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Glitz, Albrecht - CESifo - 2013

This paper studies the effect of coworker-based networks on individual labour market outcomes. I analyse how the provision of labour market relevant information by former coworkers affects the employment probabilities and, if hired, the wages of male workers who have previously become unemployed...

Persistent link: https://www.econbiz.de/10010660137

China’s Exchange Rate and International Adjustment in Wages, Prices, and Interest Rates: Japan Déjà Vu?

McKinnon, Ronald Ian; Schnabl, Gunther - CESifo - 2006

China keeps its exchange rate tightly fixed to the dollar. Its productivity growth and trade surplus have been high, and it continues to accumulate large dollar reserves. Many observers take this as evidence that the renminbi is undervalued and should be appreciated to reduce the Chinese trade...

Persistent link: https://www.econbiz.de/10005765836

Temporary Layoffs and Unemployment Insurance: Is Experience Rating Desirable?

Fath, Julia; Fuest, Clemens - CESifo - 2002

This paper explores how the introduction of an experience rated system of unemployment insurance affects employment and … welfare in a model where implicit contracts between firms and workers give rise to wage rigidities and unemployment. In the … literature, it has been argued that experience rated systems of unemployment insurance may reduce long term employment as firms …

Persistent link: https://www.econbiz.de/10005766210

Effects of Immigration on Labour Markets and Government Budgets - An Overview

Leibfritz, Willi; O'Brien, Paul; Dumont, Jean-Christophe - CESifo - 2003

The paper provides an overview on recent trends of immigration in OECD countries and on the possible effects of immigration on labour markets and government budgets. It also discusses migration policies from an economic point of view. By bringing together a bulk of international literature on...

Persistent link: https://www.econbiz.de/10005181484

Betting the House

Jordà, Òscar; Schularick, Moritz; Taylor, Alan M. - CESifo - 2014

Is there a link between loose monetary conditions, credit growth, house price booms, and financial instability? This paper analyzes the role of interest rates and credit in driving house price booms and busts with data spanning 140 years of modern economic history in the advanced economies. We...

Persistent link: https://www.econbiz.de/10011105367

Migration, Capital Formation, and House Prices

Grossmann, Volker; Schäfer, Andreas; Steger, Thomas - CESifo - 2013

We investigate the effects of interregional labor market integration in a two-sector, overlapping-generations model with land-intensive production in the non-tradable goods sector (housing). To capture the response to migration on housing supply, capital formation is endogenous, assuming that...

Persistent link: https://www.econbiz.de/10010627564

Holes in the Dike: The Global Savings Glut, U.S. House Prices and the Long Shadow of Banking Deregulation

Hoffmann, Mathias; Stewen, Iryna - CESifo - 2015

We explore empirically how capital inflows into the US and financial deregulation within the United States interacted in driving the run-up (and subsequent decline) in US housing prices over the period 1990-2012. To obtain an ex ante measure of financial liberalization, we focus on the history...

Persistent link: https://www.econbiz.de/10011272618

No Price Like Home: Global House Prices, 1870-2012

Knoll, Katharina; Schularick, Moritz; Steger, Thomas - CESifo - 2014

How have house prices evolved over the long-run? This paper presents annual house prices for 14 advanced economies since 1870. Based on extensive data collection, we show that real house prices stayed constant from the 19th to the mid-20th century, but rose strongly during the second half of the...

Persistent link: https://www.econbiz.de/10011264744

Monetary Policy Transmission and House Prices: European Cross-country Evidence

Carstensen, Kai; Hülsewig, Oliver; Wollmershäuser, Timo - CESifo - 2009

This paper explores the importance of housing and mortgage market heterogeneity in 12 European countries for the transmission of monetary policy. We use a panel VAR model which is estimated over the period 1995–2006 to generate impulse responses of key macroeconomic variables to a monetary...

Persistent link: https://www.econbiz.de/10005010145

Real Convergence, Price Level Convergence and Inflation Differentials in Europe

Egert, Balázs - CESifo - 2007

This paper provides a comprehensive review of the factors that can cause price levels to diverge and which are at the root of different inflation rates in Europe including the EU-27. Among others, we study the structural and cyclical factors influencing market and non-market-based service, house...

Persistent link: https://www.econbiz.de/10005765781

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