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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 …) framework by incorporating heterogeneity in nominal wage setting behavior among households. We solve this DSGE model and … 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

Aggregating Phillips Curves

Imbs, Jean; Jondeau, Eric; Pelgrin, Florian - C.E.P.R. Discussion Papers - 2007

typical estimations. In this paper, we show how heterogeneity in pricing behaviour is relevant to both questions. We detail … aggregate or microeconomic data, can be fully attributable to a heterogeneity bias. …

Persistent link: https://www.econbiz.de/10005662190

Trade and Entrepreneurship with Heterogeneous Workers

Oyama, Daisuke; Sato, Yasuhiro; Tabuchi, Takatoshi; … - C.E.P.R. Discussion Papers - 2007

This paper investigates the impacts of progressive trade openness, technological externalities, and heterogeneity of … make the symmetric equilibrium unstable, generating equilibrium multiplicity, while sufficient heterogeneity of individuals …

Persistent link: https://www.econbiz.de/10005662268

Revolutionary Effects of New Information Technologies

den Berg, Gerard J van - C.E.P.R. Discussion Papers - 2005

In markets with imperfect information and heterogeneity, the information technology affects the rate at which agents …

Persistent link: https://www.econbiz.de/10005788903

Heterogeneity in Consumer Price Stickiness: A Microeconometric Investigation

Fougère, Denis; Le Bihan, Hervé; Sevestre, Patrick - C.E.P.R. Discussion Papers - 2005

This paper examines heterogeneity in price stickiness using a large, original, set of individual price data collected …. The main findings are the following: i) cross-product and cross-outlet-type heterogeneity is pervasive, both in the shape …

Persistent link: https://www.econbiz.de/10005791301

The Real Effects of EMU

Lane, Philip R. - C.E.P.R. Discussion Papers - 2006

We explore the impact of European monetary union (EMU) on the economies of the member countries. While the annual dispersion in inflation rates have not been much different to the variation across US regions, inflation differentials in the euro area have been much more persistent, such that...

Persistent link: https://www.econbiz.de/10005791619

Combining Micro and Macro Unemployment Duration Data

den Berg, Gerard J van; van der Klaauw, Bas - C.E.P.R. Discussion Papers - 2000

We combine micro and macro unemployment duration data to study the effects of the business cycle on the outflow from unemployment. We allow the cycle to affect individual exit probabilities of unemployed workers as well as the composition of the total inflow into unemployment. We estimate the...

Persistent link: https://www.econbiz.de/10005791659

On Measuring the Costs of Labour Immobility and Market Heterogeneity in Europe

Demertzis, Maria; Hughes Hallett, Andrew - C.E.P.R. Discussion Papers - 1995

In this paper we evaluate the deterioration in the European sacrifice ratio implied (both in terms of inflation and unemployment) by the fact that labour markets are structurally different and there is very little labour mobility between the European Union countries. We also consider a wage...

Persistent link: https://www.econbiz.de/10005791716

Idiosyncratic and Common Shocks to Investment Decisions

Schankerman, Mark - C.E.P.R. Discussion Papers - 2001

actually due to heterogeneity in firm-level responses to aggregate shocks. Firms are able to diversify most idiosyncratic …

Persistent link: https://www.econbiz.de/10005791830

Trade, FDI and the Organization of Firms

Helpman, Elhanan - C.E.P.R. Discussion Papers - 2006

New developments in the world economy have triggered research designed to better understand the changes in trade and investment patterns, and the reorganization of production across national borders. Although traditional trade theory has much to offer in explaining parts of this puzzle, other...

Persistent link: https://www.econbiz.de/10005791842