The shocks in structural vector autoregressive (VAR) analysis are typically assumed to be instantaneously uncorrelated. This condition may easily be violated in proxy VAR models if more than one shock is identified by a proxy variable. Correlated shocks may be obtained even if the proxies are uncorrelated and satisfy the usual relevance and exogeneity conditions individually. Examples from the recent ...
Informal childcare care by grandparents, other relatives or friends is an important source of support in many Western countries, including Germany. Yet the role of this type of care is often overlooked in accounts of social policies supporting families with children, which tend to focus on formal childcare. This article examines whether the large formal childcare expansion occurring in Germany in the ...
High-growth firms (HGFs) are important for job creation and productivity growth. We investigate the relationship between product and labour market regulations, as well as the quality of regional governments that implement these regulations, and the development of HGFs across European regions. Using data from Eurostat, the Organisation for Economic Co-operation and Development (OECD), World Economic ...
Sustainable Finance Sustainable Finance
