Labour-market analysis places much emphasis on the concept of search. But there is insufficient empirical information on (a) the relationship between reported job-search and job-finding and (b) how search behaviour changes over a spell without work. We investigate these issues using a sample constructed from Hungarian labour-force survey panel data of the flow from jobs to the state of “joblessness”. The results on job exits call into question aspects of the standard international classification of “unemployment”and being “out of the labour force”. Transitions during joblessness in and out of search and among the various categories of non-search are found to be only modest.
Authors:Štefan Bojnec, Imre Fertő, Attila Jámbor, and József Tóth
Technical efficiency in agriculture of 10 new EU member states is analysed by Data Envelopment Analysis and econometric panel data analysis. Technical efficiency in agriculture is significantly positively associated with agricultural factor endowments, average farm size, farm specialisation, small-scale farms, and technological change. Foreign direct investments have an ambiguous effect. Reform and institutional developments, large-scale privatisation and price liberalisation, and urban- rural income gap are associated with technical efficiency in agriculture positively. An increase in technical efficiency in agriculture and the development of the rural economy are seen as a strategy to boost the level of living standards in agriculture and in rural areas.
This paper tests new implications of the asymmetric tax competition model on diesel excise taxes. We extend the standard tax competition model by replacing the unit demand assumption with iso-elastic demand. As a result, not only the level of the equilibrium tax, but also the slope of the tax reaction function depends positively on the size of the country. The new implication is tested on panel data in first differences for 16 countries of Western Europe. The results provide strong evidence for strategic interaction in the setting of diesel excises and confirm the effect of country size on the response to tax changes in neighbouring countries. Strategic interaction between EU countries intensified in the mid-1990s and drove small European countries to set lower diesel tax rates. These results explain why the EU’s minimum tax policy has failed to harmonise diesel tax rates.
This research paper aims to provide an empirical validation of the impact of human capital accumulation and labour market institutions on productivity growth. The primary objective of this study is to analyse economic and employment growth tendencies in the period between 1985 and 2007 in various OECD member countries. In our estimations we followed a specific taxonomy to identify the features of output per capita growth in different labour-skilled branches. Besides determining the sectoral differences of labour demand by standard comparative statistics, we used a dynamic panel regression method to investigate the relationships between employment, human capital, labour institutions, and output per capita. We conclude that the high-skilled branches have achieved better economic growth performance than the lower-skilled ones in most of the OECD countries. Analysing the time series panel data of these countries our results also yield valid relationships between the level of education, labour unions and productivity growth in different branches.
CPB Working Paper
Ederveen, S. — Groot, H. de — Nahuis, R. (2006): Fertile soil for structural funds? A paneldata analysis of the conditional effectiveness of European Cohesion Policy.
Authors:Habibollah Nakhaei, Nik Intan Norhan Hamid, Melati Ahmad Anuar, and Karim Nakhaei
The paper tests the hypothesis on whether refined economic value added (REVA) is highly associated with stock return compared to traditional performance measures. The goal of the study is to provide empirical evidence on the relative and incremental information content of REVA and traditional performance measures, such as net income (NI), net operational profit after tax (NOPAT), and earning per share (EPS). The study involves 395 non-financial companies listed in Bursa Malaysia over the period of 2002–2011. Pearson correlation coefficient and panel data single and multiple regression models were employed to analyze the data. The empirical results indicate that the relative information content of the REVA was not greater than that of NI and NOPAT to explain stock returns. NI and NOPAT were highly correlated with stock return compared to REVA. Additionally, the incremental information content test indicated that REVA makes some additional contribution to information content beyond the NI, NOPAT, and EPS. Finally, the panel multiple regression models showed that there was a strong relationship between NI, NOPAT, and REVA with stock return, but there was no meaningful association between EPS and stock returns. Overall, the results do not support the hypothesis that REVA can be considered superior to traditional accounting measures in association with stock returns.
Hoshi, T., Kashyap, A. and Scharfstein, D. (1991): Corporate Structure and Investment: Evidence from Japanese PanelData. Quarterly Journal of Economics , 105: 1, pp. 33-60.
Corporate Structure and Investment: Evidence from