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Has the EMU reduced wage growth and unemployment? Testing a model of trade union behaviour
Mikosch, Heiner; Sturm, Jan-Egbert - 2011
(EMU) led to lower wage growth and lower unemployment in participating countries. Following Grüner's model, monetary … national business cycles which, in turn, leads to higher unemployment risk. In order to counter-balance this effect, trade … unions lower their claims for wage mark-ups resulting in lower wage growth and lower unemployment. This paper uses …
Persistent link: https://www.econbiz.de/10010274904
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The information content of capacity utilisation rates for output gap estimates
Graff, Michael; Sturm, Jan-Egbert - 2010
From a theoretical perspective, the output gap is probably the most comprehensive and convincing concept to describe the cyclical position of an economy. Unfortunately, for practical purposes, the concept depends on the determination of potential output, which is an inherently unobservable...
Persistent link: https://www.econbiz.de/10010274874
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Using real-time data to test for political budget cycles
Jong-A-Pin, Richard; Sturm, Jan-Egbert; de Haan, Jakob - 2012
We use real-time annual data on the fiscal balance, government current spending, current revenues and net capital outlays as published at a half yearly frequency in the OECD Economic Outlook for 25 OECD countries. For each fiscal year t we have a number of forecasts, a first release, and...
Persistent link: https://www.econbiz.de/10010288232