Labor Market and Household Debt in Asia Pacific Countries: Dynamic Heterogeneous Panel Data Analysis

2019 ◽  
Vol 10 (02) ◽  
pp. 1950011 ◽  
Author(s):  
Suhal Kusairi ◽  
Suriyani Muhamad ◽  
M Musdholifah ◽  
Shu-Chen Chang
Keyword(s):  
Labor Market ◽  
Panel Data ◽  
Labor Force ◽  
Unemployment Rate ◽  
Panel Data Analysis ◽  
Housing Price ◽  
Asia Pacific ◽  
Household Debt ◽  
Dependency Ratio ◽  
Long Run

An overwhelming increase in household debt in the last decade has stirred researchers to explore the determinants of this phenomena, especially the role of the labor market. This paper comes to identify these determinants using the macro panel data from Asia Pacific countries for 1994–2016 and dynamic heterogeneous panel data analysis. The empirical results found that household consumption, housing price index, and labor force have a long-run positive relationship with household debt. In contrast, the unemployment rate and dependency ratio have a long-run negative relationship with household debt. This implies that when consumption, housing price, and labor force increase, then the household debt will increase, and when the unemployment rate and dependency ratio increase, the household debt will decrease. Also, in the short-run, public debt does affect private consumption, and it is not different among countries. The labor market, as represented by the unemployment rate, dependency ratio, and labor force, has a strong effect on the household debt in the long-run. Based on these findings, the government should pay more attention to the household debt related to property and commodity markets because they expose the short-run volatility and create problems for the long-term.

scholarly journals Unemployment Invariance

2004 ◽  
Vol 5 (3) ◽  
pp. 297-317 ◽  
Author(s):  
Marika Karanassou ◽  
Dennis J. Snower
Keyword(s):  
Labor Market ◽  
Labor Force ◽  
Unemployment Rate ◽  
Capital Stock ◽  
Growth Path ◽  
Long Run ◽  
Endogenous Growth Model ◽  
Working Age ◽  
Invariance Hypothesis ◽  
Working Age Population

Abstract This paper provides a critique of the ‘unemployment invariance hypothesis’, according to which the behavior of the labor market, by itself, ensures that the long-run unemployment rate is independent of the size of the capital stock, productivity and the labor force. In the context of an endogenous growth model, we show that the labor market alone need not contain all the equilibrating mechanisms to ensure unemployment invariance; in particular, other markets may perform part of the equilibrating process as well. By implication, policies that raise the growth path of capital or increase the effective working-age population may influence the long-run unemployment rate.

scholarly journals The marriage unemployment gap

2017 ◽  
Vol 18 (1) ◽  
Author(s):  
Sekyu Choi ◽  
Arnau Valladares-Esteban
Keyword(s):  
Labor Market ◽  
Labor Force ◽  
Unemployment Rate ◽  
Crucial Role ◽  
Transition Probabilities ◽  
Demographic Changes ◽  
Men And Women ◽  
Main Driver ◽  
Married Individuals ◽  
Flow Decomposition

Abstract In this paper we document that married individuals face a lower unemployment rate than their single counterparts. We refer to this phenomenon as the marriage unemployment gap. Despite dramatic demographic changes in the labor market over the last decades, this gap has been remarkably stable both for men and women. Using a flow-decomposition exercise, we assess which transition probabilities (across labor force states) are behind this phenomenon: For men, the main driver is the higher job losing probabilities faced by single workers. For females, the participation margin also plays a crucial role.

Effects of content characteristics on stages of customer engagement in social media: investigating European wine brands

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Aspasia Vlachvei ◽  
Ourania Notta ◽  
Eirini Koronaki
Keyword(s):  
Social Media ◽  
Data Analysis ◽  
Panel Data ◽  
Panel Data Analysis ◽  
Customer Engagement ◽  
Content Type ◽  
Interactive Engagement ◽  
Long Run ◽  
Three Stages ◽  
The Impact

PurposeThis study advances knowledge of interactive marketing strategies by examining the effect of different content types on the three stages of customer engagement (CE) in social media, namely, relationship formation, engagement creation and engagement contribution, for European wine brands.Design/methodology/approachBoth quantitative and qualitative content analyses are conducted; a panel data analysis validates the impact of content type on the three stages of CE in social media.FindingsThe results indicate that remunerative content is the most consistent and promising strategy for enhancing all three stages of CE in social media. Social content motivates consumers to interact with wine brands by commenting, which is the most demanding and time-consuming form of engagement.Practical implicationsThe empirical results offer valuable directions for managers and marketers of European wine brands on creating and maintaining optimal interactive engagement in all three stages with their Facebook communities over the long run.Originality/valueThis study is one of the first to empirically examine, through objective measurement, how content type affects the three stages of CE in social media. The case of European wine brands is examined, over time, through a panel data analysis.

scholarly journals Mastering Panel Metrics: Causal Impact of Democracy on Growth

2019 ◽  
Vol 109 ◽  
pp. 77-82 ◽  
Author(s):  
Shuowen Chen ◽  
Victor Chernozhukov ◽  
Iván Fernández-Val
Keyword(s):  
Panel Data ◽  
Statistical Inference ◽  
Fixed Effects ◽  
State Of The Art ◽  
Panel Data Analysis ◽  
High Dimensional ◽  
Econometric Methods ◽  
Long Run ◽  
Causal Impact ◽  
The Relationship

We revisit the panel data analysis of Acemoglu et al. (forthcoming) on the relationship between democracy and economic growth using state-of-the-art econometric methods. We argue that panel data settings are high-dimensional, resulting in estimators to be biased to a degree that invalidates statistical inference. We remove these biases by using simple analytical and sample-splitting methods, and thereby restore valid statistical inference. We find that debiased fixed effects and Arellano-Bond estimators produce higher estimates of the long-run effect of democracy on growth, providing even stronger support for the key hypothesis of Acemoglu et al.

scholarly journals STOCK MARKET DEVELOPMENT IN CEE COUNTRIES – THE PANEL DATA ANALYSIS

Ekonomika ◽  
2010 ◽  
Vol 89 (3) ◽  
pp. 20-29 ◽  
Author(s):  
Radosław Kurach
Keyword(s):  
Panel Data ◽  
Stock Market ◽  
Transition Economies ◽  
System Development ◽  
Panel Data Analysis ◽  
Market Development ◽  
Necessary Condition ◽  
Market Segment ◽  
Stock Market Development ◽  
Long Run

Since financial system development is a necessary condition of the long-run economic growth, in this paper we address the question about the factors that may drive in particular the development of stock market segment. We propose a set of potential determinants and then empirically verify their importance, employing panel data methodology. We focus our attention on the thirteen CEE states and look for the conclusions that may be specific for transition economies in this region. Finally, we formulate the finding that large budget deficitshave affected significantly and adversely the CEE countries’ stock markets growth.p>

scholarly journals Structural legacies and the motherhood penalty: How past societal contexts shape mothers’ employment outcomes in reunified Germany

2020 ◽  
Author(s):  
Matthias Collischon ◽  
Andreas Eberl ◽  
Malte Reichelt
Keyword(s):  
Labor Market ◽  
Labor Force ◽  
Labor Force Participation ◽  
Gender Norms ◽  
Working Hours ◽  
The West ◽  
Maternal Work ◽  
Long Run ◽  
East German ◽  
Work Preferences

Motherhood penalties vary strongly across societal contexts. While most studies that aim to explain such differences focus on institutions, a smaller literature refers to the influence of cultural norms or a complex interaction between the two. Empirically, however, it is yet unclear if such norms play a role and how they—jointly with institutions—contribute to motherhood penalties. We make use of a unique historical setting that allows us to assess how societal contexts affect maternal work preferences and labor market outcomes in the short- and long-run. Germany’s division into socialist East and parliamentary democratic West led to considerably different gender norms. But German reunification in 1990 mostly realigned gendered institutions. Using data from the German Socio-Economic Panel (SOEP), we show that East and West German mothers’ preferred and realized labor force participation and working hours nevertheless remain divergent. We then focus on East German women who moved to the West during and after the country’s transitionary period. Despite moving to a context with more conservative gender norms, East German mothers in the West retain and fulfill their work preferences. Our findings imply that it is the structural legacy of past norms and institutions, not current ones, that shapes maternal work preferences and thus pave the way for motherhood penalties. Moreover, societal norms at the time of childbirth do not directly affect mothers’ labor force participation, working hours, or wages. Gendered outcomes in the labor market are thus highly dependent on institutional and normative changes across cohorts.

scholarly journals The nexus of tourism spending with economic performance: A panel data analysis for the Eurozone area

2021 ◽  
Vol 25 (1) ◽  
pp. 53-62
Author(s):  
Ageliki Anagnostou ◽  
George Ekonomou ◽  
Dimitris Kallioras
Keyword(s):  
Data Analysis ◽  
Panel Data ◽  
Economic Performance ◽  
Panel Data Analysis ◽  
Centrifugal Forces ◽  
Economic Space ◽  
Analysis Techniques ◽  
Long Run ◽  
The Relationship ◽  
Long Run Equilibrium

The paper investigates the nexus of tourism spending (i.e. leisure and business tourism spending) with economic performance (i.e. GDP and employment) for the Eurozone countries, during the period 2000-2018, employing sophisticated panel data analysis techniques. The issue is salient, given that within the Eurozone economic space the abolition of border impediments has released dynamics and brought into surface a new mix of opportunities, threats and challenges that has been changing the balance between centripetal and centrifugal forces. The findings of the paper identify the long-run equilibrium and confirm the bi-directional relationships among the variables considered, thus contributing to the discussion on the relationship between tourism and economic performance.

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