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Heterogeneity in Wage Setting Behavior in a New-Keynesian Model

Eijffinger, Sylvester C W; Grajales, Anderson; Uras, … - C.E.P.R. Discussion Papers - 2015

In this paper we estimate a New-Keynesian DSGE model with heterogeneity in price and wage setting behavior. In a recent … study, Coibion and Gorodnichenko (2011) develop a DSGE model, in which firms follow four different types of price setting … heterogeneity in wage rigidity, such as the persistence in price and the wage inflation, which a standard New Keynesian model with …

Persistent link: https://www.econbiz.de/10011249376

Why do within firm-product export prices differ across markets?

Görg, Holger; Halpern, László; Muraközy, Balázs - C.E.P.R. Discussion Papers - 2010

constant markups. The differences are important quantitatively; price differences in Hungarian exports between Germany and the …

Persistent link: https://www.econbiz.de/10008530371

Financial Integration: A New Methodology and an Illustration

Flood, Robert P; Rose, Andrew K - C.E.P.R. Discussion Papers - 2003

This Paper develops a simple new methodology to test for asset integration and applies it within and between American stock markets. Our technique is tightly based on a general intertemporal asset-pricing model, and relies on estimating and comparing expected risk-free rates across assets....

Persistent link: https://www.econbiz.de/10005497716

Takeovers and the Dynamics of Information Flows

Chemla, Gilles - C.E.P.R. Discussion Papers - 2003

This Paper analyses the effect of a possible takeover on information flows and on the terms of trade in business relationships. We consider a long-term relationship between a firm and a privately-informed stakeholder, a buyer for example. In our model, takeovers both increase the surplus from...

Persistent link: https://www.econbiz.de/10005662138

Currency Unions and International Integration

Engel, Charles M; Rose, Andrew K - C.E.P.R. Discussion Papers - 2001

This Paper characterizes the integration patterns of international currency unions (such as the CFA Franc zone and the East Caribbean Currency Area). We empirically explore different features of currency unions, and compare them both to countries with sovereign monies, and to regions within...

Persistent link: https://www.econbiz.de/10005666442

Estimating the Expected Marginal Rate of Substitution: Exploiting Idiosyncratic Risk

Flood, Robert P; Rose, Andrew K - C.E.P.R. Discussion Papers - 2004

This Paper develops a simple but general methodology to estimate the expected intertemporal marginal rate of substitution or ‘EMRS’, using only data on asset prices and returns. Our empirical strategy is general, and allows the EMRS to vary arbitrarily over time. A novel feature of our...

Persistent link: https://www.econbiz.de/10005656417

Making Democracy Work: Culture, Social Capital and Elections in China

Padró i Miquel, Gerard; Qian, Nancy; Xu, Yiqing; Yao, Yang - C.E.P.R. Discussion Papers - 2015

, such as elections. We collect new data to document the presence of voluntary and social organizations and the history of …

Persistent link: https://www.econbiz.de/10011213313

Growth, Colonization, and Institutional Development: In and Out of Africa

Bertocchi, Graziella - C.E.P.R. Discussion Papers - 2011

research agenda which accounts not only for basic economic and demographic factors, but also for the role of history and … institutional development. After reporting results from standard growth regressions, I analyze the role of Africa’s peculiar history …

Persistent link: https://www.econbiz.de/10009225960

The Long-Lived Effects of Historic Climate on the Wealth of Nations

Bluedorn, John; Valentinyi, Akos; Vlassopoulos, Michael - C.E.P.R. Discussion Papers - 2009

We investigate the long-run consequences of historic, climatic temperatures (1730-2000) for the modern cross-country income distribution. Using a newly constructed dataset of climatic temperatures stretching over three centuries (18th, 19th, and 20th), we estimate a robust and significant...

Persistent link: https://www.econbiz.de/10008491725

When the North Last Headed South: Revisiting the 1930s

Reinhart, Carmen M.; Reinhart, Vincent - C.E.P.R. Discussion Papers - 2010

The U.S recession of 2007 to 2009 is unique in the post-World-War-II experience by the broad company it kept. Activity contracted around the world, with the advanced countries of the North experiencing declines in spending normally the purview of the developing economies of the South. The last...

Persistent link: https://www.econbiz.de/10008468628