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"In finding a career, workers tend to make numerous job changes, with the majority of 'complex' changes (i.e. those involving changes of industry) occurring relatively early in their working lives. This pattern suggests that workers tend to experiment with different types of work before settling...
Persistent link: https://www.econbiz.de/10002977389
"Through their influence on the cross-sectional distribution of productivity across firms and workers, job creation and destruction likely have an impact on the rate at which aggregate productivity changes over time. However, the nature of this effect is not, a priori, clear. While a broad...
Persistent link: https://www.econbiz.de/10003026876
"A major criticism of standard specifications of price adjustment in models for monetary policy analysis is that they violate the natural rate hypothesis by allowing output to differ from potential in steady state. In this paper we estimate a dynamic optimizing business cycle model whose...
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labor-market conditions. We find evidence that the relationship between wage inflation and the unemployment rate is convex …. With such convexity, wage inflation can occur when unemployment rates across regions become more disperse, even if the …
Persistent link: https://www.econbiz.de/10005490982
average inflation rate in an international cross-section. We find that inflationary regimes in certain countries are duration …
Persistent link: https://www.econbiz.de/10005360589
This paper advances the hypothesis that the transition from there-is-little-central-banks-can-do-to-control-inflation … to inflation targeting occurred because central banks, especially the Federal Reserve, demonstrated that central banks … can control inflation rather than a consequence of marked improvement in the professions understanding of how monetary …
Persistent link: https://www.econbiz.de/10005077875