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Technology Shocks and Employment in Open Economies
Tervala, Juha - Institut für Weltwirtschaft (IfW) - 2007
A growing body of empirical evidence suggests that a positive technology shock leads to a temporary decline in employment. A two-country model is used to demonstrate that the open economy dimension can enhance the ability of sticky price models to account for the evidence. The reasoning is as...
Persistent link: https://www.econbiz.de/10005083337
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The Price-Price Phillips Curve in Small Open Economies and Monetary Unions: Theory and Empirics
Vaona, Andrea - Institut für Weltwirtschaft (IfW) - 2014
reactiveness of inflation to the unemployment rate. In regard to a monetary union, the national unemployment multiplier in the …
Persistent link: https://www.econbiz.de/10010886968
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Asymmetric exchange rate pass-through in the Euro area: New evidence from smooth transition models
Ben Cheikh, Nidhaleddine - Institut für Weltwirtschaft (IfW) - 2012
This paper examines the presence of asymmetric behavior in exchange rate pass-through (ERPT) to CPI inflation in 12 …
Persistent link: https://www.econbiz.de/10010956023
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Debt and Interest Rates: The U.S. and the Euro Area
Frankel, Jeffrey; Chinn, Menzie D. - Institut für Weltwirtschaft (IfW) - 2007
We find that real interest rates paid on government debt depend significantly upon current and expected future levels of debt, in Europe as in the US. But this result only emerges when we condition on foreign interest rates, illustrating financial international integration. The previously strong...
Persistent link: https://www.econbiz.de/10005083400
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Matching labor’s share in a search and matching model
Reicher, Christopher - Institut für Weltwirtschaft (IfW) - 2011
negative relationship between labor’s share and lagged productivity growth and inflation. I also evaluate the role of labor …
Persistent link: https://www.econbiz.de/10009292397
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What Can a New Keynesian Labor Matching Model Match?
Reicher, Christopher - Institut für Weltwirtschaft (IfW) - 2009
1980s. Based on the timing of observed fluctuations in interest rates, inflation, and productivity, it appears that the …
Persistent link: https://www.econbiz.de/10005700617
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Evaluating the performance of the search and matching model with sticky wages
Reicher, Christopher - Institut für Weltwirtschaft (IfW) - 2010
cycle volatility and matching the lack of a long-run relationship between vacancy creation and inflation. With regard to …
Persistent link: https://www.econbiz.de/10009021626
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Inflation Targeting Is a Success, So Far: 100 Years of Evidence from Swedish Wage Contracts
Fregert, Klas; Jonung, Lars - Institut für Weltwirtschaft (IfW) - 2008
Inflation targeting was adopted by several countries, including Sweden, in the 1990s. We evaluate the Swedish inflation …, we find that the inflation targeting regime of 1995?2008 stands out as an exceptionally stable policy regime as judged by …, inflation targeting gained instant credibility in the sense that the labor market organizations entered long-term wage …
Persistent link: https://www.econbiz.de/10005083376
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Expanding the welfare system : a proposal for reform
Orszag, Jonathan Michael; Snower, Dennis J. - Institut für Weltwirtschaft (IfW) - 1998
The proposal involves the establishment of ?welfare accounts? for every person in a country. There are to be four accounts: a retirement account (covering pensions), an unemployment account (covering unemployment support), a human capital account (covering education and training), and a health...
Persistent link: https://www.econbiz.de/10010955894
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Stylized facts on the interaction between income distribution and the Great Recession
Aiginger, Karl; Guger, Alois - Institut für Weltwirtschaft (IfW) - 2013
There are several narratives connecting the financial crisis - as well as the Great Depression of the 1930s - with the functional or personal income distribution and its pre-crisis movements. The paper investigates whether this claim can be supported with evidence showing that the crisis was...
Persistent link: https://www.econbiz.de/10010956124