Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/237306 
Authors: 
Year of Publication: 
2020
Series/Report no.: 
CBM Working Papers No. WP/06/2020
Publisher: 
Central Bank of Malta, Valletta
Abstract: 
Over the recent years Malta has experienced a remarkable increase in its labour force due to a large influx of immigrants and an unprecedented increase in the domestic participation. Driven by the observation of such a phenomenon, this paper aims at assessing the impact of foreign and domestic labour supply shocks on the Maltese economy by estimating a number of structural vector autoregressions (VARs) identified through sign restrictions. The VARs are estimated by using data over the 2004Q1- 2019Q2 period and the results point toward a relevant impact of the identified shocks on domestic production, wages and unemployment as well as on a number of other key variables, e.g., government revenue and expenditure, rents and measures of productivity.
Subjects: 
Labour Supply Shocks
Structural VARs
Sign Restrictions
JEL: 
C11
C32
E32
Document Type: 
Working Paper

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