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The Inflationary Impact of Wage Indexation

Heinemann, Frank - CESifo - 2003

calls for non–indexed wage contracts and a central banker with balanced aspiration levels of employment and real wages. In …

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

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

Does Immigration Affect the Phillips Curve? Some Evidence for Spain

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

The Phillips curve has flattened in Spain over 1995-2006: unemployment has fallen by 15 percentage points, with roughly constant inflation. This change has been more pronounced than elsewhere. We argue that this stems from the immigration boom in Spain over this period. We show that the New...

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

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

centralization lets the central bank react less flexibly to national business cycle movements. This increases the amplitude of …

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

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

The Globalization Paradox Revisited

Schwerhoff, Gregor; Edenhofer, Ottmar - CESifo - 2014

According to the Globalization Paradox, globalization limits the freedom of choice for national governments. Capital …. Fixed factor taxes have the potential to improve welfare by defusing the globalization trilemma through a reduction in the …

Persistent link: https://www.econbiz.de/10010877683

'Globesity'? The Effects of Globalization on Obesity and Caloric Intake

Costa-i-Font, Joan; Mas, Núria - CESifo - 2014

This study considers the effects of globalization, in its economic and social dimensions, on obesity and caloric intake … globalization and both obesity and caloric intake. A one standard deviation increase in globalization is associated with a 20 … social globalization, and specifically the effects of changes in information flows and social proximity. A one standard …

Persistent link: https://www.econbiz.de/10010948886

International Trade, Factor Mobility and the Persistence of Cultural-Institutional Diversity

Belloc, Marianna; Bowles, Samuel - CESifo - 2009

Cultural and institutional differences among nations may result in differences in the ratios of marginal costs of goods in autarchy and thus be the basis of specialization and comparative advantage, as long as these differences are not eliminated by trade. We provide an evolutionary model of...

Persistent link: https://www.econbiz.de/10005013942

Capital Importers Pay More for their Imports

Adam, Antonis; Moutos, Thomas - CESifo - 2012

We examine the effects that a country’s net capital flows have on the (border) prices that a country pays for its imports of goods. Using data from 2000 to 2009 for 11 euro area countries we utilize a pricing-to-market specification to study exporters’ pricing behavior to the rest of the...

Persistent link: https://www.econbiz.de/10009645628

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