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Trends in 'Structural' Productivity Levels in the Major Industrialized Countries
Bourlès, Renaud - 2010
Estimating returns to hours worked and the employment rate provides us with an original interpretation of changes in US …
Persistent link: https://www.econbiz.de/10013136670
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Heterogeneity, Unemployment Benefits and Voluntary Labor Force Participation
Devulder, Antoine - 2014
In this paper, I propose a new Keynesian DSGE model with labor market search and matching frictions which replicates the low volatility and the moderate procyclicality of the labor force participation rate, that are observed in the United States at business cycle frequency. That being so,it can...
Persistent link: https://www.econbiz.de/10013052216
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Diversity and Employment Prospects : Neighbors Matter!
Hémet, Camille - 2016
' employment prospects. Relying on detailed data from the French Labor Force Survey, we measure diversity at two geographic levels …: the neighborhood and the local labor market. The correlation between diversity and employment varies accordingly: it is … precise localization of the data. The negative effect of diversity on employment at the neighborhood level is reinforced. We …
Persistent link: https://www.econbiz.de/10012981259
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Labour Force Participation and Tax-Benefit Systems : A Cross-Country Comparative Perspective
Galuscak, Kamil - 2015
This paper investigates the extent to which cross-country differences in aggregate participation rates can be explained by divergence in tax-benefit systems. We take the example of two countries, the Czech Republic and Hungary, which – despite a lot of similarities – differ markedly in...
Persistent link: https://www.econbiz.de/10013028523
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The Pricing Behaviour of Firms in the Euro Area : New Survey Evidence
Fabiani, Silvia - 2011
This study investigates the pricing behaviour of firms in the euro area on the basis of surveys conducted by nine Eurosystem national central banks, covering more than 11,000 firms. The results, robust across countries, show that firms operate in monopolistically competitive markets, where...
Persistent link: https://www.econbiz.de/10013132582
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Financial Systems and the Role of Banks in Monetary Policy Transmission in the Euro Area
Ehrmann, Michael - 2010
This paper offers a comprehensive comparison of the structure of banking and financial markets in the euro area. Based on this, several hypotheses about the role of banks in monetary policy transmission are developed. Many of the predictions that have been proposed for the U.S. are deemed...
Persistent link: https://www.econbiz.de/10013134951
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Forecasting Inflation in the Euro Area
Bruneau, Catherine - 2010
In order to provide medium run forecasts of headline and core HICP inflation for the euro area, we assess the usefulness of dynamic factor models. We use Stock and Watson's (1999) out-of-sample methodology for models estimated over the 1988:1-2002:3 period, with balanced and unbalanced panels....
Persistent link: https://www.econbiz.de/10013134965
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Price Stability and the Ecb's Monetary Policy Strategy
Bordes, Christian - 2010
This paper focuses on the price stability objective within the framework of the single monetary policy strategy. It starts by reviewing what this objective, which is common to all central banks, means. Secondly, this paper will focus exclusively on the anchoring of short- to medium-term...
Persistent link: https://www.econbiz.de/10013135030
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Inflation and the Markup in the Euro Area
Bruneau, Catherine - 2010
The paper implements a consistent empirical strategy in order to investigate the behaviour of the markup over the cycle and its contribution to inflation movements.We model the price series as I(2) components and use polynomial cointegration in order to recover a long-run price schedule. We do...
Persistent link: https://www.econbiz.de/10013135043
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A Time-Varying Natural Rate for the Euro Area
Mésonnier, Jean-Stéphane - 2010
In this article we estimate a time-varying " natural " rate of interest (TVNRI) for a synthetic euro area over the period 1979Q1-2002Q4 using a small backward-looking macroeconomic model, broadly following a methodology developed by Laubach and Williams (2003) for the United States. The Kalman...
Persistent link: https://www.econbiz.de/10013136219