发布求助
文献互助 智能选刊 最新文献

Empirical Economics最新文献

筛选
英文 中文
Reasons for college major-job mismatch and subsequent job mobility and earnings growth 大学专业与工作不匹配的原因以及随后的工作流动性和收入增长
IF 3.2 4区 经济学
Empirical Economics Pub Date : 2024-03-19 DOI: 10.1007/s00181-024-02578-z
Shengjun Jiang
{"title":"Reasons for college major-job mismatch and subsequent job mobility and earnings growth","authors":"Shengjun Jiang","doi":"10.1007/s00181-024-02578-z","DOIUrl":"https://doi.org/10.1007/s00181-024-02578-z","url":null,"abstract":"<p>This study examines the heterogeneity in job mobility and earnings growth among workers who were mismatched in their previous jobs due to different reasons. Mismatched is defined as working in jobs that are not related to the highest degree field. Using a panel dataset derived from the National Survey of College Graduates, I find that workers who were previously mismatched due to the unavailability of jobs in related fields (demand-mismatched) are more likely to make complex moves, i.e., changing both employer and job title, and experience higher earnings growth relative to their matched counterparts. The earnings growth among previously matched workers and workers who were mismatched due to other reasons, such as a change in career interests (supply-mismatched), is generally not significantly different. However, supply-mismatched workers encounter negative earnings growth after making simple moves, i.e., changing only employer. Further, heterogeneous earnings growth patterns are found among mismatched workers in different stages of career and between female and male mismatched workers.</p>","PeriodicalId":11642,"journal":{"name":"Empirical Economics","volume":"31 1","pages":""},"PeriodicalIF":3.2,"publicationDate":"2024-03-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140204805","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Global liquidity spillovers in the Asia–Pacific region: policy-driven versus market-driven effects 亚太地区的全球流动性溢出效应：政策驱动效应与市场驱动效应
IF 3.2 4区 经济学
Empirical Economics Pub Date : 2024-03-15 DOI: 10.1007/s00181-024-02573-4
Chau Le, Huyen Nguyen, Duc Vo
{"title":"Global liquidity spillovers in the Asia–Pacific region: policy-driven versus market-driven effects","authors":"Chau Le, Huyen Nguyen, Duc Vo","doi":"10.1007/s00181-024-02573-4","DOIUrl":"https://doi.org/10.1007/s00181-024-02573-4","url":null,"abstract":"<p>This research investigates the spillovers of global liquidity to Asia–Pacific countries, focusing on the contradictory effects of policy-driven liquidity created by monetary stances in advanced economies and market-driven liquidity generated by the private banking sector. Our findings stand in sharp contrast to previous studies, showing that shifts in macro-financial indicators in Asia–Pacific economies are predominantly influenced by market-driven shocks rather than those of policy-driven liquidity. Specifically, liquidity shocks associated with surges in cross-border credit flows, especially those denominated in US dollars, drive up asset prices and have boosting effects on inflation and economic output. A positive shock to market liquidity also results in an appreciation pressure on domestic currencies and a short-term rise in interest rates. However, excess liquidity shocks caused by the Bank of Japan’s adjustments in shadow short rates and balance sheets have a negative effect on inflation and bring about temporary depreciation pressure on Asian currencies. Surprisingly, we find that Asian responses to financial easing associated with the Fed’s monetary policy change are not well-pronounced.</p>","PeriodicalId":11642,"journal":{"name":"Empirical Economics","volume":"31 1","pages":""},"PeriodicalIF":3.2,"publicationDate":"2024-03-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140148916","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
A joint test of predictability and structural break in predictive regressions 预测性回归中的可预测性和结构断裂联合检验
IF 3.2 4区 经济学
Empirical Economics Pub Date : 2024-03-05 DOI: 10.1007/s00181-024-02572-5
{"title":"A joint test of predictability and structural break in predictive regressions","authors":"","doi":"10.1007/s00181-024-02572-5","DOIUrl":"https://doi.org/10.1007/s00181-024-02572-5","url":null,"abstract":"<h3>Abstract</h3> <p>This paper explores a joint test of predictability and one-time structural break, both of which are assumed to be absent under the null hypothesis. The test combines IVX estimator with a sup-Wald-type statistic. The limiting distribution of the test statistic is expected to be non-pivotal under (near-)integration. Nevertheless, for univariate cases, the distribution is highly insensitive to the variation of unestimable nuisance parameter. We hence propose to use critical values from the pivotal distribution derived under stationarity for empirical study. Simulation results suggest that this approach delivers satisfactory and robust inference in finite sample. An empirical application to the predictability of US stock returns is provided.</p>","PeriodicalId":11642,"journal":{"name":"Empirical Economics","volume":"35 1","pages":""},"PeriodicalIF":3.2,"publicationDate":"2024-03-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140035705","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
A real-time regional accounts database for Germany with applications to GDP revisions and nowcasting 德国实时地区账户数据库，应用于国内生产总值修正和预测
IF 3.2 4区 经济学
Empirical Economics Pub Date : 2024-03-05 DOI: 10.1007/s00181-024-02566-3
{"title":"A real-time regional accounts database for Germany with applications to GDP revisions and nowcasting","authors":"","doi":"10.1007/s00181-024-02566-3","DOIUrl":"https://doi.org/10.1007/s00181-024-02566-3","url":null,"abstract":"<h3>Abstract</h3> <p>Accurate real-time macroeconomic data are essential for policy-making and economic nowcasting. The rising interest in analyses at the sub-national level cannot be served as such data are currently not available. In this paper, I introduce a real-time database for German regional economic accounts. The database contains real-time information for nine macroeconomic aggregates and the 16 German states. I conduct both a revision analysis and a nowcasting experiment for real gross domestic product. By pooling the states together, the first official estimates show no systematic revision errors. The pooling, however, suppresses the revision characteristics of single states. For half of the 16 German states I find that the first estimates are no optimal predictions, thus, leaving room for improvements in the future. The real-time nowcasts for real gross domestic product growth based on a mixed-frequency vector autoregression are very accurate and beat several benchmark models. More regional data would help to better inform the model, thereby increasing its nowcast performance even further.</p>","PeriodicalId":11642,"journal":{"name":"Empirical Economics","volume":"32 1","pages":""},"PeriodicalIF":3.2,"publicationDate":"2024-03-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140035824","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Evidence of non-fundamentalness in OECD capital stocks 经合组织资本存量的非基本面证据
IF 3.2 4区 经济学
Empirical Economics Pub Date : 2024-03-02 DOI: 10.1007/s00181-024-02564-5
Antonio Aguirre, Ignacio N. Lobato
{"title":"Evidence of non-fundamentalness in OECD capital stocks","authors":"Antonio Aguirre, Ignacio N. Lobato","doi":"10.1007/s00181-024-02564-5","DOIUrl":"https://doi.org/10.1007/s00181-024-02564-5","url":null,"abstract":"<p>This note examines evidence of non-fundamentalness in the rate of variation of annual per capita capital stock for OECD countries in the period 1955–2020. Leeper et al. (2013) proposed a theoretical model in which, due to agents performing fiscal foresight, this economic series could exhibit a non-fundamental behavior (in particular, a non-invertible moving average component), which has important implications for modeling and forecasting. Using the methodology proposed in Velasco and Lobato (2018), which delivers consistent estimators of the autoregressive and moving average parameters without imposing fundamentalness assumptions, we empirically examine whether the capital data are better represented with an invertible or a non-invertible moving average model. We find strong evidence in favor of the non-invertible representation since for the countries that present significant innovation asymmetry, the selected model is predominantly non-invertible.</p>","PeriodicalId":11642,"journal":{"name":"Empirical Economics","volume":"259 1","pages":""},"PeriodicalIF":3.2,"publicationDate":"2024-03-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140016987","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Improved inference for interactive fixed effects model under cross-sectional dependence 横截面依赖性下互动固定效应模型的改进推断
IF 3.2 4区 经济学
Empirical Economics Pub Date : 2024-03-02 DOI: 10.1007/s00181-024-02569-0
Zhenhao Gong, Min Seong Kim
{"title":"Improved inference for interactive fixed effects model under cross-sectional dependence","authors":"Zhenhao Gong, Min Seong Kim","doi":"10.1007/s00181-024-02569-0","DOIUrl":"https://doi.org/10.1007/s00181-024-02569-0","url":null,"abstract":"<p>This paper proposes an inference procedure for the interactive fixed effects model that is valid in the presence of cross-sectional dependence. When the error terms are cross-sectionally dependent, the least square (LS) estimator of this model is asymptotically biased and therefore the associated confidence interval tends to have a large coverage error. To address this, we propose a bias correction of the LS estimator and a cross-sectional dependence robust variance estimator to construct associated test statistics. The paper also discusses practical issues in implementing the proposed method, including the construction of distance that reflects the decaying pattern of cross-sectional dependence and the selection of the bandwidth parameters. Monte Carlo simulations show our procedure works well in finite samples. As empirical illustrations, we apply our procedure to study the effect of divorce law reforms on divorce rates and the impact of clean water and sewerage interventions on child mortality.</p>","PeriodicalId":11642,"journal":{"name":"Empirical Economics","volume":"22 1","pages":""},"PeriodicalIF":3.2,"publicationDate":"2024-03-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140016992","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
An empirical assessment of effectiveness of the US tobacco control policies: a smoothed instrumental variables quantile regression approach 美国烟草控制政策有效性的实证评估：平滑工具变量量化回归法
IF 3.2 4区 经济学
Empirical Economics Pub Date : 2024-03-01 DOI: 10.1007/s00181-024-02562-7
Vardges Hovhannisyan, Vahé Heboyan, Magdana Kondaridze
{"title":"An empirical assessment of effectiveness of the US tobacco control policies: a smoothed instrumental variables quantile regression approach","authors":"Vardges Hovhannisyan, Vahé Heboyan, Magdana Kondaridze","doi":"10.1007/s00181-024-02562-7","DOIUrl":"https://doi.org/10.1007/s00181-024-02562-7","url":null,"abstract":"<p>A sound understanding of the potency of tobacco control policies is key to tobacco prevention. This study exploits a Smoothed Instrumental Variables Quantile Regression estimator to gauge the effectiveness of these policies while addressing major methodological and data limitations plaguing the previous literature. Specifically, smoke-free indoor air laws and tobacco control expenditures are examined in a single framework, which has the promise of accounting for potential complementarities thereof. Further, endogeneity of price (a proxy for tax policy) and other tobacco control policies is addressed through a unique set of instruments while allowing for differential impacts across the conditional distribution of cigarette consumption. Finally, our use of the nationally representative individual-level price and consumption data is essential to precise estimation of price elasticities and policy effects. Results indicate that ignoring price and policy endogeneity leads to inconsistent estimates. Further, tobacco control expenditures appear to be effective only for relatively more addicted smokers. Meanwhile, state-level smoke-free indoor laws, whose primary goal is to reduce exposure to second-hand smoke, do not affect cigarette use among smokers. In contrast, tax policy appears to be most potent for less addicted individuals. Therefore, optimal policy responses should combine tobacco control expenditures with sin taxes.</p>","PeriodicalId":11642,"journal":{"name":"Empirical Economics","volume":"22 1","pages":""},"PeriodicalIF":3.2,"publicationDate":"2024-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140016986","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Which financial inclusion indicators and dimensions matter for income inequality? A Bayesian model averaging approach 哪些金融包容性指标和维度与收入不平等有关？贝叶斯模型平均法
IF 3.2 4区 经济学
Empirical Economics Pub Date : 2024-02-23 DOI: 10.1007/s00181-024-02559-2
{"title":"Which financial inclusion indicators and dimensions matter for income inequality? A Bayesian model averaging approach","authors":"","doi":"10.1007/s00181-024-02559-2","DOIUrl":"https://doi.org/10.1007/s00181-024-02559-2","url":null,"abstract":"<h3>Abstract</h3> <p>This paper employs Bayesian model averaging (BMA) and uses posterior inclusion probability (PIP) values to evaluate which financial inclusion indicators, dimensions, and other determinants of income inequality should be considered in an empirical specification assessing the relationship between financial inclusion and income inequality, given model uncertainty. The results show that for the lower income country group, financial access and usage indicators are the most relevant financial inclusion indicators. For financial inclusion dimension, we find evidence on the importance of financial access. However, the results for upper income country group are different, suggesting the need to differentiate between the two groups in assessing the importance of financial inclusion on income inequality. These results suggest that theoretical models linking financial inclusion and income inequality could well focus on the role of financial access by providing theoretical foundations on the mechanics as to how this dimension of financial inclusion impact income inequality particularly for lower income countries.</p>","PeriodicalId":11642,"journal":{"name":"Empirical Economics","volume":"11 1","pages":""},"PeriodicalIF":3.2,"publicationDate":"2024-02-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139949678","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Contagious protests 有传染性的抗议
IF 3.2 4区 经济学
Empirical Economics Pub Date : 2024-02-23 DOI: 10.1007/s00181-023-02539-y
Rabah Arezki, Alou Adesse Dama, Simeon Djankov, Ha Nguyen
{"title":"Contagious protests","authors":"Rabah Arezki, Alou Adesse Dama, Simeon Djankov, Ha Nguyen","doi":"10.1007/s00181-023-02539-y","DOIUrl":"https://doi.org/10.1007/s00181-023-02539-y","url":null,"abstract":"<p>This paper explores the spillover of protests across countries using data on nonviolent and spontaneous demonstrations for 200 countries from 2000 to 2020. Using an autoregressive spatial model, the analysis finds strong evidence of “contagious protests,” with a catalyzing role of social media. In particular, social media penetration in the source and destination of protests leads to protest spillovers between countries. There is evidence of parallel learning between streets of nations alongside the already documented learning between governments.</p>","PeriodicalId":11642,"journal":{"name":"Empirical Economics","volume":"36 1","pages":""},"PeriodicalIF":3.2,"publicationDate":"2024-02-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139949740","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
A mixed-frequency VAR application to studying joint dynamics of foreign investor trading and stock market returns 应用混合频率 VAR 研究外国投资者交易和股市回报的共同动态性
IF 3.2 4区 经济学
Empirical Economics Pub Date : 2024-02-20 DOI: 10.1007/s00181-023-02541-4
Burak Alparslan Eroğlu, Deniz İkizlerli, Numan Ülkü
{"title":"A mixed-frequency VAR application to studying joint dynamics of foreign investor trading and stock market returns","authors":"Burak Alparslan Eroğlu, Deniz İkizlerli, Numan Ülkü","doi":"10.1007/s00181-023-02541-4","DOIUrl":"https://doi.org/10.1007/s00181-023-02541-4","url":null,"abstract":"<p>We present the first application of the mixed-frequency VAR (MF-VAR) method in the market microstructure literature, studying the interaction between stock market returns and foreign investors’ trading. MF-VAR allows us to use daily investor trading data together with higher-frequency return series and uncover novel intraday patterns in the feedback trading behavior and the information content of trading. Using data from Korea, we find that foreign investors chase opening-hour returns, and their trading has the ability to forecast subsequent days' late-hour returns. This pattern suggests that foreign investors selectively respond to the information incorporated during opening hours. Over the years, foreign investors' response to intraday returns has become more prompt, and the predictive ability of their trading has disappeared. A specific test made feasible by the MF-VAR method does not support the global private information hypothesis.</p>","PeriodicalId":11642,"journal":{"name":"Empirical Economics","volume":"17 1","pages":""},"PeriodicalIF":3.2,"publicationDate":"2024-02-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139926934","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
首页 上一页 下一页 尾页
0
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整，为了账户安全，请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
现在去查看 取消
×
提示
确定
请完成安全验证×
相关产品
×
本文献相关产品
联系我们：info@booksci.cn Book学术提供免费学术资源搜索服务，方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号：481959085
Book学术官方微信