Showing 1 - 10 of 67
This paper studies how key labor market stylized facts and the responses of labor market variables to technology shocks vary over the US postwar period.  It uses a benchmark DSGE model enriched with labor market frictions and investment specific technological progress that enables a novel...
Persistent link: https://www.econbiz.de/10011004380
Standard open economy models predict that openness to trade should exert a positive effect on the slope of the output-inflation …
Persistent link: https://www.econbiz.de/10010605006
inflation dynamics in open economies, but previous studies have not made a distinction between fixed and floating exchange rate … driving output and inflation (the underlying theory requires that monetary shocks dominate). We calculate new measures of the …
Persistent link: https://www.econbiz.de/10010605043
In this paper we introduce a small Keynesian model of economic growth which is centered around two advanced types of Phillips curves, one for money wages and one for prices, both being augmented by perfect myopic foresight and supplemented by a measure of the medium-term inflationary climate...
Persistent link: https://www.econbiz.de/10010605118
This paper studies the distributional impact of commodity price shocks over both the short and very long run.  Using a GARCH model, we find that Australia experienced more volatility than many commodity exporting developing countries over the periods 1865-1940 and 1960-2007.  A single equation...
Persistent link: https://www.econbiz.de/10011159026
Many previous studies of the role of trade during the British Industrial Revolution have found little or no role for trade in explaining British living standards or growth rates.  We construct a three-region model of the world in which Britain trades with North America and the rest of the...
Persistent link: https://www.econbiz.de/10011194334
While the impact of globalization on income inequality has received a lot of attention, little is known about its effect on the gender wage gap (GWG).  This study argues that there is a systematic difference in the GWG between exporting firms and non-exporters.  By the virtue of being exposed...
Persistent link: https://www.econbiz.de/10011196720
This paper examines the trade and trade-induced welfare effects of high oil prices. Using a gravity model of trade we find that the distance elasticity of trade signif- icantly increases with the oil price. This suggests that high oil prices make trade less global. We estimate that an increase...
Persistent link: https://www.econbiz.de/10010820340
This paper analyses and quantifies the effects of trade liberalisation and skill-biased technical change, both exogenous and trade-induced, on the skill premium and real wages of unskilled and skilled workers in the Mexican manufacturing sector, using industry- and firm-level data for 1984-1990...
Persistent link: https://www.econbiz.de/10011004125
The causes of the USA's exceptional economic performance are investigated by comparing American wages and prices with wages and prices in Great Britain, Egypt, and India.  Habakkuk's views on the causes of American industrial pre-eminence are reassessed.  While the USA had abundant natural...
Persistent link: https://www.econbiz.de/10011004299