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Unit Labor Cost Growth Differentials in the Euro Area, Germany, and the US: Lessons from PANIC and Cluster Analysis
Fritsche, Ulrich; Kuzin, Vladimir N. - 2007
Inflation differentials in the Euro area are mainly due to a sustained divergence of wage developments across the Euro area, and narrower differences in labour productivity growth (Alvarez et al., 2006). We investigate convergence of inflation using unit labour cost (ULC) growth and applying...
Persistent link: https://www.econbiz.de/10010260899
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Asymmetric monetary policy effects in Germany
Tober, Silke; Kuzin, Vladimir N. - 2004
In a small structural model we find asymmetries in the effects of monetary policy in Germany depending on whether the …
Persistent link: https://www.econbiz.de/10010274488
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Declining Output Volatility in Germany : Impulses, Propagation, and the Role of Monetary Policy
Fritsche, Ulrich; Kuzin, Vladimir N. - 2004
We analyse the decline in output volatility in Germany. A lower level of variance in an autoregressive model of output … error term variance (reduced impulses). In Germany the decline output volatility is due to a decline in the persistence of … sudden break. The evolution of Germany's short-term real interest rate volatility coincides with the change of the …
Persistent link: https://www.econbiz.de/10010274489