Narrow search
Showing 1 - 10 of 381
Cover Image
China's Emergence in the World Economy and Business Cycles in Latin America
Cesa-Bianchi, Ambrogio; Pesaran, Hashem; Rebucci, Alessandro - Institute for the Study of Labor (IZA) - 2011
vividly illustrated. This paper investigates how changes in trade linkages between China, Latin America, and the rest of the … world shows that the long-term impact of a China GDP shock on the typical Latin American economy has increased by three … to Latin America and the rest of emerging Asia (excluding China and India) GDP has not undergone any significant change …
Persistent link: https://www.econbiz.de/10009225765
Cover Image
Identifying Regional Labor Demand Shocks Using Sign Restrictions
Juessen, Falko; Linnemann, Ludger - Institute for the Study of Labor (IZA) - 2012
We propose using sign restrictions to identify regional labor demand shocks in a panel VAR of US federal states. Observed migration responds significantly, but less persistently than the residual-based migration measure constructed by Blanchard and Katz (1992).
Persistent link: https://www.econbiz.de/10010884319
Cover Image
Amerisclerosis? The Puzzle of Rising U.S. Unemployment Persistence
Coibion, Olivier; Gorodnichenko, Yuriy; Koustas, Dmitri - Institute for the Study of Labor (IZA) - 2013
The persistence of U.S. unemployment has risen with each of the last three recessions, raising the specter that future U.S. recessions might look more like the Eurosclerosis experience of the 1980s than traditional V-shaped recoveries of the past. In this paper, we revisit possible explanations...
Persistent link: https://www.econbiz.de/10010709718
Cover Image
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
Cover Image
Nominal Wage Rigidities in a New Keynesian Model with Frictional Unemployment
Bodart, Vincent; Walque, Gregory De; Pierrard, Olivier; … - Institute for the Study of Labor (IZA) - 2006
In this paper, we propose a search and matching model with nominal stickiness à la Calvo in the wage bargaining. We analyze the properties of the model, first, in the context of a typical real business cycle model driven by stochastic productivity shocks and second, in a fully specified...
Persistent link: https://www.econbiz.de/10005703177
Cover Image
Sequential Bargaining in a New-Keynesian Model with Frictional Unemployment and Staggered Wage Negotiation
De Walque, Gregory; Pierrard, Olivier; Sneessens, Henri; … - Institute for the Study of Labor (IZA) - 2009
We consider a model with frictional unemployment and staggered wage bargaining where hours worked are negotiated every period. The workers' bargaining power in the hours negotiation affects both unemployment volatility and inflation persistence. The closer to zero this parameter, (i) the more...
Persistent link: https://www.econbiz.de/10005703208
Cover Image
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
Cover Image
The Role of Real Wage Rigidity and Labor Market Frictions for Unemployment and Inflation Dynamics
Christoffel, Kai; Linzert, Tobias - Institute for the Study of Labor (IZA) - 2005
In this paper we incorporate a labor market with matching frictions and wage rigidities into the New Keynesian business cycle model. In particular, we analyze the effect of a monetary policy shock and investigate how labor market frictions affect the transmission process of monetary policy. The...
Persistent link: https://www.econbiz.de/10005703779
Cover Image
Do Emotions Improve Labor Market Outcomes?
Goette, Lorenz; Huffman, David - Institute for the Study of Labor (IZA) - 2005
This chapter argues that the neglect of emotion in economic models explains their inability to predict important aspects of the labor market. We focus on one example: firms frequently cut real wages, increasing nominal wages by less than the inflation rate, but they very seldom cut nominal...
Persistent link: https://www.econbiz.de/10005763663
Cover Image
Uniform and Nonuniform Staggering of Wage Contracts
Danziger, Leif - Institute for the Study of Labor (IZA) - 2010
This paper provides a model that can account for the almost uniform staggering of wage contracts in some countries as well as for the markedly nonuniform staggering in others. In the model, short and long contracts as well as long contracts concluded in different periods are strategic...
Persistent link: https://www.econbiz.de/10008548722