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Sectoral Okun's Law and Cross-Country Cyclical Differences

Goto, Eiji - 2020

We estimate Okun's law, the negative relationship between output and the unemployment rate, at the sector level for the US, the UK, Japan, and Switzerland to test several hypotheses that may explain why the aggregate Okun's coeffcients are different across countries. Specifically, we show that...

Persistent link: https://www.econbiz.de/10012841145

Inequality and Income Dynamics in Germany

Drechsel-Grau, Moritz; Peichl, Andreas; Schmieder, … - 2022

We provide a comprehensive analysis of income inequality and income dynamics for Germany over the last two decades. Combining personal income tax and social security data allows us — for the first time — to offer a complete picture of the distribution of annual earnings in Germany. We find...

Persistent link: https://www.econbiz.de/10013298363

Wages, Skills, and Skill-Biased Technical Change : The Canonical Model Revisited

Bowlus, Audra; Robinson, M. Chris; Lochner, Lance; … - 2021

The canonical supply-demand model of the wage returns to skill has been extremely influential; however, it has faced …

Persistent link: https://www.econbiz.de/10013217553

Heterogeneity in wage setting behavior in a New-Keynesian model

Eijffinger, Sylvester C. W.; Grajales-Olarte, Anderson; … - In: Macroeconomic dynamics 24 (2020) 6, pp. 1512-1546

Persistent link: https://www.econbiz.de/10012307288

Macroeconomic Shocks and Racial Labour Market Differences in the U.S

De, Kuhelika - 2020

Using 136 United States macroeconomic indicators from 1973 to 2017, and a factor augmented vector autoregression (FAVAR) framework with sign restrictions, we investigate the effects of three structural macroeconomic shocks - monetary, demand, and supply - on the labour market outcomes of black...

Persistent link: https://www.econbiz.de/10012844419

Real wage rigidity, heterogeneity, and the business cycles

Ma, Eunseong - In: Macroeconomic dynamics 25 (2021) 7, pp. 1701-1725

Persistent link: https://www.econbiz.de/10012656679

Pennies from Haven : Wages and Profit Shifting

Alstadsæter, Annette; Bjørkheim, Julie Brun; Davies, … - 2022

, an activity that generates inequality in corporate taxation. Here, we examine how profit shifting relates to wage …, particularly among service firms where the wage premium is approximately 2%. Furthermore, this average effect masks significant … within-firm heterogeneity with high-skill occupations – and managers in particular – earning higher shifting wage premiums …

Persistent link: https://www.econbiz.de/10013299336

Distributional Effects of Macroeconomic Shocks in Real-Time : A Novel Method Applied to the COVID-19 Crisis in Germany

Bruckmeier, Kerstin; Peichl, Andreas; Popp, Martin; … - 2021

The highly dynamic nature of the COVID-19 crisis poses an unprecedented challenge to policy makers around the world to take appropriate income-stabilizing countermeasures. To properly design such policy measures, it is important to quantify their effects in real-time. However, data on the...

Persistent link: https://www.econbiz.de/10013250264

Shocks, Frictions, and Inequality in US Business Cycles

Bayer, Christian - 2020

How much does inequality matter for the business cycle and vice versa? Using a Bayesian likelihood approach, we estimate a heterogeneous-agent New-Keynesian (HANK) model with incomplete markets and portfolio choice between liquid and illiquid assets. The model enlarges the set of shocks and...

Persistent link: https://www.econbiz.de/10012841741

Uncertainty and Monetary Policy in Good and Bad Times : A Replication of the VAR Investigation by Bloom (2009)

Caggiano, Giovanni - 2020

This paper revisits the well-known VAR evidence on the real effects of uncertainty shocks by Bloom (Econometrica 2009(3): 623-685. doi: 10.3982/ECTA6248). We replicate the results in a narrow sense using Eviews. In a wide sense, we extend his study by working with a smooth transition-VAR...

Persistent link: https://www.econbiz.de/10012824829

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