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The relationship between wage growth and wage levels (replication data)
We estimate the covariance between the permanent component of wages and a random coefficient on experience in models both with potential experience and with actual experience.... -
Comovements and heterogeneity in the euro area analyzed in a non-stationary d...
This paper establishes stylized facts on comovements and heterogeneity of individual euro area countries' output and price developments in the past two decades. For this... -
Is labour market training a curse for the unemployed? Evidence from a social ...
In 1994 a social experiment was conducted in Denmark, where unemployed applicants for classroom training were randomised into treatment and control groups. The data are... -
Jointness of growth determinants (replication data)
This paper introduces a new measure of dependence or jointness among explanatory variables. Jointness is based on the joint posterior distribution of variables over the model... -
Efficiency and productivity of the US banking industry, 1998-2005: evidence f...
This paper provides estimates of bank efficiency and productivity in the United States, over the period from 1998 to 2005, using (for the first time) the globally flexible... -
Annual miles drive used car prices (replication data)
This paper investigates whether the net benefits from owning a vehicle, proxied by annual miles driven, explain the price declines observed over a vehicle's life. We first model... -
Market fundamentals versus rational bubbles in stock prices: a Bayesian persp...
Using Bayesian Markov chain Monte Carlo methods, we decompose the log price-dividend ratio into a market fundamentals component and a bubble component. The market fundamentals... -
R&D and subsidies at the firm level: an application of parametric and sem...
This paper analyzes the effect of public R&D subsidies on firms' private R&D investment per employee and new product sales in German manufacturing. Parametric and... -
Identifying the new Keynesian Phillips curve (replication data)
Phillips curves are central to discussions of inflation dynamics and monetary policy. The hybrid new Keynesian Phillips curve (NKPC) describes how past inflation, expected... -
An alternative approach to estimate the wage returns to private-sector traini...
This paper follows an alternative approach to identify the wage effects of private-sector training. The idea is to narrow down the comparison group by only taking into... -
A bounds analysis of school completion rates in Australia (replication data)
Official estimates of school completion rates in Australia increased in the 1980s, peaked in 1992, and fell immediately thereafter before stabilizing. The official estimates... -
The effect of seasonal adjustment on the properties of business cycle regimes...
We study the impact of seasonal adjustment on the properties of business cycle expansion and recession regimes using analytical, simulation and empirical methods. Analytically,... -
Is gravity linear? (replication data)
Despite the solid theoretical foundation on which the gravity model of bilateral trade is based, empirical implementation requires several assumptions which do not follow... -
Structural breaks and GARCH models of exchange rate volatility (replication d...
We investigate the empirical relevance of structural breaks for GARCH models of exchange rate volatility using both in-sample and out-of-sample tests. We find significant... -
Quantifying the supply-side benefits from forward contracting in wholesale el...
The assumption of expected profit-maximizing bidding behavior in a multi-unit, multi-period auction with step-function supply curves is used to estimate cost functions for... -
Finite sample inference methods for dynamic energy demand models (replication...
This paper considers finite sample motivated inference methods in dynamic energy demand models, in which case commonly used econometric methods remain asymptotic. We focus on... -
Estimating market power in a two-sided market: The case of newspapers (replic...
The newspaper industry is a two-sided market: the readers market and the advertising market are closely linked by inter-market network externalities. We estimate market power in... -
Efficiency of the California electricity reserves market (replication data)
We test the efficiency of the California electricity reserves market by examining systematic differences between its day- and hour-ahead prices. We uncover significant day-ahead... -
Permanent and transitory wages of British men, 1975–2001: year, age and cohor...
We examine the mean and variance-covariance structure of log-wages over calendar time and the life cycle of British men, hereby controlling for birth cohort effects. We... -
Growth, technological interdependence and spatial externalities: theory and e...
This paper presents a theoretical growth model which explicitly takes into account technological interdependence among economies and examines the impact of spillover effects....
