Showing 1 - 10 of 198
This paper provides a single welfare measure to show the effects of consumer price changes upon households in Ireland … component using the Atkinson Social Welfare Function. The efficiency component includes the behavioural response to price … position of the household in the income distribution and that behavioural response can potentially improve the welfare position …
Persistent link: https://www.econbiz.de/10009024603
in urban China over the period 1986 to 2001. Spatial Price Index (SPI) is normally calculated using the Basket Cost … those obtained from the Basket Cost method. Further, regional price variations in urban China increased significantly during …Despite the intensive efforts made by economists to examine regional income inequality in China, limited attention has …
Persistent link: https://www.econbiz.de/10005822212
We model empirically the role of labor market institutions in affecting the response of inflation to labor market and exchange rate shocks in the EU. We adopt a simple Phillips curve framework, treating separately the sectors producing traded and non-traded goods. Our results show that labor...
Persistent link: https://www.econbiz.de/10010884190
expectations on future home values. We explore the relationship between house price expectations, local economic conditions, and … price expectations vary significantly over time, and are positively related to past housing returns and perceived economic …
Persistent link: https://www.econbiz.de/10010959803
The Phillips curve has flattened in Spain over 1995-2006: unemployment has fallen by 15 percentage points, with roughly constant inflation. This change has been more pronounced than elsewhere. We argue that this stems from the immigration boom in Spain over this period. We show that the New...
Persistent link: https://www.econbiz.de/10005233738
the SMIC which has always profited by price rises, in real and relative terms, which have become less strong. This …
Persistent link: https://www.econbiz.de/10005233863
We incorporate inequity aversion into an otherwise standard New Keynesian dynamic equilibrium model with Calvo wage contracts and positive inflation. Workers with relatively low incomes experience envy, whereas those with relatively high incomes experience guilt. The former seek to raise their...
Persistent link: https://www.econbiz.de/10009646332
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
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
" - although they generate price inertia, they cannot account for the stylised fact of inflation persistence. It is thus commonly … equilibrium setting (in which real variables not only affect inflation, but are also influenced by it), standard wage-price …
Persistent link: https://www.econbiz.de/10005703349