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Does Immigration Affect the Phillips Curve? Some Evidence for Spain

Bentolila, Samuel; Dolado, Juan Jose; Jimeno, Juan F. - CESifo - 2007

Spain over this period. We show that the New Keynesian Phillips curve is shifted by immigration if natives’ and immigrants …’ labor supply or bargaining power differ. Estimation of the curve for Spain indicates that the fall in unemployment since …The Phillips curve has flattened in Spain over 1995-2006: unemployment has fallen by 15 percentage points, with roughly …

Persistent link: https://www.econbiz.de/10005765714

The Inflationary Impact of Wage Indexation

Heinemann, Frank - CESifo - 2003

It is an open question whether and how indexed wage contracts reduce welfare or raise average inflation. This paper analyzes the impact of indexed wage contracts on inflation and social welfare in a Barro–Gordon model with discretionary monetary policy by endogenizing social costs of...

Persistent link: https://www.econbiz.de/10005181264

The New Keynesian Phillips Curve and the Role of Expectations: Evidence from the Ifo World Economic Survey

Henzel, Steffen; Wollmershäuser, Timo - CESifo - 2006

We provide evidence on the fit of the hybrid New Keynesian Phillips curve for selected euro zone countries, the US and the UK. Instead of imposing rational expectations and estimating the Phillips curve by the Generalized Method of Moments, we follow Roberts (1997) and Adam and Padula (2003) and...

Persistent link: https://www.econbiz.de/10005181411

Has the EMU Reduced Wage Growth and Unemployment? Testing a Model of Trade Union Behaviour

Mikosch, Heiner; Sturm, Jan-Egbert - CESifo - 2011

By using a model of trade union behaviour Grüner (2010) argues that the introduction of the European Monetary Union (EMU) led to lower wage growth and lower unemployment in participating countries. Following Grüner’s model, monetary centralization lets the central bank react less flexibly to...

Persistent link: https://www.econbiz.de/10009020101

Hyperbolic Discounting and Positive Optimal Inflation

Graham, Liam; Snower, Dennis - CESifo - 2011

The Friedman rule states that steady-state welfare is maximized when there is deflation at the real rate of interest. Recent work by Khan et al (2003) uses a richer model but still finds deflation optimal. In an otherwise standard new Keynesian model we show that, if households have hyperbolic...

Persistent link: https://www.econbiz.de/10009024848

Wage Indexation and the Monetary Policy Regime

Schryder, Selien De; Peersman, Gert; Wauters, Joris - CESifo - 2014

We estimate a New Keynesian wage Phillips curve for a panel of 24 OECD countries, and allow the degree of wage indexation to past inflation to vary according to the monetary policy regime. We find that the extent of wage indexation is significantly lower in an inflation targeting regime, in...

Persistent link: https://www.econbiz.de/10011096353

Immmigration and Internal Mobility in Canada

Beine, Michel; Coulombe, Serge - CESifo - 2014

suggests that, in general, the impact of immigration on labor market conditions depends critically on the way immigrants are …

Persistent link: https://www.econbiz.de/10010877684

Immigration, Growth and Unemployment: Panel VAR Evidence from OECD Countries

Boubtane, Ekrame; Coulibaly, Dramane; Rault, Christophe - CESifo - 2013

This paper examines empirically the interaction between immigration and host country economic conditions. We employ …

Persistent link: https://www.econbiz.de/10010877796

Immigration, Search, and Redistribution: A Quantitative Assessment of Native Welfare

Battisti, Michele; Felbermayr, Gabriel J.; Peri, Giovanni; … - CESifo - 2014

We study the effects of immigration on native welfare in a general equilibrium model featuring two skill types, search … studied, immigration attenuates the effects of search frictions. These gains tend to outweigh the welfare costs of … redistribution. Immigration has increased native welfare in almost all countries. Both high-skilled and low-skilled natives benefit …

Persistent link: https://www.econbiz.de/10010948823

Student and Graduate Migration and its Effect on the Financing of Higher Education

Haussen, Tina; Uebelmesser, Silke - CESifo - 2014

The number of tertiary students enrolled outside their home country has almost doubled in the last decade. In higher education systems that are partly tax-funded, a country’s labor force might not be willing to subsidize the education of foreign students who can be expected to work abroad...

Persistent link: https://www.econbiz.de/10010948890