DEMOGRAPHIC TRANSITION IN EUROPE

Using panel cointegration analysis, we show that a cointegration relationship exists among fertility choice, infant mortality, real wages and real per capita output. The results suggest that in low mortality economies reductions in infant mortality will decrease fertility.

Sebuah pengujian terhadap hubungan kausalitas antara belanja pemerintah dan pendapatan pemerintah: Sebuah analisis kointegrasi

This paper test the validity of the proposition that there is a causal relationship between government expenditure and government reveneu for Greece over the period 1957-1993. The empirical analysis employs tests of cointegration as pre-test for Granger test of causality. The empirical evidence suggest that there is a long run relationship between expenditure and revenue  and ecpenditures cause revenue

The public sector pay gap in a selection of Euro area countries

We investigate the public-private wage differentials in ten euro area countries (Austria, Belgium, France, Germany, Greece, Ireland, Italy, Portugal, Slovenia and Spain). To account for differences in employment characteristics between the two sectors, we focus on micro data taken from EU-SILC. The results point to a conditional pay differential in favour of the public sector that is generally higher for women, at the low tail of the wage distribution, in the Education and the Public administration sectors rather than in the Health sector. Notable differences emerge across countries, with Greece, Ireland, Italy, Portugal and Spain exhibiting higher public sector premia than other countries. JEL Classification: J310, J450, O520public/private sector, Wage differentials

Unemployment in Greece: Evidence from Greek regions using panel unit root tests

The purpose of the paper is to examine the nature of Greek regional unemployment. The paper contributes to the literature assessing the stochastic properties of Greek unemployment rate in the context of the Greek regions by relying on various univariate and panel unit root tests. In particular, recently developed and more powerful panel unit-root tests that control for structural breaks, heterogeneity and cross-sectional dependence in the panel are employed. The results show that in all cases, after taking into account the fact that regional unemployment rates in Greece are subject to a structural break, the null hypothesis of a unit root is not rejected, indicating that the Greek regional unemployment series are non-stationary with the presence of a structural break

Unemployment by Gender: Evidence from EU Countries

This paper applies panel unit-root tests that allow for structural breaks and cross-sectional dependence to examine the validity of hysteresis in gender unemployment rates and gender unemployment gap for a panel of 15 European countries. Addressing breaks, there is evidence to reject the null hypothesis of hysteresis for the unemployment rates and unemployment gap series. Allowing for both cross-sectional dependence and heterogeneous structural breaks this result is reverted and we fail to reject the null hypothesis of unit root

The saving-investment relationship in periods of structural change: The case of Greece

Purpose – To study the dynamic relationship between saving-investment in Greece during a period of structural changes with policy regime changes employing different methods of estimation. Design/methodology/approach – Different empirical methods are used to estimate the time varying savings retention coefficient. A recursive OLS, rolling OLS, Kalman filter estimator and Markov switching regime modeling (MS-R) are applied which have the advantage to capture the dependence structure of the series both in terms of constant and variance. Findings – The empirical evidence suggests that the degree of correlation between saving and investment weakens during financial liberalization periods. Practical implications – Conclusions drawn from this analysis could be useful for the analysis of other medium-sized economies. Originality/value – The paper employs four different estimation models to test the stability of the estimated coefficient. The MS-R is used, for the first time, to take into account the policy regime changes during the estimation period.Economic change, Estimation, Greece, Savings