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Hyperbolic Discounting and Positive Optimal Inflation

Graham, Liam; Snower, Dennis J. - Institute for the Study of Labor (IZA) - 2011

The Friedman rule states that steady-state welfare is maximized when there is deflation at the real rate of interest. Recent work by Khan et al (2003) uses a richer model but still finds deflation optimal. In an otherwise standard new Keynesian model we show that, if households have hyperbolic...

Persistent link: https://www.econbiz.de/10009021640

Optimal Price Indices for Targeting Inflation under Incomplete Markets

Anand, Rahul; Prasad, Eswar - Institute for the Study of Labor (IZA) - 2010

In models with complete markets, targeting core inflation enables monetary policy to maximize welfare by replicating the flexible price equilibrium. In this paper, we develop a two-sector two-good closed economy new Keynesian model to study the optimal choice of price index in markets with...

Persistent link: https://www.econbiz.de/10008531751

Vertical Industry Relations, Spillovers and Productivity: Evidence from Chilean Plants

López, Ricardo A; Suedekum, Jens - Institute for the Study of Labor (IZA) - 2007

We use disaggregated data on Chilean plants, and the Chilean input-output table to examine the impact of agglomeration spillovers on total factor productivity (TFP). In common with previous studies, we find evidence of intra-industry spillovers, but no evidence of crossindustry spillovers in...

Persistent link: https://www.econbiz.de/10005822285

The Impact of Adolescent Motherhood on Education in Chile

Berthelon, Matias; Kruger, Diana - Institute for the Study of Labor (IZA) - 2014

We analyze the effect of having a child in adolescence on high school completion, educational attainment, and college enrollment in a developing country setting using nine repeated rounds of Chilean household surveys that span the 1990–2009 period. We control for selection bias and household...

Persistent link: https://www.econbiz.de/10010884092

Tackling Social Exclusion: Evidence from Chile

Carneiro, Pedro; Galasso, Emanuela; Ginja, Rita - Institute for the Study of Labor (IZA) - 2014

We study an innovative welfare program in Chile which combines a period of frequent home visits to households in …

Persistent link: https://www.econbiz.de/10010884317

Adolescent Motherhood and Secondary Schooling in Chile

Kruger, Diana; Berthelon, Matias; Navia, Rodrigo - Institute for the Study of Labor (IZA) - 2009

in Chile. Using eight rounds of household surveys, we find that adolescents who were born to teen mothers, those that …

Persistent link: https://www.econbiz.de/10008574581

Delaying the Bell: The Effects of Longer School Days on Adolescent Motherhood in Chile

Kruger, Diana; Berthelon, Matias - Institute for the Study of Labor (IZA) - 2009

opportunities to engage in risky sexual behaviors. Using Chile's socio-economic household surveys and administrative data from the …

Persistent link: https://www.econbiz.de/10008574585

How Did the Great Recession Affect Different Types of Workers? Evidence from 17 Middle-Income Countries

Cho, Yoonyoung; Newhouse, David - Institute for the Study of Labor (IZA) - 2011

This paper examines how different types of workers in 17 middle-income countries were affected by labor market retrenchment during the great recession. Impacts on different types of workers varied by country and were only weakly related to the severity of the shock. Among active workers, youth...

Persistent link: https://www.econbiz.de/10009003937

Wage Rigidity and Disinflation in Emerging Countries

Messina, Julián; Sanz-de-Galdeano, Anna - Institute for the Study of Labor (IZA) - 2011

, Brazil and Uruguay, relying on high quality matched employer-employee administrative data. Downward nominal wage rigidities … are more important in Uruguay, while wage indexation is dominant in Brazil. Two regime changes are observed during the … more pronounced; and (ii) in Brazil, the introduction of inflation targeting by the Central Bank in 1999 shifts the focal …

Persistent link: https://www.econbiz.de/10009149154

International Financial Integration and Real Exchange Rate Long-Run Dynamics in Emerging Countries: Some Panel Evidence

Caporale, Guglielmo Maria; Hadj Amor, Thouraya; Rault, … - Institute for the Study of Labor (IZA) - 2009

The aim of this paper is to provide new empirical evidence on the impact of international financial integration on the long-run Real Exchange Rate (RER) in 39 developing countries belonging to three different geographical regions (Latin America, Asia and MENA). It covers the period 1979-2004,...

Persistent link: https://www.econbiz.de/10005762383