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Language training for unemployed non-natives: who benefits the most? 针对失业非本地人的语言培训:谁受益最大?
IF 1.1 3区 经济学
Baltic Journal of Economics Pub Date : 2020-01-02 DOI: 10.1080/1406099X.2020.1740403
Laura Helena Kivi, Marko Sõmer, E. Kallaste
{"title":"Language training for unemployed non-natives: who benefits the most?","authors":"Laura Helena Kivi, Marko Sõmer, E. Kallaste","doi":"10.1080/1406099X.2020.1740403","DOIUrl":"https://doi.org/10.1080/1406099X.2020.1740403","url":null,"abstract":"ABSTRACT This study evaluates the local language training aimed at the unemployed in Estonia during 2015–2016. The impact of training on employment probability and labour income is estimated by combining propensity score matching with coarsened exact matching. The impact on the probability of being employed is found to be positive after the end of the lock-in effect. Two years after the start of the language training the effect is around 8 pp. The initial lock-in effect is smaller for more flexible and shorter courses, for those with lower initial level of language skills and for those living outside of the capital region. The long-term effect is higher for those with lower level of initial language skills and does not differ by the course type or region. The results indicate that the local language training helps the unemployed non-natives to find employment, but does not give them access to higher-paying positions.","PeriodicalId":43756,"journal":{"name":"Baltic Journal of Economics","volume":"20 1","pages":"34 - 58"},"PeriodicalIF":1.1,"publicationDate":"2020-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/1406099X.2020.1740403","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48532391","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"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: 3
Debt literacy and debt advice-seeking behaviour among Facebook users: the role of social networks 脸书用户的债务素养和寻求债务建议行为：社交网络的作用
IF 1.1 3区 经济学
Baltic Journal of Economics Pub Date : 2020-01-02 DOI: 10.1080/1406099X.2019.1693142
A. Cwynar, W. Cwynar, M. Kowerski, Kamil Filipek, Przemysław Szuba
{"title":"Debt literacy and debt advice-seeking behaviour among Facebook users: the role of social networks","authors":"A. Cwynar, W. Cwynar, M. Kowerski, Kamil Filipek, Przemysław Szuba","doi":"10.1080/1406099X.2019.1693142","DOIUrl":"https://doi.org/10.1080/1406099X.2019.1693142","url":null,"abstract":"ABSTRACT Professional advice can be perceived as a means to tackle shortcomings in the objectively measured financial literacy of consumers. However, most studies suggest that less financially literate individuals are less likely to seek experts’ financial advice. At the same time, it has been shown that financial confidence – or subjectively perceived financial literacy – is positively correlated with the propensity to request such professional advice. This study examines these puzzling effects in a sample of 1,055 Facebook users in Poland, and within an analytical framework that allows control of the potential endogeneity of financial literacy to professional advice. A series of regressions applied to the results of our survey showed that objective debt literacy – a little-studied aspect of financial literacy – was insignificant in explaining advice-seeking behaviour, although the decisions to ask for advice were positively dependent on subjective debt literacy. Such outcomes prove that subjective financial literacy should be treated as a separate construct which can predict financial behaviour above and beyond predictions based on objective financial literacy. Our findings also suggest a positive role for social networks in inducing desired financial actions. We found that respondents having access to greater resources embedded in their social networks are more inclined to seek professional debt advice.","PeriodicalId":43756,"journal":{"name":"Baltic Journal of Economics","volume":"20 1","pages":"1 - 33"},"PeriodicalIF":1.1,"publicationDate":"2020-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/1406099X.2019.1693142","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45604429","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"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: 10
Can inaction account for the incomplete exchange rate pass-through? Evidence from threshold ARDL model 不作为能解释不完全汇率吗？来自阈值ARDL模型的证据
IF 1.1 3区 经济学
Baltic Journal of Economics Pub Date : 2019-07-03 DOI: 10.1080/1406099X.2019.1654223
Karolina Konopczak
{"title":"Can inaction account for the incomplete exchange rate pass-through? Evidence from threshold ARDL model","authors":"Karolina Konopczak","doi":"10.1080/1406099X.2019.1654223","DOIUrl":"https://doi.org/10.1080/1406099X.2019.1654223","url":null,"abstract":"ABSTRACT Numerous empirical studies suggest that the responses of prices to exchange rate movements are muted, i.e. the exchange rate pass-through is incomplete. In this study we investigate whether this result can be explained by inaction to small changes in the exchange rate, in which case the incompleteness would constitute merely an artefact introduced by the linear specification of the pass-through equation. The results obtained for Polish industry show significant sign- and size-dependence in the sensitivity of export prices to exchange rate movements, but only in a few cases they fully account for the incompleteness of the pass-through. The tendency for inaction is to a large extent determined by industry’s characteristics, with sectors more technologically advanced and more involved in international activities, more willing or able to absorb exchange rate movements in their markups, thereby stabilizing their prices in the destination markets.","PeriodicalId":43756,"journal":{"name":"Baltic Journal of Economics","volume":"19 1","pages":"276 - 295"},"PeriodicalIF":1.1,"publicationDate":"2019-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/1406099X.2019.1654223","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42847413","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"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: 2
Firm productivity, heterogeneity and macroeconomic dynamics: a data-driven investigation 企业生产率、异质性和宏观经济动态:一项数据驱动的调查
IF 1.1 3区 经济学
Baltic Journal of Economics Pub Date : 2019-07-03 DOI: 10.1080/1406099X.2019.1633897
Mihnea Constantinescu, Aurelija Proškutė
{"title":"Firm productivity, heterogeneity and macroeconomic dynamics: a data-driven investigation","authors":"Mihnea Constantinescu, Aurelija Proškutė","doi":"10.1080/1406099X.2019.1633897","DOIUrl":"https://doi.org/10.1080/1406099X.2019.1633897","url":null,"abstract":"ABSTRACT In this paper, we offer a unique firm-level view of the empirical regularities underlying the evolution of the Lithuanian economy over the period of 2000–2014. Employing a novel dataset, we investigate key distributional moments of real and financial variables of Lithuanian firms. We focus in particular on the issues related to productivity, firm birth and death and the associated employment creation and destruction across firm sizes, industry classification and trade status (exporting vs. non-exporting). We refrain from any structural modelling attempt in order to map out the key economic processes across industries and selected firm characteristics. Nevertheless, existing theoretical and empirical findings guide our analysis and the selection of the main variables to investigate. We uncover similar regularities as already highlighted in the literature: trade participation and firm productivity are strongly positively linked, the 2008 recession has had a cleansing effect on the non-tradable sector, firm birth (death) is highly pro(counter)-cyclical. The richness of the dataset allows us to produce additional insights: for example, we observe an increasing share of exporting but a constant share of importing firms since 2000.","PeriodicalId":43756,"journal":{"name":"Baltic Journal of Economics","volume":"19 1","pages":"216 - 247"},"PeriodicalIF":1.1,"publicationDate":"2019-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/1406099X.2019.1633897","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45482414","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"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: 1
What drives business cycle synchronization? BMA results from the European Union 是什么推动了业务周期同步？欧盟BMA结果
IF 1.1 3区 经济学
Baltic Journal of Economics Pub Date : 2019-07-03 DOI: 10.1080/1406099X.2019.1652393
K. Beck
{"title":"What drives business cycle synchronization? BMA results from the European Union","authors":"K. Beck","doi":"10.1080/1406099X.2019.1652393","DOIUrl":"https://doi.org/10.1080/1406099X.2019.1652393","url":null,"abstract":"ABSTRACT The last twenty years have brought a bulk of inconsistent results on the determinants of business cycle synchronization (BCS). Researchers have usually focused their attention on a limited set of possible determinants, not accounting for model uncertainty. For these reasons, Bayesian Model Averaging has been applied in this paper to the dataset with 43 potential determinants of BCS for the EU. There is strong evidence to claim that migration, exchange rate variability, similarity of production structures, TFP shocks, similarity in exchange rate policy, intra-industry trade, risk sharing, and capital mobility are robust determinants of BCS. Some well-established determinants such as bilateral trade, monetary policy similarity, gravity variables, and participation in a monetary union and free trade area have turned out to be fragile. The structure of trade is more important for BCS than its magnitude, as intra-industry trade and structural similarity are taking explanatory power away from the bilateral trade.","PeriodicalId":43756,"journal":{"name":"Baltic Journal of Economics","volume":"19 1","pages":"248 - 275"},"PeriodicalIF":1.1,"publicationDate":"2019-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/1406099X.2019.1652393","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45282678","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"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: 27
Bank credit and money creation in a DSGE model of a small open economy 小型开放经济DSGE模型中的银行信贷和货币创造
IF 1.1 3区 经济学
Baltic Journal of Economics Pub Date : 2019-07-03 DOI: 10.1080/1406099X.2019.1640958
Jaunius Karmelavičius, Tomas Ramanauskas
{"title":"Bank credit and money creation in a DSGE model of a small open economy","authors":"Jaunius Karmelavičius, Tomas Ramanauskas","doi":"10.1080/1406099X.2019.1640958","DOIUrl":"https://doi.org/10.1080/1406099X.2019.1640958","url":null,"abstract":"ABSTRACT By the act of lending banks do not actually intermediate pre-accumulated real resources but rather create new financial resources in the form of deposits. Therefore, bank credit needs to be modelled as a monetary phenomenon, which directly fuels domestic demand and inflationary pressures. So far, there have been just a few attempts to model banks as monetary institutions in the DSGE model. In this paper we propose a simple DSGE model, which nevertheless accommodates banks as genuinely monetary institutions and captures banks' institutional ability to create money. Our model features a small open economy with nominal prices, savers and borrowers and a banking sector. Following an exogenously induced shock to banker's willingness to lend, the bank does not have to raise deposit rates or significantly increase borrowing from abroad as deposit dynamics closely resembles that of credit, which allows us to analyse real and nominal consequences of bank credit (and money) creation.","PeriodicalId":43756,"journal":{"name":"Baltic Journal of Economics","volume":"19 1","pages":"296 - 333"},"PeriodicalIF":1.1,"publicationDate":"2019-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/1406099X.2019.1640958","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42273390","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"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: 7
Private rental housing market underdevelopment: life cycle model simulations for Poland 欠发达的私人租赁住房市场:波兰的生命周期模型模拟
IF 1.1 3区 经济学
Baltic Journal of Economics Pub Date : 2019-07-03 DOI: 10.1080/1406099X.2019.1679558
Micha l Rubaszek
{"title":"Private rental housing market underdevelopment: life cycle model simulations for Poland","authors":"Micha l Rubaszek","doi":"10.1080/1406099X.2019.1679558","DOIUrl":"https://doi.org/10.1080/1406099X.2019.1679558","url":null,"abstract":"ABSTRACT The share of the private rental housing market in Central and Eastern European countries is low. With a survey data from Poland, I show that strong tenure preferences of households toward owning can be attributed to both economic and psychological factors. Building on these findings, I develop a life cycle model and I conduct counterfactual simulations to evaluate how changes in the structure of the rental market affect its size. I show that in the alternative scenario, which assumes (i) a change in the quality of rental services, (ii) lowering rental prices and (iii) diminishing fiscal incentives to own, the size of the private rental market is significantly higher, which leads to welfare gains for poor households.","PeriodicalId":43756,"journal":{"name":"Baltic Journal of Economics","volume":"19 1","pages":"334 - 358"},"PeriodicalIF":1.1,"publicationDate":"2019-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/1406099X.2019.1679558","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48415662","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"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: 3
The effectiveness of fiscal policy within business cycle – Ricardians vs. non-Ricardians approach 经济周期内财政政策的有效性——李嘉图学派与非李嘉图学派方法
IF 1.1 3区 经济学
Baltic Journal of Economics Pub Date : 2019-05-02 DOI: 10.1080/1406099X.2019.1609228
P. Krajewski, Agata Szymańska
{"title":"The effectiveness of fiscal policy within business cycle – Ricardians vs. non-Ricardians approach","authors":"P. Krajewski, Agata Szymańska","doi":"10.1080/1406099X.2019.1609228","DOIUrl":"https://doi.org/10.1080/1406099X.2019.1609228","url":null,"abstract":"ABSTRACT This study aims to measure the impact of the share of non-Ricardian households on fiscal multipliers. We show that the share of non-Ricardian households in Hungary increased significantly after crisis began and explain why the plausible reason for this increase is the higher level of liquidity constraints during crisis. We also show that after crisis, when the share of non-Ricardians in Hungary was very high, the impact of government spending shocks on GDP was almost twice as strong as before the Great Recession. Thus, the results of the study indicate that there is some trade-off between the effectiveness of fiscal policy as a tool of GDP stabilization and household access to the credit market.","PeriodicalId":43756,"journal":{"name":"Baltic Journal of Economics","volume":"19 1","pages":"195 - 215"},"PeriodicalIF":1.1,"publicationDate":"2019-05-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/1406099X.2019.1609228","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42709811","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"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
Who cares? Evidence on informal and formal home care use in Estonia 谁在乎呢?爱沙尼亚非正式和正式家庭护理使用的证据
IF 1.1 3区 经济学
Baltic Journal of Economics Pub Date : 2019-01-02 DOI: 10.1080/1406099X.2019.1578478
I. Mozhaeva
{"title":"Who cares? Evidence on informal and formal home care use in Estonia","authors":"I. Mozhaeva","doi":"10.1080/1406099X.2019.1578478","DOIUrl":"https://doi.org/10.1080/1406099X.2019.1578478","url":null,"abstract":"ABSTRACT Despite increasing attention to long-term care (LTC) and related challenges in the Estonian social policy agenda, the distributional fairness of LTC services in the country has received very limited attention. Using SHARE data, we address informal and formal home care services and identify the socio-economic factors that drive or hinder their use among the Estonian elderly. The relationship between informal and formal home care utilization is estimated applying the new approach to instrumental variable method proposed by Lewbel [2012. Using heteroscedasticity to identify and estimate mismeasured and endogenous regressor models. Journal of Business and Economic Statistics, 30(1), 67–80]. We find that it is important to distinguish among informal care provided by household members, other relatives and non-relatives because the same socio-economic factors might differentially affect the propensity to use these kinds of care. The estimation results indicate that informal care provided by non-relatives complements formal home care. LTC policy in Estonia ensures the absence of tangible financial, ethnic and urban/rural barriers to the use of formal home care.","PeriodicalId":43756,"journal":{"name":"Baltic Journal of Economics","volume":"19 1","pages":"136 - 154"},"PeriodicalIF":1.1,"publicationDate":"2019-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/1406099X.2019.1578478","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48324404","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"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: 7
Wage dynamics and worker mobility during deep recessions 深度衰退期间的工资动态和工人流动性
IF 1.1 3区 经济学
Baltic Journal of Economics Pub Date : 2019-01-02 DOI: 10.1080/1406099X.2018.1556898
Anete Pajuste, H. Ruffo
{"title":"Wage dynamics and worker mobility during deep recessions","authors":"Anete Pajuste, H. Ruffo","doi":"10.1080/1406099X.2018.1556898","DOIUrl":"https://doi.org/10.1080/1406099X.2018.1556898","url":null,"abstract":"ABSTRACT We provide empirical evidence of the relationship between downward wage rigidity and unemployment volatility by comparing wage dynamics and worker mobility during the Great Recession in two countries where wages adjusted very differently: Latvia and Spain. Using a panel of social security administrative data, we find that wages in Spain were rigid even during periods of rising unemployment. In contrast, Latvian wages were reduced and wage cuts affected 60 percent of jobs. At the same time, the elasticity of workers' transition rates into and out of unemployment to productivity shocks was four times higher in Spain than in Latvia, and these responses were more persistent in Spain. This evidence is consistent with theoretical models that show that unemployment volatility is higher when wages are rigid.","PeriodicalId":43756,"journal":{"name":"Baltic Journal of Economics","volume":"19 1","pages":"52 - 83"},"PeriodicalIF":1.1,"publicationDate":"2019-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/1406099X.2018.1556898","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48444188","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"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: 2
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