Markups and fiscal transmission in a panel of OECD countries

Juessen, Falko; Linnemann, Ludger

doi:10.1016/j.jmacro.2012.05.005

Cited by 15 publications

(12 citation statements)

References 37 publications

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“…By employing a forward orthogonal deviations transformation so as to eliminate time-invariant individual fixed effects, lagged level variables can be thus used as instruments in GMM estimations (Love and Zicchino, 2006). However, GMM and extended GMM estimators are designed for the case of a large cross-sectional dimension ( N ) relative to the time dimension ( T ) and have been shown to perform poorly when T → ∞ and particularly when the ratio of the variance of the individual effects to the variance of the innovations increases (Juessen and Linnemann, 2012).…”

Section: Methodology: the Pchvar Specificationmentioning

confidence: 99%

The ambiguous role of remittances in West African countries facing climate variability

Couharde¹,

Generoso²

2014

Envir. Dev. Econ.

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We investigate the consequences of remittances inflows on the macroeconomic performance of West African countries over the 1985–2007 period. We take into account the exposure of those countries to climate variability by estimating a PCHVAR model which allows heterogeneity between countries’ responses to rainfall shocks. Our results show that the impact of remittances on macroeconomic performance is highly sensitive to those shocks. In particular, when drought conditions prevail, remittances no longer exert any short-term spillover effects on growth and may increase a situation of economic dependence, by spurring agricultural imports.

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Section: Methodology: the Pchvar Specificationmentioning

confidence: 99%

The ambiguous role of remittances in West African countries facing climate variability

Couharde¹,

Generoso²

2014

Envir. Dev. Econ.

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“…Given the sizes of the cross-sectional dimension N and the time dimension T of our panel data (N = 18 and T = 34), to remove the short-T dynamic panel data bias or the so-called Nickell (1981) bias, we employ the bias-corrected fixed-effects estimator developed by Hahn and Kuersteiner (2002). For example, Juessen and Linnemann (2012) applied this bias-correction in panel VAR frameworks.…”

Section: The Modelmentioning

confidence: 99%

Demographic changes and the labor income share

d’Albis

Boubtane

Coulibaly

2021

European Economic Review

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In this article, we study the impact of demographic changes on the inequality between capital and labor incomes. More precisely, we analyze the impact of exogenous changes in both the rate of natural increase and the net migration rate on labor income as a share of total income. We estimate a structural vector autoregression (VAR) model on a panel of 18 OECD countries with annual data for 1985-2018. We find that the response of the labor income share to an exogenous change in the rate of natural increase is significantly negative a few years after the shock, whereas its response to an exogenous change in the net migration rate is significantly positive. This suggests that in addition to the factors usually introduced in the literature, demographic factors play a role in the observed variation in the labor income share.

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“…Martins and Scarpetta [2002] use a di¤erent approach, closer to Industrial Organization (IO), but reach similar conclusions for a sample of industries in G5 countries. More recently, Juessen and Linnemann [2012] provide evidence of counter-cyclical markups for a panel of 19 OECD countries; Afonso and Costa [2013] …nd that markups are counter-cyclical with …scal shocks for 6 out of 14 OECD countries and procyclical for 4 of them; Nekarda and Ramey [2013] …nd either acyclic or pro-cyclical markups with demand shocks for US industries.…”

Section: Introductionmentioning

confidence: 99%

Demand, Supply and Markup Fluctuations

Santos¹,

Costa

Brito

2016

SSRN Journal

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The cyclical behavior of markups is at the center of macroeconomic debate on the origins of business-cycle ‡uctuations and policy e¤ectiveness. In theory, markups may ‡uctuate endogenously with the business cycle due to sluggish price adjustment or to deeper motives a¤ecting the price-elasticity of demand faced by individual producers. In this article we make use of a large …rm-and product-level panel of Portuguese manufacturing …rms in the 2004-2010 period. The biggest empirical challenge is to separate supply (TFP) from demand shocks. Our dataset allows to do so, by containing Financial support by FCT (Fundação para a Ciência e a Tecnologia), Portugal, is gratefully acknowledged. This article is part of the Strategic Project (UID/ECO/00436/2013), under the project Ref. UID/ECO/00124/2013 and by POR Lisboa under the project LISBOA-01-0145-FEDER-007722. Carlos Santos gratefully acknowledges FCT research fellowship CONT-DOUT/114/UECE/436/10692/1/2008 under the programme Ciência 2008. We would like to thank Vasco Matias and André Silva for their research assistance, and INE (Statistics Portugal), especially So…a Pacheco, M. Arminda Costa, and Carlos Coimbra, for their help with microdata. Comments and suggestions by How Dixon, Huiyu Li and by the participants at the 11th World Congress of the Econometric Society (Montréal), 30th Annual Congress of the European Economic Association (Mannheim), 8th Meeting of the Portuguese Economic Journal (Braga) and at at seminars in EIEF (Rome) and ISEG of ULisboa (Lisbon) are gratefully acknowledged. The usual disclaimer applies.

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Markups and fiscal transmission in a panel of OECD countries

Cited by 15 publications

References 37 publications

The ambiguous role of remittances in West African countries facing climate variability

The ambiguous role of remittances in West African countries facing climate variability

Demographic changes and the labor income share

Demand, Supply and Markup Fluctuations

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