Skills and wage inequality in Greece: evidence from matched employer-employee data, 1995-2002

This paper examines changes in the Greek wage distribution over 1995-2002 and the role of skills in these changes using a matched employer-employee data set. This data set enables us to account for firm heterogeneity and obtain a more refined picture of the impact of skills. The methodology adopted is the Machado-Mata decomposition technique, which separates the part of wage changes that is due to changes in the job/employer and employee characteristics from the part due to changes in the returns to these characteristics. Our results indicate that the role of skills has been decisive. The skill return effects in combination with the composition effects of tenure, which are arguably responsive to economic developments and market conditions, have had an important contribution to the changes in the Greek wage distribution. On the other hand, the impact of predetermined demographic changes, as those captured by the age and education composition effects, has been relatively milder. JEL Classification: J31quantile regression, Returns to skill, Wage inequality

Skills and wage inequality in Greece: evidence from matched employer-employee data, 1995-2002

This paper examines changes in the Greek wage distribution over 1995-2002 and the role of skills in these changes using a matched employer-employee data set. This data set enables us to account for firm heterogeneity and obtain a more refined picture of the impact of skills. The methodology adopted is the Machado-Mata decomposition technique, which separates the part of wage changes that is due to changes in the job/employer and employee characteristics from the part due to changes in the returns to these characteristics. Our results indicate that the role of skills has been decisive. The skill return effects in combination with the composition effects of tenure, which are arguably responsive to economic developments and market conditions, have had an important contribution to the changes in the Greek wage distribution. On the other hand, the impact of predetermined demographic changes, as those captured by the age and education composition effects, has been relatively milder.Returns to skill; Wage inequality; Quantile regression

Market power, innovative activity and exchange rate pass-through in the euro area

This paper examines exchange rate pass-through in the euro area by accounting for the impact of exchange rate changes on exporting firms’ market power, cost structure and competitiveness. An international oligopoly model where exporting firms simultaneously decide on their pricing and innovation strategies is used as the basis for the econometric analysis. The estimations are carried out on data for manufacturing imports of three large euro area countries (Germany, France, Netherlands) from three major non-euro area import suppliers (US, Japan, UK). The results show that exporting firms’ price and innovation decisions in each source country are jointly determined and that total pass-through to euro area import prices is low. There are also indications that other factors, such as interactions with domestic producers, may be important for the determination of pass-through. Finally, euro area import prices are found to be sticky in local currency in the short run. JEL Classification: E43, E44, E58euro exchange rate, Exchange Rate Pass-Through, innovative activity, market power, multivariate cointegration

Market Conduct, Price Interdependence and Exchange Rate Pass-Through

This paper develops an international oligopoly model where foreign and domestic firms simultaneously choose their pricing strategies under the assumption of non-zero conjectural variations. The model captures the links between domestic and foreign producers’ prices and establishes a relationship between the price of domestically produced goods and the exchange rate, which appears to be important for the determination of exchange rate pass-through. It is also found that the equilibrium pass-through elasticity can be less than, equal to or greater than one depending on exporting and domestic firms’ conjectural variations. The empirical implications of the model are tested with the Johansen multivariate cointegration technique using data for Japanese firms’ exports to the US market. The results indicate that US producer prices are indeed influenced by the prices of their Japanese competitors and that the pass-through elasticity is less than one.Money demand; Exchange rate pass-through; Conjectural variations; Translog expenditure function; Multivariate cointegration

Market Power, Innovative Activity and Exchange Rate Pass-Through

This paper considers an international oligopoly where firms simultaneously choose both the amount of output produced and the proportion of R&D investment to output. The model captures the links between the exchange rate, market power, innovative activity and price, which are important for the determination of the optimal degree of exchange rate pass-through. It is found that in the long run the pass-through elasticity can be less than, equal to or greater than one depending on R&D effectiveness but in any case it is higher than in models that do not endogenise innovation decisions. The empirical implications of the model are tested using data for Japanese firms exporting to the US market and applying the Johansen multivariate cointegration technique. Particular attention is given to the estimation and identification of the equilibrium price and R&D-intensity equations. The empirical results indicate that price-setting and R&D-intensity decisions of firms are jointly determined in the long run. This interdependence must be taken into account if an accurate estimate of the exchange rate pass-through is to be obtained.Exchange rate pass-through; market power; innovative activity; multivariate cointegration

Danza frenética

Actas del Segundo Congreso Internacional sobre Imagen, Cultura y Tecnología celebrado del 20 al 22 de octubre de 2010 en la Universidad Carlos III de Madrid¿Cómo puede una imagen cargarse de tiempo? Agamben encuentra la respuesta en la danza como una operación regida por la memoria, de la que dice que “el verdadero lugar del bailarín no está en el cuerpo y en su movimiento, sino en la imagen (…) como pausa no inmovil, sino cargada, al mismo tiempo, de memoria y de energía dinámica.” De acuerdo a este enfoque, es posible establecer un vínculo entre la danza y el movimiento de nuestro cuerpo en cuanto a que deja huellas. Hablamos del dibujar como modo de producir un tipo de imagen “cargada, al mismo tiempo, de memoria y de energía dinámica”, de un diagrama. Nuestro punto de partida es el dibujar como “trazar, figurar, armar, organizar a trazos”, como “jugar con la fluidez del cuerpo y del cosmos” (J.Seguí), así como diagrama, entendido éste último como catástrofe (Deleuze). No se trata simplemente de manejar un conjunto operativo de lineas y de zonas de trazos, de manchas sin significado y no representativas, sino más bien de “ir contra el cliché” . Esta intención de superar lo previo y lo dado, lo ya hecho, define la experiencia del dibujante. La experiencia de la producción de la obra de arte, entendida según Dewey como una forma vital y experimental,representa un esfuerzo por cambiar lo dado, una proyección hacia lo desconocido, un marchar hacia el futuro (Ferrater Mora) El fenomeno de dibujar como acción libre –que intentamos describir y redescribir a través de varios autores–, no tiene que ver con los instrumentos, normas y canones a obedecer sino que trata de un estado de fluidez, donde la mano se libera en una “danza frenética”.Publicad

Mencermati Hakikat Uang dalam Perspektif Pentakosta-Karismatik

Abstract. This study was to explore the meaning of money in the Charismatic Pentecostal perspective. The method used was descriptive analysis through literature study. Through this study it was concluded that the Charismatic Pentecostals see the money is not merely needed to meet the daily life needs, it’s also as means of service to God. Service to God itself is not limited only in the form of ecclesiastical ministry, but also includes every work to promote a good life in this world.Abstrak. Penelitian ini berusaha mencermati pemaknaan uang dalam prespektif Pentakosta Karismatik. Metode yang digunakan adalah deskriptif analisis melalui kajian literatur. Berdasarkan kajian penelitian ini kaum Pentakosta Karismatik berpandangan bahwa uang selain dibutuhkan untuk mencukupi kebutuhan hidup sehari-hari, uang juga sebagai sarana pelayanan kepada Tuhan. Pelayanan kepada Tuhan itu sendiri tidak dibatasi hanya dalam bentuk pelayanan gerejawi, tetapi mencakup juga setiap karya untuk mewujudkan kehidupan yang baik di dunia ini