Both rights aren't absolute. Because it isn't a hard restriction of the free movement of goods, the Court said there is no illegal prohibition of the free movement of goods. Without a breach there can't be damages that should be paid to Schmidberger. The Case is about a dispute between Omega and the Bonn policy authority on the practice of laser sport in an installation known as 'laserdrome'.
The policy authority has forbidden the game, because simulate shots that hit marks on people is playing to kill others. The questions refereed by this case are: At first is the prohibition of these company Omega and their service for bases developing from the prohibition of human rights laid down by the national constitutions and second in cases of the ability Member States have to limit fundamental freedoms, in these case the freedom to provide services and free movement of goods the restriction must be based on a legal conception that is available in all Member States.
The Court showed that the restriction of freedoms, in this case of services, are only allowed, according to Art 55, 46 EC, if there are reasons of public policy, public security and public health. Because the Bonn policy authority forbidden the service of Omega as a subject of public policy, it must just be proved by the Treaty. The Court added that fundamental rights are an inbuilt part of the European Union and cannot be challenged.
It is also the less restrictive version to prohibit just the shots on humans. At all it cannot be pointed out as a measure unjustifiably undermining the freedom to provide services. The first case deals with the free movement of goods. As a part of the internal market the problems about this could also be transferred to the free movement of services. But the free movement of services is more temporary. This is the freedom to take expression and of assembly. These rights are legitimate reason for a restriction of the free movement.
In Omega the fundamental right is a right given by the national constitution. Both cases show that the free movement as part of the internal market can be restricted by the fundamental rights. So the free movement isn't an absolute right. But it also shows that the fundamental rights aren't absolute, because the Court is speaking about balancing between both rights. Just after this balancing of both principles against each other there can be a result which one is the more important right.
R G Ruth Greve Author. Add to cart. We show that taxation of profits generated in one country makes the price charged to advertisers from that country resp. Accordingly, we demonstrate that aggregate advertising prices in OECD countries increased more, after the policy change, the larger is the market share of UK-based advertisers. This paper analyzes the growth of Metropolitan Statistical Areas in the PRC between and by focusing on the night-light radiance—a measure of economic activity—of connected subcity places that we refer to as a natural city.
This paper documents the rapid growth of natural cities in the PRC between and that was followed by a slight reduction in the size of some natural cities between and in the aftermath of the recent global financial crisis. Institutional factors—such as the location of places near Special Economic Zones, the ramifications of legal migration from rural to urban areas following reforms to the hukou household registration system, and infrastructure accessibility—are found to be important drivers of the integration of peripheral places into natural cities.
In this article, we argue that every typology should be constructed in a systematic, transparent process. We both propose such an approach and apply it to construct three ideal types of vocational education and training VET programs. The first ideal type, with a maximal linkage, entails equal power-sharing between actors from the two systems. We expect such a VET program to have the most favorable youth labor market outcome. In contrast, the other two ideal types, in which only one system has all of the power, result in either undesirable outcomes, such as unemployment or skill mismatch, or missing access to further education.
Das dritte Kapitel diskutiert die detaillierten Wirtschaftsentwicklungen im Ausland. Teilzeitarbeit ist in der Schweiz insbesondere bei Frauen weit verbreitet und wird zumeist positiv beurteilt. Der wichtigste Grund, weshalb Frauen Teilzeit arbeiten, ist die Kinderbetreuung. Aktuelle Daten zum Ener -gieverbrauch zeigen, dass man von diesem Ziel noch weit entfernt ist. Die Wirtschaft kann einen wesentlichen Beitrag zur Zielerreichung leisten; rund ein Drittel des gesamten Energieverbrauchs entfallen auf diesen Bereich.
Kurzfristig profitieren am ehesten Unternehmen, die Digitalisierungstechnologien selbst entwickeln. Der Innovationserfolg, gemessen am Umsatzanteil innovativer Produkte, hat sich hingegen insgesamt verbessert. Dabei zeigen wir, dass die duale Berufsbildung die Jugendarbeitsmarktsituation verbessert. Im Gegensatz dazu verschlechtert die schulische Berufsbildung die Integration der Jugendlichen in den Arbeitsmarkt, aber nicht deren Anstellungsbedingungen. We therefore investigate how the share of three upper secondary education programmes, i. We complement the existing literature by analysing non-linear effects that might arise due to general equilibrium effects.
Furthermore, we include ten labour market indicators for integration and job quality. In contrast, dual VET improvesnot onlylabour market integration butalso job quality. However, the positive and negative effects of VET programmes diminish with increasing enrolment rates. Thus, policymakers should consider these different effects in their educational reforms.
This paper analyses the effect of a change in the real exchange rate on the number of overnight stays in Swiss hotels. We find low exchange rate elasticities of 0. On the source market side, we find large exchange rate elasticities for German, Dutch, and Belgian visitors, while travellers from France and Italy are less price sensitive. We evaluate the usefulness of satellite-based data on nighttime lights for forecasting GDP growth across a global sample of countries, proposing innovative location-based indicators to extract new predictive information from the lights data. Our findings are generally favorable to the use of the night lights data to improve the accuracy of model-based forecasts.
We also find a substantial degree of heterogeneity across countries on the relationship between lights and economic activity: individually estimated models tend to outperform panel specifications. Key factors underlying the night lights performance include the country's income level, logistics infrastructure, and quality of national statistics. Attempts to test this model empirically have been sparse, however, and with mixed results.
These attempts so far relied on using — mostly cross-sectional — micro data from household surveys. For the first time in the literature we bring in macroeconomic panel data for 29 OECD countries over the period to test the model. In order to check the robustness of the results for the determinants of medical spending identified by the model, we include additional covariates that have been suggested as determinants for medical spending in an Extreme Bounds Analysis EBA framework. The preferred model specifications including the robust covariates lend some support to the empirical relevance of the determinants of medical spending identified by the Grossman model, except for the relative medical price.
Under adaptive learning, recursive algorithms are proposed to represent how agents up-date their beliefs over time. For applied purposes these algorithms require initial estimatesof agents perceived law of motion. Obtaining appropriate initial estimates can become pro-hibitive within the usual data availability restrictions of macroeconomics. To circumventthis issue we propose a new smoothing-based initialization routine that optimizes the useof a training sample of data to obtain initials consistent with the statistical properties of thelearning algorithm.
Our method is generically formulated to cover different specificationsof the learning mechanism, such as the Least Squares and the Stochastic Gradient algo-rithms. Using simulations we show that our method is able to speed up the convergence ofinitial estimates in exchange for a higher computational cost. We examine the eects of negative economic news reporting on companies' self-assessment of their business situation. In order to measure this negativity eect, we introduce a new daily business indicator for the Swiss manufacturing sector and examine the in uence of newspaper articles, which we scan for particular keywords, on a daily basis.
We use OLS and VAR models to examine the mutual in uence of negative news and the business situation of private companies. The results show a negative in uence of news reporting on the self-assessment of the companies surveyed, also when controlling for the overall economic situation. However, the negative eect is not stable in all our set-ups. Between and Switzerland fully opened its border region BR to cross-border workers CBW , who are foreign residents commuting to Switzerland for work.
In this paper, we exploit the timing of implementation and the fact that CBW commute almost exclusively to municipalities close to the border to estimate the effect of this policy on foreign labor supply and on native labor market outcomes, using a difference-in-difference approach. We find that opening the border to CBW increased their employment within 10 minutes of commuting time from the border by 4 to 5 percentage points.
The increased inflow was mainly constituted of highly-educated workers and it was associated with an increase of wages of highly-educated Swiss workers and no significant changes of wages of other workers. We also find weak evidence that employment and hours worked by less educated native workers increased.
Native highly-educated workers became more likely to fill top managerial positions after the liberalization and they became more likely to stay in border regions. Occupation upgrading and complementarity with highly-educated natives, particularly strong in highskilled manufacturing and knowledge-intensive services, contribute to explaining these effects of CBW on natives. Our goal is to broaden the understanding of key stakeholders in the Nepali TVET sector on the issues of equitable, effective and efficient TVET services in a federalised context.
We study whether the Swiss short-time work STW scheme reduced layoffs during and in the aftermath of the Great Recession. While previous firm-level studies compare firms that used and did not use STW, we focus on firms that applied for STW at cantonal employment agencies, responsible for approving STW in Switzerland. Based on a quarterly establishment-level panel dataset linking administrative datasources, we compare the evolution of layoffs, hiring, and employment before and after application for STW between establishments that applied successfully and those that did not, exploiting the substantial differences in approval practices across cantons.
In contrast to most previous studies, we find strong evidence that STW prevents rather than postpones layoffs of workers, especially in the quarters immediately following the application. These effects are concentrated among low- and middle-qualified workers. The estimates suggest that the savings in Terms of unemployment benefit payments may be large enough to fully compensate the spending on STW benefits in the Swiss case.
In this paper we disentangle transfer pricing patterns by investigating different margins along which profit shifting occurs. We develop a theoretical model in which the price of intra-firm transactions can deviate from the arm's length price to shift profits to affiliates in countries that offer lower corporate tax rates. We find that there is a productivity threshold for firms to engage in transfer pricing extensive margin , and that more productive firms shift more profits intensive margin.
Moreover, a greater tax differential implies more profit shifting, and there is a trade-off between the tax differential and trade costs. We argue that the specific functional form of the concealment costs that firms face when using transfer pricing is an important determinant of the firm's profit shifting behaviour.
The predictions from the theoretical model are confirmed by empirical estimates that are based on Swiss firm level import transactions data along with firm-level information. To perform counterfactual analysis, we use these data to structurally estimate the parameters of the concealment cost function.
Die Schweizer Kantone und der Bundesstaat haben in den vergangenenbeiden Dekaden ihre Haushaltsdefizite deutlich reduziert und zum Teil Schulden abgebaut.
Previous methods are classified into three broad classes: equilibrium-related, training sample-based, and estimation-based. We conduct several simulations comparing the accuracy of the initial estimates provided by these methods and how they affect the accuracy of other estimated model parameters. We show how this problem can be attenuated by penalizing the variance of estimation errors. Even so, the joint estimation of learning initials with other model parameters is still subject to severe distortions in small samples.
We find that equilibrium-related and training sample-based initials are less prone to these issues. We also demonstrate the empirical relevance of our results by estimating a New Keynesian Phillips curve with learning, where we find that our estimation approach provides robustness to the initialization of learning. That allows us to conclude that under adaptive learning the degree of price stickiness is lower compared to inferences under rational expectations, whereas the fraction of backward looking price setters increases.
Employer engagement is a critical part of vocational education and training VET. However, we know little about forms of employer engagement in the implementation of VET reforms. Employers can be advisors, or can be given roles and responsibilities throughout the cycle of VET processes: helping design curricula, providing workplace training during VET application, and providing feedback or initiating updates. In the higher-engagement model, employers coordinate with other companies in their sectors and invest, then have the opportunity to earn returns—often during the training period.
We follow eight international VET reforms through their first year. We find that cases where employers are highly engaged make more progress, excepting powerful top-down reforms. What is the effect of opening the labor market to foreign workers on the success of firms? We address this question by analyzing how firms in Switzerland were affected by the introduction of the free movement of persons with the European Union EU countries.
This immigration reform granted all EU workers free access to the Swiss labor market. Our firm-level panel data models exploit the exceptional facts that the reform incidentally affected firms at different time periods and had a stronger effect on firmsclosetotheborder. We find that the Reform increased employment, skill intensity, and sales of incumbent firms, especially for those that relied heavily on foreign workers and had reported that they suffered from skill shortages before the reform.
In these firms, the reform also increased labor productivity. We explain these effects through the higher innovation performance of incumbent firms and the reallocation of economic activity into highly affected regions, as evidenced by the entry of new establishments and by the changes in establishment size within multi-establishment firms.
To identify the causal linkages, we build a system of twelve equations, tracking first the impacts of policy on the adoption of green energy technologies for distinct areas. This paper investigates the impact of energy policies on the export performance of firms. There has been a long policy debate on potentially negative impacts of cost-increasing energy policies on international competitiveness.
We use firm-level data from three countries with similar industry structure but different energy policies: Germany, Switzerland, and Austria. We rely on firm manager assessments on the relevance of energy policy in terms of taxes, regulations, standards, subsidies and demand stimulation for their firm operation and link data on the adoption and development of new energy technologies. The present study investigates the effects of energy-related technologies on economic performance at firm level. We distinguish clearly between adoption and use of energy-related technologies process innovation in the broad sense and product innovation in energy-related fields.
We take into consideration four energy-related policy instruments and expected demand for energy-related new products and services. We investigate the possibility of indirect effects of policy on performance via adoption or innovation by interacting adoption and innovation variables with policy instrument dummies. We test our hypotheses not only for the pooled data but also separately for the three countries Austria, Germany, Switzerland that are taken into consideration in this study.
We find a positive direct effect of investment expenditures for energy-related technologies on labour productivity and a positive indirect effect of energy taxes via investment in energy-related technologies. We find neither direct nor indirect effects of product innovation in energy-related products on labour productivity. No differences among the three countries could be detected.
Based on representative firm-level survey data for the three countries Austria, Germany, and Switzerland, we investigate the effects of regulation, energy taxes, voluntary agreements, and subsidies, on the creation of green product innovations. Our data set allows us to distinguish between the supply-side effects cost effects and the demand-side effects of policy measures, which improves our understanding of the frequently observed positive net effect of policies.
Controlling for the demand effect, taxes and regulations are negatively related with product innovations. Hence, if taxes and regulation do not trigger additional demand, they decrease the propensity to innovate. These effects are ameliorated for technologically very advanced firms and for firms with a high level of financial awareness. Subsidies and partly voluntary agreements are positively related with product innovations.
In response to mounting international pressure to reform the ring-fenced elements profits tax system, the Swiss government has put forward a comprehensive tax reform package.
The proposal comprises the introduction of a license box, a substantial reduction in cantonal profit tax rates, and an allowance for excess corporate equity. We apply a computable general equilibrium model to quantify the economic effects of this reform. Our results reveal that the license box, combined with the reduction in the cantonal profit taxes, limits the outflow of the tax base of those companies that benefit from the current preferential tax treatment.
Freedom House als Messmethode - zuverlässig oder Näherung? (German Edition) - Kindle edition by Alexander Reden. Download it once and read it on your. Read Freedom House ALS Messmethode - Zuverl ssig Oder N herung? book reviews & author (German) Paperback – Import, 30 Apr Kindle Edition.
The reduction in cantonal profit taxes and the fact that regularly taxed companies additionally benefit from the license box render the reform package costly, such that tax revenues might well decline after the reform. I study the link between real activity and deflation, taking into account measurement problems in 19th century CPI data. Replications based on modern data show that measurement problems spuriously increase the volatility of inflation as well as the number of deflationary episodes, and they lower inflation persistence.
As a consequence, estimates of the link between real activity and deflation may be attenuated because of the errors-in-variables problem. I find that real activity was on average substantially lower during 19th century deflations in the US, after controlling for measurement error using an IV-regression approach. Moreover, the average short-fall in real activity was not significantly different compared to the Great Depression. Using well-measured data for a panel of 17 industrialized economies shows that milder deflations were associated with a lower output gap.
But, the association with GDP growth is not statistically significant. We propose a new patent-based measure of knowledge spillovers that calculates technological proximity based on firms that were identified via patent backward citations links. We argue that this measure has a couple of advantages as compared to the 'standard' measure proposed by Jaffe: First, it reflects spillovers from both domestic and foreign technologically 'relevant' firms, second, it is more precise because it only takes into account knowledge relations with technologically 'relevant' firms.
Our empirical results indeed show that the measure performs better than the standard measure in an innovation model. We find - for a representative sample of Swiss firms - that knowledge spillovers measured in this way have a positive and significant impact on innovation success. However, the knowledge spillovers appear to be localized: Spillovers from geographically distant areas such as the USA and Japan matter less than spillovers from near destinations such as Europe and particularly Switzerland itself. Moreover, the spillover effect on innovation performance decreases with increasing number of competitors on the main product market so that this effect would appear only in niche markets or oligopolistic market structures.
However, an additional effect of competition can only be detected for more radical innovation success.
The objective of this report is twofold. Second, the report uses index-based tables and graphs to analyse the evolution of the working conditions that young people faced in Europe after the beginning of the Great Recession in Besides applying widely used indicators such as the youth unemployment rate, the KOF YLMI also considers the working conditions, the provided education, and the ease to entry into the labour market for youth in a specific country. The media attention and the political recognition received by the two previous releases encouraged us to maintain and improve the index and the associated web tool1.
The main improvement to the third release of the KOF YLMI is the addition of new data from to the set of indicators composing the index. The detailed descriptions of data sources and availability are reported in Section 2. The dramatic evolution of some indicators has forced us to shift the bounds that are used to standardize values into scores. One prime example is the share of youth working involuntarily part-time, whose median value has more than doubled between Without a modification to the upper bound, the values of all countries overtaking the original upper bound would be assigned the lowest possible score, and no further distinctions would be possible.
The shift of the upper bounds is described in Section 3. These modifications to the bounds are not only applied to the data added from , but retroactively applied to all values in the index from This report, besides keeping track of changes in data availability and calculation methods, aims to show the potential of the KOF YLMI in analysing the youth labour market situation. The attention here is mainly concentrated on the working conditions that youth face on the labour market.
Working conditions, together with the indicators describing the activity state, are the components that were most strongly affected by the Great Recession. In particular, we highlight the heterogeneity that characterizes the working conditions in the countries impacted most by the crisis. Section 5 concludes and briefly suggests future areas of work. This paper studies determinants of knowledge flows as measured with patent forward citations that occur between 'input' and 'output sector-countries'.
We look at the impact of absorptive capacity of a focal sector-country, knowledge spillovers and technological distance between sector-countries on further knowledge flows. For this purpose, we develop a knowledge flow matrix similar to input-output tables in trade where patent citations capture knowledge flows that go from the input sector-country to the output sector-country. We estimate a gravity model with variables that capture technological distance and knowledge that comes from either inside the input output pair or from external spillover sources.
Our results indicate that knowledge accumulated in the output sector-country and - in some cases - external spillovers are key in generating further knowledge flows that go to the output sector-country. A distinction between high-tech and low-tech sector-countries shows that spillovers are more useful for the generation of knowledge flows if the input sector-country is low-tech.
Low-tech sector-countries benefit from both high-tech knowledge from the output sector-country and external knowledge from the technological frontier.
In contrast, knowledge flows based on high-tech sector-countries cannot benefit from low-tech sector-countries and only to a very limited extent from other high-tech sources. Technological distance between sector-countries has a negative impact on further knowledge flows so that only technologically proximate sector-countries are more likely to generate knowledge flows.
Based on firm-level panel data over the time period , the paper finds no visible sales growth differentials between firms in booming economic environments. In the economically difficult times of recessions, by contrast, innovative firms show significantly higher sales growth rates than non-innovative firms.
Moreover, the paper shows that small innovative firms, profiting from their higher organizational flexibility and stronger entrepreneurial commitment, are the main beneficiaries in this adaption process. In contrast with most previous work, our results suggest that all finance variables increase income inequality.
The level of financial development conditions the impact of financial liberalization on inequality. Also the quality of political institutions conditions the impact of financial liberalization on income inequality, in contrast to the quality of economic institutions. Second, we simultaneously estimate the policy effects for the adoption propensity and the adoption intensity simultaneously and, third, we conduct an international comparison of the policy effects.
Based on a representative sample of firms for Austria, Germany, and Switzerland we find that policies in all three countries essentially promote the adoption of technologies and they are practically ineffective for the intensity, which poses a great challenge to future policy designs. Voluntary agreements or demand related factors are among the most important drivers for the adoption propensity of green energy technologies. Given the current institutional framework in the surveyed countries, subsidies are more effective in Austria, taxes are more effective in Germany, and demand related factors are relatively more effective in Switzerland.
Numerous studies have been dedicated to understanding the causes of coups. However, model uncertainty still looms large. About one hundred potential determinants of coups have been proposed, but no consensus has emerged on an established baseline model for analyzing coups. We address this problem by testing the sensitivity of inferences to over three million model permutations in an extreme bounds analysis. Overall, we test the robustness of 66 factors proposed in the empirical literature based on a monthly sample of countries that covers the years to We find that slow economic growth rates, previous coup experiences, and other forms of political violence to be particularly conducive to inciting coups.
Measuring the link between deflation and depression is hampered by the errors-in-variables problem in historical CPI data. The replications show that the deficiencies spuriously increase the volatility of inflation as well as the number of deflationary episodes, and they lower inflation persistence. I then account for measurement error, first by estimating an improved measure of the persistent and transitory part of inflation based on a factor model. Three out of four periods with persistent deflation are associated with depression.
Moreover, there is a significant association between lower real activity and short-lived deflations, and this association is not limited to the Great Depression. Second, the results are confirmed by an IV-regression approach that uses an independent noisy proxy to instrument the error-ridden retrospective CPI. In this paper we document the asymmetric role that the U.
Most of the positive evidence accrues during the periods of recessions in the United States. During the expansions there is only a limited evidence supporting the importance of lagged U. Neve scarseggiante, un franco forte e le insicurezze globali sia economiche che politiche globali attutiscono la richiesta di turismo in Svizzera.
Nella stagione invernale il numero dei pernottamenti ha registrato un calo contenuto. Per la stagione estiva il KOF attende uno sviluppo positivo. La crescita dei pernottamenti dovrebbe essere dell'1. Secondo il KOF perdura lo spostamento dal turismo alpino a quello urbano. Insbesondere die Auslandsnachfrage war schwach. In this paper we use panel data from a survey conducted on 30 Swiss utilities to estimate the impact of demand-side management DSM activities on residential electricity demand using DSM spending and an energy efficiency score. The cost of saving a kilowatt hour is around CHF 0.
We conclude that current DSM practices in Switzerland have a statistically significant effect on reducing the demand for residential electricity. Die deutsche Wirtschaft befindet sich in einem moderaten Aufschwung.
This paper proposes a new approach to measuring changes in the social status of education programmes, a type of social status that the literature has greatly neglected so far. We focus on the dual Vocational Education and Training dual VET system in Switzerland, which has recently received substantial attention across Europe. We argue that, holding everything else constant, a change in the relative ability of students in an education programme, in relation to the cohort, reflects a change in the social status of that programme.
Using PISA scores as a proxy for cognitive ability, we apply this approach to test whether growing knowledge of the education system increases the social status of dual VET in Switzerland. Our results, which focus on immigrant students, confirm that the social status of dual VET increases with these students length of stay in Switzerland, thus reflecting their learning process about the Swiss education system. Deductibles are commonly used to tame increasing health care costs. Numerous studies find that higher deductibles reduce health care utilization.
While there is a minimum deductible level in Switzerland, individuals are free to increase their deductible and thereby reduce their insurance premium. In order to distinguish between selection and moral hazard we use regional variation in premiums as an instrument. Moreover, we take advantage of a policy change in that introduced the higher deductible for the first time. The results show that selection leads to considerable differences in utilization between the two groups, while we find no behavioral differences across both groups. If anything health care expenditures are higher for male individuals with the higher deductible, while for females there are no differences between the two deductible levels.
This paper investigates the causal relationship between firms? The literature provides two contrasting views in this respect. The first view holds that a firm? The second view holds that firms? In order to obtain exogenous instruments, the paper exploits shocks to i technological opportunities and ii sales from capital goods suppliers. Results show a one-way causal relationship; we find evidence for that firms? Thus, increasing research activity may not just be valuable for long-run economic growth but, via investment, may also give the economy a head start in times of a prolonged economic downturn.
A sudden change in monetary policy happened in Switzerland on January 15th, This unexpected change of regime induced a temporary uncertainty about future prices in foreign markets. We believe that this hampers firm investment in the short term. Using this change in monetary policy as a natural experiment and exploiting the continuous nature of a micro-level business tendency survey, we identify the source of uncertainty and disentangle first and second moment effects.
We find that price uncertainty affects investment in equipment and machinery through real option effects and believe that growth option effects positively influences expenditures in research and development. We show that focusing on aggregate gross fixed capital formation masks important insights and suggest the use of disaggregated investment data to deepen our knowledge on the relationship between uncertainty and investment.
The interaction of macroeconomic variables may change as the nominal shortterm interest rates approaches zero. In this paper, we propose an empirical model capturing these changing dynamics with a time-varying parameter vector autoregressive process. State-dependent parameters are determined by a latent state indicator, of which the probability distribution is itself affected by the lagged interest rate. As the interest rate enters the critical zero lower bound ZLB region, dynamics between variables and the effect of shocks change.
We estimate the model with Bayesian methods and take explicitly into account that the interest rate might be constrained in the ZLB region. We provide an estimate of the latent rate, i. The endogenous specification of the state indicator permits dynamic forecasts of the state and the system variables. In an application to Swiss data, we evaluate state-dependent impulse-responses to a risk premium shock identified with sign-restrictions. Additionally, we discuss scenario-based forecasts and evaluate the probability of the system exiting the ZLB region based on the inherent dynamics only.
Using firm-level data for Jordan, we estimate the extent to which growth spillovers from foreign direct investment FDI to local firms stem from persistent learning ex- ternalities i. We find that they have a significant transitory nature, with employment and capital growth declining when FDI falls, particularly in down- stream industries supplied by locals.
This suggests that if FDI-attracting policies are intended to promote sustainable growth, it may be more effective to attract and retain FDI via long-term structural policies, for instance, through low corporate tax rates rather than temporary tax holidays or through policies that strengthen the domestic absorptive capacity and linkages between foreign and local firms.
It also suggests that FDI-led growth can increase a country's vulnerability to adverse global shocks in that the productivity gains of domestic firms will be partly reversed with the disinvestment of multinational firms. The effect of employment protection legislation EPL on unemployment and employment levels is still an unresolved issue in the literature.
To tackle this issue is the aim of this meta-analysis. Drawing on evidence from 72 studies, I find that EPL has no statistically significant effect on the unemployment level. Based on 42 studies, I find that EPL decreases the employment level. Analysing study heterogeneity reveals that the quality of the identification strategy matters for the results. In particular, studies that account for unobserved heterogeneity across countries or exploit variation at the country level confirm the main findings of the meta-analysis.
Does increased policy uncertainty dampen investment plans of firms? We provide direct evidence on this question by examining the effects of an unexpectedly accepted and farreaching referendum in Switzerland in February The vote has put several economically relevant agreements between Switzerland and its main trading partner, the European Union, at stake.
Using firm-level survey data levied before and after the vote, we examine whether firms that reported to be affected by the induced policy uncertainty have revised their investment plans differently from those that did not perceive an increase in uncertainty. We find strong evidence that an increase in policy uncertainty does lead firms to reduce their investment plans. As theoretically expected, these effects are concentrated among those firms that view their investments as largely irreversible.
Manual Pre-K. Baltimore, MD: Brookes and the quality of interactional processes in a German pre-school setting, drawing on a sample of children in 61 language promotion groups. Rater agreement, temporal stability, and internal consistency were used to describe the reliability. The analysis revealed that reliable assessments of the quality of classroom interactional processes could be achieved and that the three-factor structure could be modelled in a German pre-school setting.
The examination of the quality of classroom interactional processes in these language promotion groups indicated that Emotional Support and Classroom Organization were excellent but that the quality of Instructional Support was very low. Consequences of this study were discussed. Skip to Main Content. Search in: This Journal Anywhere. Advanced search. Submit an article Journal homepage. Pages Published online: 25 Oct Article Metrics Views.