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Export-Led Growth in Chile: Assessing the Role of Export Composition in Productivity Growth

This study examines the export-led growth hypothesis using annual time-series data from Chile in a production function framework. It addresses the limitations of the existing literature and focuses on the impact of manufactured and primary exports on productivity growth. In order to investigate if and how manufactured and primary exports affect economic growth via increases in productivity, several ...

On the Estimation and Forecasting of International Migration: How Relevant is Heterogeneity across Countries?

This paper performs a comparative analysis of estimation as well as of out-of-sample forecasting results of more than 20 estimators common in the panel data literature using the data on migration to Germany from 18 source countries in the period 1967-2001. Our results suggest that the choice of an estimation procedure has a substantial impact on the parameter estimates of the migration function. Out-of-sample ...

Manufacturing Exports, Mining Exports and Growth: Cointegration and Causality Analysis for Chile (1960 -2001)

This study examines the export-led growth hypothesis using annual time series data from Chile in a production function framework. It addresses the problem of specification bias under which previous studies have suffered, and focuses on the impact of manufactured and mining exports on productivity growth. In order to investigate if and how manufactured and mining exports affect economic growth via increases ...

Multicointegration in US Consumption Data

The present study tests for the existence of multicointegration between real per capita private consumption expenditure and real per capita disposable personal income in the USA. In doing so, the study exploits the fact that the flows of disposable income and consumption expenditure on the one hand, and the stock of consumers' wealth, which can be considered as cumulative past discrepancies between ...

Export-Led Growth Hypothesis: Evidence for Chile

This study examines the export-led growth hypothesis using annual time series data from Chile. It addresses the problem of specification bias under which previous studies have suffered and focuses on the impact of manufactured and primary exports on the economic growth. In order to investigate if and how manufactured and primary exports affect economic growth via increases in productivity, the study ...

A Macroeconometric Model for the Euro Economy

In this paper a structural macroeconometric model for the Euro area is presented. In contrast to the multi-country modelling approach, the model relies on aggregate data on the supra-national level. Due to non-stationarity, all equations are estimated in error correction form. The cointegrating relations are derived jointly with the short-run dynamics, avoiding the finite sample bias of the two-step ...

Thresholds for Employment and Unemployment: A Spatial Analysis of German Regional Labour Markets, 1992-2000

This paper applies Verdoorn's and Okun's law to derive efficient estimates of the employment and unemployment threshold in the Unified Germany. The analysis is built on a disaggregated dataset of regional labour markets, where spatial dependencies are taken into account. Especially, a spatial SUR model is proposed utilising the eigenfunction decomposition approach suggested by Griffith (1996, 2000). ...

Regional Productivity and Income Convergence in the Unified Germany, 1992 - 2000

This paper investigates regional convergence of labour productivity and income per capita in the period 1992-2000 for the unified Germany using spatial econometric techniques. Up to now only first-order spatial models have been employed in investigating convergence across regions and countries. An exploratory data analysis reveals, however, that the fundamental variables of the convergence equation ...

Consumption and Disposable Income in the EU Countries: The Role of Wealth Effects

Uncertainty Determinants of Corporate Liquidity