Using a Bayesian structural vector autoregression (TVP-SVAR) with time-varying parameters and volatility we investigate monetary policy in the United States, in particular its interaction with the formation of inflation expectations and the linkages between monetary policy, inflation...

Through panel estimates using OECD country-industry statistics, this paper aims to clarify the determinants of rent creation and the mechanisms of rent sharing, and the role of market regulations in these processes. It uses a panel database of 4,136 observations, comprising industry-level data...

This study explores the factors driving the observed movements of the profit share in several major industrialised countries (France, Germany, United States, United Kingdom and Japan) over the period 1970-2000. Within the group of countries we study, both the level and the fluctuations of the...

Le partage de la valeur ajoutee en France et en Allemagne a connu d'importantes inflexions durant les 30 dernieres annees qui peuvent etre reliees aux fluctuations des termes de l'echange, a la progression du chomage ou encore a l'evolution des taux d'interet. Apres avoir derive une equation de...

Il est souvent avance que l'assiette actuelle des cotisations sociales, la masse salariale, pénalise l'emploi en rencherissant le coût du seul facteur travail et en incitant en conséquence les entreprises a substituer du capital au travail. Cette etude propose une caracterisation des...

Le partage de la valeur ajoutee en France et en Allemagne a connu d'importantes inflexions durant les 30 dernieres annees qui peuvent etre reliees aux fluctuations des termes de l'echange, a la progression du chomage ou encore a l'evolution des taux d'interet. Apres avoir derive une equation de...

Il est souvent avance que l'assiette actuelle des cotisations sociales, la masse salariale, penalise l'emploi en rencherissant le cout du seul facteur travail et en incitant en consequence les entreprises a substituer du capital au travail. Cette etude propose une caracterisation des entreprises...

In this paper, we show that the recent financial crisis has significantly affected the potential total factor productivity (TFP) of the four largest euro area economies, as well as that of the rest of the euro area. We used a reduced-form equation of TFP, based on an approach recently developed...

This paper provides an analysis of co-movements between real and financial variables in three new EU member countries (the Czech Republic, Hungary and Poland) and the euro area. It focuses on the co-movement between real credit granted to firms and real industrial output on the one hand, and...

Stock exchange industry consolidation is at work since many years and has recently accelerated through competition for order flows, agreements and mergers. However, consolidation may not mean that all shocks are transmitted to every place. Therefore, following Forbes and Rigobon (2002) we...