On the Role of Sectoral and National Components in the Wage Bargaining Process

This paper provides an empirical analysis on the determination of wages at the sectoral level in main industrial economies. Nominal wages are bargained between labour unions and employers in imperfect competitive markets, where spillovers across sectors might occur. Using a principal component approach, sectoral wage growth rates are separated into common and idiosyncratic components. This defines the relative role of national and sector specific conditions in the wage determination process. The common component is highly relevant especially in continental Europe, and is more visible for manufacturing than for services sectors. It reflects national inflation and productivity growth, while labour market tightness is negligible. The weight of the macroeconomic environment has declined in recent years. Wage growth tends to be more in line with idiosyncratic conditions like sectoral productivity and prices, probably due to the ongoing globalization of markets.sectoral wages, wage spillovers, common factors

Hysteresis and Persistence in the Course of Unemployment: The EU and US Experience

We investigate hysteresis and persistence behaviour in the course of unemployment in EU countries and US states by means of first and second generation panel unit root tests. While the former tests assume independent cross sections, the latter control for dependencies. The first generation tests indicate, that unemployment is persistent, but nevertheless stationary. Second generation tests reveal mixed results, but the evidence for stationarity is much stronger for the US. Hysteresis in EU unemployment is attributed to the idiosyncratic, but not to the common component. In contrast, idiosyncratic components are stationary in the US. If hysteresis behaviour is also relevant here, it is more likely to arise in the common component. These findings might reflect a lower degree of migration of the unemployed in the EU from starving into prosperous regions, possibly because of language barriers or national labour market regulationsUnemployment persistence, hysteresis, panel unit roots

Panel Seasonal Unit Root Test With An Application for Unemployment Data

In this paper the seasonal unit root test of Hylleberg et al. (1990) is generalized to cover a heterogenous panel. The procedure follows the work of Im, Pesaran and Shin (2002). Test statistics are proposed and critical values are obtained by simulations. Moreover, the properties of the tests are analyzed for di®erent deterministic and dynamic specications. Evidence is presented that for a small time dimension the power is slow even for increasing cross section dimension. Therefore, it seems necessary to have a higher time dimension than cross section dimension. The new test is applied for unemployment behaviour in industrialized countries. In some cases seasonal unit roots are detected. However, the null hypotheses of panel seasonal unit roots are rejected. The null hypothesis of a unit root at the zero frequency is not rejected, thereby supporting the presence of hysteresis effects.panel seasonal unit root test, IPS-approach, unemployment data

Long-run money demand in the new EU Member States with exchange rate effects

Generally speaking, money demand models represent a natural benchmark against which monetary developments can be assessed. In particular, the existence of a well-specified and stable relationship between money and prices can be perceived as a prerequisite for the use of monetary aggregates in the conduct of monetary policy. In this study a money demand analysis in the new Member States of the European Union (EU) is conducted using panel cointegration methods. A well-behaved long run money demand relationship can be identified only if the exchange rate as part of the opportunity cost is included. In the long-run cointegrating vector the income elasticity exceeds unity. Moreover, over the whole sample period the exchange rates vis-à-vis the US dollar turn out to be significant and a more appropriate variable in the money demand than the euro exchange rate. The present analysis is of importance for the new EU Member States as they are expected to join in the future years the euro area, where money is deemed to be highly relevant - within the two-pillar monetary strategy of the European Central Bank (ECB) - in order to detect risks to price stability over the medium term. JEL Classification: C23, E41, E52exchange rate, Money demand, new EU member states, Panel Cointegration

Simplify Reporting through Spatial Data Infrastructures -the Example of the German Marine Data Infrastructure

Source: ICHE Conference Archive - https://mdi-de.baw.de/icheArchiv

Limitations of Boulder Detection in Shallow Water Habitats Using High-Resolution Sidescan Sonar Images

Stones and boulders in shallow waters (0–10 m water depth) form complex geo-habitats, serving as a hardground for many benthic species, and are important contributors to coastal biodiversity and high benthic production. This study focuses on limitations in stone and boulder detection using high-resolution sidescan sonar images in shallow water environments of the southwestern Baltic Sea. Observations were carried out using sidescan sonars operating with frequencies from 450 kHz up to 1 MHz to identify individual stones and boulders within different levels of resolution. In addition, sidescan sonar images were generated using varying survey directions for an assessment of range effects. The comparison of images of different resolutions reveals considerable discrepancies in the numbers of detectable stones and boulders, and in their distribution patterns. Results on the detection of individual stones and boulders at approximately 0.04 m/pixel resolution were compared to common discretizations: it was shown that image resolutions of 0.2 m/pixel may underestimate available hard-ground settlement space by up to 42%. If methodological constraints are known and considered, detailed information about individual stones and boulders, and potential settlement space for marine organisms, can be derived

Cliff Retreat Contribution to the Littoral Sediment Budget along the Baltic Sea Coastline of Schleswig-Holstein, Germany

Mobile coastal sediments, such as sand and gravel, build up and protect wave-dominated coastlines. In sediment-starved coastal environments, knowledge about the natural sources and transport pathways of those sediments is of utmost importance for the understanding and management of coastlines. Along the Baltic Sea coast of Schleswig-Holstein (Germany), the retreat of active cliffs—made of cohesive Pleistocene deposits—supplies a wide size range of sediments to the coastal system. The material is reworked and sorted by hydrodynamic forcing: the less mobile stones and boulders remain close to the source area; the finest sediments, mostly clay and silt, are transported offshore into areas of low energy; and the fractions of sand and fine gravels mostly remain in the nearshore zone, where they make up the littoral sediment budget. They contribute to the morphodynamic development of sandy coastlines and nearshore bar systems. Exemplarily for this coastal stretch and based on an extensive review of local studies we quantify the volume of the potential littoral sediment budget from cliff retreat. At an average retreat rate of 0.24 m yr−1 (<0.1–0.73 m yr−1), the assessment indicates a weighted average sediment volume of 1.5 m3 yr−1 m−1 (<0.1–9.5 m3 yr−1 m−1) per meter active cliff. For the whole area, this results in an absolute sediment budget Vs,total of 39,000–161,000 m3 yr−1. The accuracy of the results is limited by system understanding and data quality and coverage. The study discusses uncertainties in the calculation of littoral sediment budgets from cliff retreat and provides the first area-wide budget assessment along the sediment-starved Baltic Sea coastline of Schleswig-Holstein