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Inflation Persistence and the Phillips Curve Revisited
Karanassou, Marika; Snower, Dennis J. - Institute for the Study of Labor (IZA) - 2007
A major criticism against staggered nominal contracts is that they give rise to the so called "persistency puzzle" - although they generate price inertia, they cannot account for the stylised fact of inflation persistence. It is thus commonly asserted that, in the context of the new Phillips...
Persistent link: https://www.econbiz.de/10005703349
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Labor Market Developments in China: A Neoclassical View
Ge, Suqin; Yang, Dennis - Institute for the Study of Labor (IZA) - 2010
This paper assesses the applicability of two alternative theories in understanding labor market developments in China: the classical view featuring a Lewis turning point in wage growth versus a neoclassical framework emphasizing rational choices of individuals and equilibrating forces of the...
Persistent link: https://www.econbiz.de/10008764578
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Inflation, Minimum Wage and Other Wages: An Econometric Study on French Macroeconomic Data
L'Horty, Yannick; Rault, Christophe - Institute for the Study of Labor (IZA) - 2003
This paper examines the set of interdependences between the formation of wages, prices and the minimum wage (SMIC) through a vectorial error correction model estimated on French quarterly macroeconomic data covering the 1970-1/1999-4 period. Two periods are distinguished: the period of inflation...
Persistent link: https://www.econbiz.de/10005233863
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Does Downward Nominal Wage Rigidity Dampen Wage Increases?
Stüber, Heiko; Beissinger, Thomas - Institute for the Study of Labor (IZA) - 2010
Focusing on the compression of wage cuts, many empirical studies find a high degree of downward nominal wage rigidity (DNWR). However, the resulting macroeconomic effects seem to be surprisingly weak. This contradiction can be explained within an intertemporal framework in which DNWR not only...
Persistent link: https://www.econbiz.de/10008466463
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Receiving Countries' Perspectives: The Case of Sweden
Gerdes, Christer; Wadensjö, Eskil - Institute for the Study of Labor (IZA) - 2014
Sweden has made its labour market more open for labour immigration since the mid1990s: becoming member of the common … rather stable in the years after the crisis in 2008. The main explanation is most likely that the recession in Sweden was … were employed. If the present EMU crisis is spreading to Sweden the result may of course be different. …
Persistent link: https://www.econbiz.de/10010959693
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Top Incomes in Sweden during Three-Quarters of a Century: A Micro Data Approach
Gustafsson, Bjorn; Jansson, Birgitta - Institute for the Study of Labor (IZA) - 2007
This paper aims to throw light on the development of top incomes in Sweden as well as the causes for change. Using …
Persistent link: https://www.econbiz.de/10005566392
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Fiscal Policy, Interest Rate Spreads, and the Zero Lower Bound
Bredemeier, Christian; Juessen, Falko; Schabert, Andreas - Institute for the Study of Labor (IZA) - 2015
This paper questions unconventional fiscal policy effects when the monetary policy rate is at the zero lower bound. We provide evidence for the US that the spread between the policy rate and the US-LIBOR, which is more relevant for private sector transactions, increases with government...
Persistent link: https://www.econbiz.de/10011265653
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Automatic Stabilizers and Economic Crisis: US vs. Europe
Dolls, Mathias; Fuest, Clemens; Peichl, Andreas - Institute for the Study of Labor (IZA) - 2009
This paper analyzes the effectiveness of the tax and transfer systems in the European Union and the US to act as an automatic stabilizer in the current economic crisis. We find that automatic stabilizers absorb 38 per cent of a proportional income shock in the EU, compared to 32 per cent in the...
Persistent link: https://www.econbiz.de/10005015490
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Automatic Stabilizers, Economic Crisis and Income Distribution in Europe
Dolls, Mathias; Fuest, Clemens; Peichl, Andreas - Institute for the Study of Labor (IZA) - 2010
This paper investigates to what extent the tax and transfer systems in Europe protect households at different income levels against losses in current income caused by economic downturns like the present financial crisis. We use a multi country micro simulation model to analyse how shocks on...
Persistent link: https://www.econbiz.de/10008506088
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Wie wirken die automatischen Stabilisatoren in der Wirtschaftskrise? Deutschland im Vergleich mit der EU und den USA
Dolls, Mathias; Fuest, Clemens; Peichl, Andreas - Institute for the Study of Labor (IZA) - 2009
Dieser Beitrag vergleicht die automatischen Stabilisierungswirkungen der Steuer- und Transfersysteme in der Europäischen Union und in den USA in der aktuellen Wirtschaftskrise. Dazu werden zwei Szenarien simuliert: erstens ein proportionaler Einkommensschock, in dem alle Bruttoeinkommen um 5...
Persistent link: https://www.econbiz.de/10008550505