Search results for "Econometric"
showing 10 items of 3780 documents
Unobserved Heterogeneity in Overeducation Models: Is Personality More Important than Ability?
2013
This paper compares the performance of selected personality aspects and ability on explaining the overeducation status of the individual. Ability is defined as the difference between the actual and the predicted income. Personality proves to be an important factor affecting the risk of overeducation. For females, personality allows to better explain mismatch than ability. For males, ability frequently, but not always, performs better than personality. Controlling for personality allows for better classification of the non-overeducated, while controlling for ability improves the classification of the overeducated. The study is done on the pooled sample of 23 European countries, as well as fo…
Pension Schemes and Falling Birth-Rates: Change in Customs or Microeconomic Optimization?
2004
In this paper, we develop an overlapping generations model where fertility is endogenous. The utility of the parents is a function of the number of their children, and each child implies two types of fixed costs: the financial cost and the cost in terms of time. A "pay-as-you-go" pension scheme introduces an externality in that the number of children will be fewer than optimal because their favorable impact on the level of pension income is not taken into account. First, we define the competitive equilibrium dynamics and the steady state. This allows comparisons with the optimal stationary state, a notion which generalizes the golden rule. Two instruments, pensions and child benefits, are n…
The Nordic expericence revisited: labour market booms and slumps since the 1990s in Finland and Sweden
2011
PurposeThis paper aims to provide an account of the unemployment performance of two Nordic countries during their recent labour market booms and slumps.Design/methodology/approachBased on the empirical models of Karanassou et al., we conduct dynamic simulation exercises and explore the determinants of unemployment.FindingsThe analysis yields two main findings. First, the capital stock was the most important determinant of the unemployment trajectory in both countries. This result appears in all periods considered: in the slump of the early 1990s and the boom of the late 1990s, as well as in the stabilisation period of the early 2000s. Second, the role of the foreign sector on the unemployme…
FORECASTING THE LABOUR FORCE DEMAND AND SUPPLY IN LATVIA / LATVIJOS DARBO JĖGOS PAKLAUSOS IR PASIŪLOS MODELIAVIMAS
2008
The purpose of this paper is to analyse the problems of Latvian labour market and its possible development. An econometric model for labour force demand and supply forecasting is elaborated and it comprises 120 professions, 37 aggregated groups of professions and covers time period 2007–2030. The results of the quantitative and qualitative Employers’ Survey are analysed and taken into account. The novelty of this research study lies in the complex approach to the labour force demand and supply analyses and to the forecasts to the Latvian economy in general and for its 15 separate sectors. Santrauka Šio straipsnio tikslas – išanalizuoti Latvijos darbo rinkos problemas ir galimus pokyčius. Su…
Locus of Control and Mothers' Return to Employment
2016
This paper investigates the effect of locus of control (LOC) on the length of mothers’ employment break after childbirth. Using data from the German Socio-Economic Panel Study (SOEP), duration data reveals that women with an internal LOC return to employment more quickly than women with an external LOC. We find evidence that this effect is mainly related to differential appreciation of the career costs of longer maternity leave. Given the high level of job protection enjoyed by mothers in Germany, economic consequences of differences in this non-cognitive skill can be expected to be larger in other settings.
When is there more employment, with individual or collective wage bargaining?
2019
Abstract In a standard Diamond-Mortensen-Pissarides labour market with frictions, the authors seek to determine when there is more employment with individual wage bargaining than with collective wage bargaining, using a wage equation generated by the standard total surplus sharing rule. Using a Cobb-Douglas production function, they find that if the bargaining power of the individual is high compared to the bargaining power of the union, there is more unemployment with individual wage setting and vice versa. When the individual worker and the union have the same bargaining power, if the cost of opening a vacancy is sufficiently high, there is more unemployment with individual wage setting. …
Spatial Autocorrelation in Econometric Land Use Models: An Overview
2021
International audience; This chapter provides an overview of the literature on econometric land use models including spatial autocorrelation. These models are useful to analyze the determinants of land use changes and to study their implications for the environment (carbon stocks, water quality, biodiversity, ecosystem services). Recent methodological advances in spatial econometrics have improved the quality of econometric models allowing them to identify more precisely the determinants of land use changes and make more accurate land use predictions. We review the current state of the literature on studies which account explicitly for spatial autocorrelation in econometric land use models …
Total Factor Productivity Convergence Amongst Italian Regions: Some Evidence from Panel Unit Root Tests
2009
Byrne J. P., Fazio G. and Piacentino D. Total factor productivity convergence among Italian regions: some evidence from panel unit root tests. Regional Studies. This paper employs panel unit root tests to investigate convergence in total factor productivity (TFP) among Italian regions. These tests provide an inference valid in the presence of heterogeneity and cross-sectional dependence, and when the cross-sectional dimension is smaller than the time dimension, allowing the investigation of convergence among different subsets of regions. The results add a further dimension to the conventional view on growth dynamics in the Italian peninsula depicting a lack of regional TFP convergence not o…
Production technologies in stochastic continuous time models
2011
Abstract Properties of dynamic stochastic general equilibrium models can be revealed by either using numerical solutions or qualitative analysis. Very precise and intuition-building results are obtained by working with models which provide closed-form solutions. Closed-form solutions are known for a large class of models some of which, however, have some undesirable features such as potentially negative output. This paper offers closed-form solutions for models which are just as tractable but do not suffer from these shortcomings.
Breakdown in Multilateral Negotiations
2015
Abstract We analyze a complete information multilateral bargaining model in which a buyer is to purchase two complementary goods from two sellers. Binding cash-offer contracts are used to govern transactions. In contrast to preexisting literature, we do not normalize the parties' reservation utilities to zero. We show that this assumption holds critical importance by demonstrating that a complete breakdown of negotiations may occur as the unique equilibrium outcome, even if only two sellers are present.