Search results for "jel:E2"
showing 5 items of 25 documents
Job Creation in Spain: Productivity Growth, Labour Market Reforms or both?
2010
The benefits implied by changing the growth model are at the heart ofthe heated political and economic debate in Spain. Increases in productivity and the reallocation of employment towards more innovative sectors are defended as the panacea for most of the ills afflicting the Spanish economy. In this paper we use a DSGE model with price rigidities, and labour market search frictions a la Mortensen-issarides, to assess the effects of the change in the growth model onunemployment. In so doing, we assume that the vigorous demand shock which has been mostly responsible for recent economic growth in Spain will be successfully substituted by a productivity shock as the main driver of Spain‘s…
Search, Nash Bargaining and Rule of Thumb Consumers
2009
This paper analyses the effects of introducing typical Keynesian features, namely rule-of-thumb consumers and consumption habits, into a standard labour market search model. It is a well-known fact that labour market matching with Nash-wage bargaining improves the ability of the standard real business cycle model to replicate some of the cyclical properties featuring the labour market. However, when habits and rule-of-thumb consumers are taken into account, the labour market search model gains extra power to reproduce some of the stylised facts characterising the US labour market, as well as other business cycle facts concerning aggregate consumption and investment behaviour.
A New Perspective of Investment Modelling at the European Union Level
2015
The study that represents the subject of this paper follows the analysis of the investment function and the influencing factors at the European Union level. The research has, as a starting point, the hypothesis that there is a negative relationship between the European Union investments and tax rates. For verifying this hypothesis, the structural equation modeling is used (SEM), and the same technique is applied in the second part of the research, which will track the development of the investments’ model at the European Union level. The results will highlight the relationships that are established between specific variables that characterize the volume of investments.
A New Approach of Investment for the Future Economic Policies
2013
The investment takes the form of sums of money spent for the acquisition of capital goods, changes in business inventories, and the purchases of new residential housing that are not currently consumed, but will be used in the future for the growth of the wealth. The work covered by this study aims to identify the model that presents, in the best possible way, the method of investment’s calculation and to determine the factors of influence. In the first part, the investment is analyzed as a linear function dependent on the interest rate; and the second part implies a new model for determining long-term investments.
ICT demand behaviour: An international comparison
2009
This study aims to provide some empirical explanations for the gaps in ICT diffusion between industrialized countries, especially European countries vis-à-vis the United States. The panel data cover eleven OECD countries: Austria, Denmark, Finland, France, Germany, Italy, Japan, the Netherlands, Spain, the United Kingdom and the United States. These annual macroeconomic data span the 1981-2005 period.The analysis provides some original results: (i) the impact on ICT diffusion of the level of education and market rigidities has changed over time. The correlation of ICT diffusion, positive with the level of education and negative with market rigidities, increased over time (in absolute terms)…