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Modelos econométricos dinámicos y desarrollo económico: Análisis del salario real, la productividad y el empleo en los países de la OCDE, 1965-2005

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Author Info
Guisan, M.C. ()

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Abstract

In order to analyses the propagation effect, which is of great importance in the analysis of dynamic relationships in studies of Economic Development, here we present a classification of dynamic models, having into account several situations retarding this important effect, including not only models with lags but also models without explicit lags but with propagation effect through one stock variable, as it happens in the case of the production function when real Gdp is explained by the supply side of primary inputs. We present a comparison of several dynamic specifications, including models in levels, in first differences, mixed dynamic models and Error Correction Models, to wages, productivity, employment and GDP in Spain and other OECD countries. The main conclusion regarding the dynamic model specification is that the mixed dynamic model is a good choice for many econometric applications.

Analizamos el efecto propagación, que es de gran importancia en el análisis de relaciones dinámicas en estudios de desarrollo económico, y para ello presentamos una clasificación de los modelos dinámicos, teniendo en cuenta varias situaciones e incluyendo no sólo modelos con retardos sino también modelos sin retardos explícitos donde el efecto propagación se transmite a través de una variable stock, como es el caso de la función de producción cuando el PIB real es explicado por el lado de la oferta de inputs primarios. Presentamos una comparación de varias especificaciones dinámicas, incluyendo modelos en niveles, en primeras diferencias, dinámico mixto, y modelos de corrección de error, CE, aplicadas a los salarios, productividad, empleo y PIB en España y en otros países de la OCDE. La principal conclusión en relación con la especificación dinámica es que el modelo dinámico mixto as una buena elección en muchas aplicaciones econométricas.

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Publisher Info
Paper provided by University of Santiago de Compostela. Faculty of Economics and Business. Econometrics. in its series Economic Development with number 96.

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Length: 25 pages
Date of creation: 2007
Date of revision:
Handle: RePEc:eaa:ecodev:96

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Find related papers by JEL classification:
B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation and Testing
O51 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - U.S.; Canada
E2 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment
E24 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution
O52 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Europe
O57 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries

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