogeneous agents and a welfare state redistributing income. The redistribution scheme is financed by a progressive income tax and gives the same absolute transfer to all individuals. Ceteris paribus, international trade leads to an increase in income per capita but also to higher income inequality on two fronts. Inter-group inequality between managers and workers increases, and intra-group inequality within the group of managers goes up as well. We show that for a given tax rate, there is an endogenous increase in the size of the welfare state that works against the increas…
How does fiscal consolidation impact on income inequality?
2012
In this paper, we assess the impact of fiscal consolidation on income inequality. Using a panel of 18 industrialized countries from 1978 to 2009, we find that income inequality significantly rises during periods of fiscal consolidation. In addition, while fiscal policy that is driven by spending cuts seems to be detrimental for income distribution, tax hikes seem to have an equalizing effect. We also show that the size of the fiscal consolidation program (in percentage of GDP) has an impact on income inequality. In particular, when consolidation plans represent a small share of GDP, the income gap widens, suggesting that the burden associated with the effort affects disproportionately house…
Frictional and Non-Frictional Unemployment in a Labor Market with Matching Frictions
2016
Using the Mortensen and Pissarides model of a labor market with frictions, this paper proposes a new method, simpler than the one presented in Michaillat (2012), for decomposing unemployment into frictional and non-frictional (rationing) unemployment for a derived rigid wage-setting rule. We use it to compute the frictional and non frictional unemployment rate for two economies characterized by different labor market institutions, namely the US and the Spanish economy. For the entire period under study, the US frictional unemployment rate is around 36 per cent of total unemployment, whereas for Spain, approximately 20 per cent of all unemployment is due to frictions. This outcome may be exp…