Empirical Economics (Empir Econ)

Publisher: Springer Verlag

Journal description

Empirical Economics publishes papers of high quality dealing with the confrontation of relevant economic theory with observed data through the use of adequate econometric methods. Papers cover topics like estimation of established relationships between economic variables testing of hypotheses derived from economic theory policy evaluation simulation forecasting methodology econometric methods and measurement . Preference is given to contributions on industrialized market economies. Contributions dealing with developing and non-market economies should be of interest for non-specialists in these fields. Papers including international comparisons are given high priority. Shorter papers notes and comments are also welcome. Authors are expected to cooperate in case readers editors or referees should want to replicate results reported in submitted contributions. Both positive and negative results of replication efforts may be published in Empirical Economics. Indexed/

Current impact factor: 0.60

Impact Factor Rankings

Additional details

5-year impact 0.87
Cited half-life 8.40
Immediacy index 0.09
Eigenfactor 0.00
Article influence 0.51
Website Empirical Economics website
Other titles Empirical economics (Online)
ISSN 1435-8921
OCLC 40003391
Material type Document, Periodical, Internet resource
Document type Internet Resource, Computer File, Journal / Magazine / Newspaper

Publisher details

Springer Verlag

  • Pre-print
    • Author can archive a pre-print version
  • Post-print
    • Author can archive a post-print version
  • Conditions
    • Author's pre-print on pre-print servers such as arXiv.org
    • Author's post-print on author's personal website immediately
    • Author's post-print on any open access repository after 12 months after publication
    • Publisher's version/PDF cannot be used
    • Published source must be acknowledged
    • Must link to publisher version
    • Set phrase to accompany link to published version (see policy)
    • Articles in some journals can be made Open Access on payment of additional charge
  • Classification

Publications in this journal

  • [Show abstract] [Hide abstract]
    ABSTRACT: The sectoral shift hypothesis asserts that sectoral shifts in labor demand can generate a significant unemployment even if the aggregate demand stays the same. Past studies tested the hypothesis using the dispersion of sectoral shocks as a proxy for the size of sectoral shifts and reported contradicting results which are sensitive to the model specification. This paper shows that the dispersion of sectoral shocks alone is insufficient to capture the aggregate layoffs caused by the sectoral shocks and that the shape of the distribution (skewness) of sectoral shocks plays a significant role. The sectoral shift hypothesis is tested as a joint test of the significance of dispersion and skewness. The new test strongly supports the hypothesis, and it is robust to model specifications. Sectoral shifts are also found to be a significant source of cyclical variation in the aggregate unemployment rate.
    Empirical Economics 09/2015; 49(2):481-502. DOI:10.1007/s00181-014-0878-7
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    ABSTRACT: I model research quality as the outcome of a CES production technology that uses human capital measured by publication records as inputs. Investigating a sample of scientific publications with two co-authors, I show that the CES-complementarity parameter is a function of the age difference of the authors. Complementarity is maximized if the age difference between the authors is about 10 years. Two theories are presented which may explain this finding. According to these models, older and younger researchers differ not only in their skill levels but also in the types of their skills and their interpersonal relationships.
    Empirical Economics 09/2015; 49(2):751-781. DOI:10.1007/s00181-014-0885-8
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    ABSTRACT: Using fund-, firm- and bank-level data, we investigate the investments of the Italian private equity (PE) funds, with a focus on the north-western regions of Italy, where both the PE fund managers and their investments are heavily concentrated. The average size of the portfolios is small by international standards, and their concentration by firm has been growing after the 2008 crisis. The average duration of investments is rather short (about 3.7 years), and less than 10% of them target firms that are both young and innovative. PE investments by Italian fund managers are still underdeveloped, relative to traditional bank credit. We find that being participated by a PE fund increases the amount of credit obtained by the target firm and the number of bank relationships, whereas it leaves the cost of credit unaffected. The effect of the PE fund participation is exclusively related to the entry of the fund in the firm’s capital, as it fades away as soon as the fund exits from the capital, thus suggesting a weak signalling role of PE towards banks.
    Empirical Economics 08/2015; DOI:10.1007/s00181-015-1009-9
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    ABSTRACT: Abstract We use multi-unit multi-bid common value auction models with private information to draw empirical implications on how bidding behavior in bond auctions is affected by secondary market price volatility, implications that we test using indi- vidual bidding data for 88 bond auctions held between 2003 and 2007 by the Spanish Treasury. The main novelty of the paper is that we analyze the effect of volatility in bidders heterogeneous behavior within an auction. We provide evidence that, as the theoretical models predict, the heterogeneity of bidders’ bid shading increases with volatility and that, on average across auctions, bid shading and bidders’ profit also increase with volatility.
    Empirical Economics 08/2015; DOI:10.1007/s00181-015-0988-x
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    ABSTRACT: This paper evaluates the fiscal sustainability hypothesis for eight Latin American countries for the period 1960–2009: Argentina, Chile, Colombia, Ecuador, Panama, Peru, Paraguay and Uruguay. Using second generation cointegration panel data models, we test whether government revenues and primary expenditures are sustainable in the long run. This methodology allows for cross-sectional dependence among countries and is appropriate under the existence of potential structural breaks. We found empirical evidence of fiscal sustainability for these Latin American countries but only in a weak sense.
    Empirical Economics 01/2015; Forthcoming.
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    ABSTRACT: Measuring the effect of technological activities on productivity growth is an issue that attracted much attention in recent works on empirical econometric studies. Specifically, in the field of regional economics, several attempts have been made in order to quantify the contribution of R&D to labor productivity growth at a regional scale, considering both the internal R&D and the effects obtained by geographical spillovers. The results obtained, however, are characterized by a huge variability and in many cases there is no empirical evidence of positive contributions of R&D activities to productivity growth. Our argument is that this can be a consequence of dealing with samples’ affect by a high level of collinearity. This paper proposes the use of the data-weighted prior (DWP) estimator suggested by Golan (J Econom 101:165–193, 2001 ). The main advantage of this estimator is that it discriminates between relevant and irrelevant regressors better than other estimators when dealing with highly collinear samples. We evaluate the performance of the DWP estimator by Monte Carlo simulations and illustrate how it works by means of a real-world example
    Empirical Economics 09/2014; 47(2):47. DOI:10.1007/s00181-013-0759-5
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    ABSTRACT: This paper investigates the size distortions of HCCME-based tests for serial correlation and the wild bootstrapped counterparts in the presence of asymmetric conditional heteroskedasticity. Thereby, asymmetric effects are allowed to enter the residual process of the dynamic regression model in both the GARCH parameterization and the innovation process. Monte Carlo evidence reported in this paper indicates that wild bootstrap versions of the LM test for serial correlation tend to overreject the null hypothesis, but the problem is generally not very serious.
    Empirical Economics 05/2014; 48(3). DOI:10.1007/s00181-014-0817-7
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    ABSTRACT: This paper employs smooth transition trend models to investigate the long-run time series behavior of quarterly US labor force participation rates. In particular, we examine whether long-run growth in labor force participation rates can be modeled by smooth transitions between states rather than as abrupt mean level changes or as a stochastic trend. Smooth transitions permit for non-instantaneous adjustment of individual workers to changes associated with economic events or general labor market conditions. We employ unit root testing procedures with alternatives characterized by stationary fluctuations around one or two smooth transitions in linear trend. We examine labor force participation rates by gender- and age-specific groups. The results indicate that all female and most male participation series are better characterized as stationary processes that undergo transitional deterministics.
    Empirical Economics 03/2014; DOI:10.1007/s00181-013-0690-9