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PRODUCTIVITY AND JOB FLOWS HETEROGENEITY OF NEW HIRES AND CONTINUING JOBSIN THE BUSINESS CYCLE
Kilponen, Juha; Vanhala, Juuso - European Central Bank - 2009
"unemployment volatility puzzle". We let new matches andcontinuing jobs differ by their productivity levels and by their sensitivity …
Persistent link: https://www.econbiz.de/10005866471
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Inflation dynamics with labour market matching: assessing alternative specifications
Christoffel, Kai; Costain, James S.; De Walque, Gregory; … - European Central Bank - 2009
This paper reviews recent approaches to modeling the labour market and assessestheir implications for in‡ation dynamics through both their e¤ect on marginalcost and on price-setting behaviour. In a search and matching environment, weconsider the following modeling setups: right-to-manage...
Persistent link: https://www.econbiz.de/10005866597
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Public Pension, Pension Reform and Fiscal Policy.
Davis, E.P. - European Central Bank - 1996
This paper seeks to contribute to debate on the issue of reform of pension systems in the EU, in the context of the direct effects of such provisions on fiscal policy.
Persistent link: https://www.econbiz.de/10005780903
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Government spending volatility and the size of nations
Furceri, Davide; Poplawski Ribeiro, Marcos - European Central Bank - 2008
This paper provides empirical evidence showing that smaller countries tend to have more volatile government spending for a sample of 160 countries from 1960 to 2000. We argue that the larger size of a country decreases the volatility of government spending because it acts as an insurance against...
Persistent link: https://www.econbiz.de/10005222361
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On-the-job search and the cyclical dynamics of the labor market
Krause, Michael U.; Lubik, Thomas A. - European Central Bank - 2007
, this allows the model to generate fluctuations of unemployment, vacancies, and labor productivity whose magnitudes are …
Persistent link: https://www.econbiz.de/10005344958
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Sequential bargaining in a new-Keynesian model with frictional unemployment and staggered wage negotiation
de Walque, Gregory; Pierrard, Olivier; Sneessens, Henri; … - European Central Bank - 2009
We consider a model with frictional unemployment and staggered wage bargaining where hours worked are negotiated every … period. The workers’ bargaining power in the hours negotiation affects both unemployment volatility and inflation persistence … the new entrants wage rigidity required to match observed unemployment volatility. JEL Classification: E31, E32, E52, J64 …
Persistent link: https://www.econbiz.de/10005002791
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The impact of reference norms on inflation persistence when wages are staggered
Knell, Mark; Stiglbauer, Alfred - European Central Bank - 2009
In this paper we present an extension of the Taylor model with staggered wages inwhich wage-setting is also influenced by reference norms (i.e. by benchmark wages).We show that reference norms can considerably increase the persistence of inflationand the extent of real wage rigidity but that...
Persistent link: https://www.econbiz.de/10005866627
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Wage diversity in the euro area - an overview of labour cost differentials across industries
Genre, Véronique; Momferatou, Daphne; Mourre, Gilles - European Central Bank - 2005
This Paper provides an overview of the magnitude of sectoral wage differentials in the euro area as a whole. Even when adjusting for structural sectoral features such as the skill structure or the proportion of part-timers, average wage levels in services are substantially lower than in...
Persistent link: https://www.econbiz.de/10005162868
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What does European institutional integration tell us about trade integration?
Leiner-Killinger, Melanie; Madaschi, Christophe; … - European Central Bank - 2005
create disincentives to work, such as high tax wedges and high unemployment benefits, or enforced reductions in working hours …
Persistent link: https://www.econbiz.de/10005222260
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Fiscal behaviour in the European Union: rules, fiscal decentralization and government indebtedness
Afonso, António; Hauptmeier, Sebastian - European Central Bank - 2009
We assess the fiscal behaviour in the European Union countries for the period 1990-2005 via the responsiveness of budget balances to several determinants. The resultsshow that the existence of effective fiscal rules, the degree of public spendingdecentralization, and the electoral cycle can...
Persistent link: https://www.econbiz.de/10005866594