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In the literature, several approaches have been taken to measure the impact of demographic ageing on public pension schemes, with particular attention being paid to potential fiscal imbalances across the generations involved in demographic transition. In this paper, we review three of these...
Persistent link: https://www.econbiz.de/10005765993
Measured rates of growth in real per capita income differ drastically depending on the data source. This phenomenon occurs largely because data sets differ in whether and how they adjust for changes in relative prices across countries. Replication of several recent studies of growth determinants...
Persistent link: https://www.econbiz.de/10005181475
to the share of the term in office elapsed, political and regime instability, the occurrence of elections, and inflation … independence. This is confirmed in models for cross-section inflation in which TOR becomes insignificant once its endogeneity is …
Persistent link: https://www.econbiz.de/10005765668
The effect of a permanent change of inflation on the distribution of wealth is analyzed in a general equilibrium OLG … of inflation results in a lower stock market participation rate; in addition, the distribution of wealth becomes more … anticipated inflation are considerably lower than in Imrohoroglu (1992). …
Persistent link: https://www.econbiz.de/10005765683
. Therefore, in periods with inflation generous tax depreciation provisions do not adequately promote private investment as … designed, but partly compensate such losses caused by inflation. …
Persistent link: https://www.econbiz.de/10005765776
This paper reviews the literature on the effects of low steady-state inflation on wage formation, focusing on four … different effects. First, under low inflation, downward nominal wage rigidity (DNWR) may prevent real wage cuts that would have … happened had inflation been higher. Second, wages (and prices) are given in nominal contracts, and inflation affects both how …
Persistent link: https://www.econbiz.de/10005765778
root of different inflation rates in Europe including the EU-27. Among others, we study the structural and cyclical factors … descriptive statistics. Subsequently, we set out the possible mismatches between price level convergence and inflation rates … factors on observed inflation rates first in an accounting framework and then by relying on panel estimations. Our estimation …
Persistent link: https://www.econbiz.de/10005765781
This paper explores the impact of the exchange rate regime on inflation and output in the Central and Eastern European … exchange rate stability have a better explanatory power than the de jure measures in the inflation and growth equations. For … the whole observation period the estimations reveal a significant impact of exchange rate stability on low inflation as …
Persistent link: https://www.econbiz.de/10005766042
rate policy helps to reconcile the inflation and output persistence with empirical observations for the US economy. We show … findings for the inflation inertia in a model with capital adjustment costs and variable capacity utilization, the output …
Persistent link: https://www.econbiz.de/10005766166
-shaped relation between the membership size of MPCs and inflation; our results suggest that the lowest level of inflation is reached … at MPCs with about seven to ten members. Similar results are obtained for other measures, such as inflation variability …
Persistent link: https://www.econbiz.de/10005766195