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Cognitive Ability, Character Skills, and Learning to Play Equilibrium: A Level-k Analysis
Gill, David; Prowse, Victoria L. - Institute for the Study of Labor (IZA) - 2014
of play towards Nash equilibrium in repeated strategic interactions. We study behavior in a p-beauty contest experiment …
Persistent link: https://www.econbiz.de/10010886141
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China's High Saving Puzzle
Ma, Guonan; Yang, Dennis T. - Institute for the Study of Labor (IZA) - 2013
This paper analyzes the causes of rising savings rates for the corporate, government, and household sectors, which have jointly contributed to the upsurge in aggregate savings in China in the past two decades. Government policies to rebalance the Chinese economy are also explored.
Persistent link: https://www.econbiz.de/10010791521
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Aggregate Savings and External Imbalances in China
Yang, Dennis T. - Institute for the Study of Labor (IZA) - 2012
Over the last decade, the internal and external macroeconomic imbalances in China have risen to unprecedented levels. In 2008, China's national savings rate soared to over 53 percent of its GDP, whereas its current account surplus exceeded 9 percent of GDP. The current paper presents a unified...
Persistent link: https://www.econbiz.de/10010791526
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Downward Nominal Wage Rigidity in Europe: An Analysis of European Micro Data from the ECHP 1994-2001
Knoppik, Christoph; Beissinger, Thomas - Institute for the Study of Labor (IZA) - 2005
This paper substantially extends the limited available evidence on existence and extent of downward nominal wage rigidity in the European Union and the Euro Area. For this purpose we develop an econometric multi-country model based on Kahn’s (1997) histogram-location approach and apply it to...
Persistent link: https://www.econbiz.de/10005822909
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Current Account Imbalances and Structural Adjustment in the Euro Area: How to Rebalance Competitiveness
Zemanek, Holger; Belke, Ansgar; Schnabl, Gunther - Institute for the Study of Labor (IZA) - 2009
Low international competitiveness of a set of euro area countries, which have become evident by large current account deficits and rising risk premiums on government bonds, is one of the most challenging economic policy issues for Europe. We analyse the role of private restructuring and public...
Persistent link: https://www.econbiz.de/10008632737
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Understanding Inter-Industry Wage Structures in the Euro Area
Genre, Véronique; Kohn, Karsten; Momferatou, Daphne - Institute for the Study of Labor (IZA) - 2009
This paper focuses on the euro area wage structure and its potential determinants from a sectoral viewpoint. Merging information from the OECD Structural Analysis database with data from the EU Labour Force Survey, we construct a cross-country panel of 22 industries in 8 euro area countries for...
Persistent link: https://www.econbiz.de/10005703494
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Macroeconomic Volatilities and the Labor Market: First Results from the Euro Experiment
Merkl, Christian; Schmitz, Tom - Institute for the Study of Labor (IZA) - 2010
This paper analyzes the effects of different labor market institutions on inflation and output volatility. The eurozone … offers an unprecedented experiment for this exercise: since 1999, no national monetary policies have been implemented that … theory. While labor market institutions have a large effect on output volatility, they do not seem to have much of an effect …
Persistent link: https://www.econbiz.de/10008611512
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Capital Prices and Eurozone Competitiveness Differentials
Askenazy, Philippe - Institute for the Study of Labor (IZA) - 2013
Competitiveness differentials are blamed for the instability of the Eurozone. Most of the analyses focus on labour …
Persistent link: https://www.econbiz.de/10010627845
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Migration as an Adjustment Mechanism in the Crisis? A Comparison of Europe and the United States
Jauer, Julia; Liebig, Thomas; Martin, John P.; Puhani, … - Institute for the Study of Labor (IZA) - 2014
disparities, in particular within the Eurozone where there is no exchange-rate mechanism available to play this role. We shed some … be absorbed by migration within a year. However, in the Eurozone the reaction mainly stems from migration of third …-country nationals. Even within the group of Eurozone nationals, a significant part of the free mobility stems from immigrants from third …
Persistent link: https://www.econbiz.de/10010884205
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Real Unit Labour Costs in Eurozone Countries: Drivers and Clusters
Ordóñez, Javier; Sala, Hector; Silva, José I. - Institute for the Study of Labor (IZA) - 2014
We examine the trajectories of the real unit labour costs (RULCs) in a selection of Eurozone economies. Strong …
Persistent link: https://www.econbiz.de/10010884247