Similar Search Results

Revisions of Potential Output Estimates in the EU after the Great Recession

Dovern, Jonas - 2019

while revisions of trend labor, mainly driven by revisions of the non-accelerating wage rate of unemployment (NAWRU), are …

Persistent link: https://www.econbiz.de/10012866365

EU enlargement, migration and the new constitution

Sinn, Hans-Werner - 2004

The paper deals with the effects of migration resulting from EU Eastern enlargement on the welfare states of Western Europe. Although migration is good in principle, as it yields gains from trade and specialization for all countries involved, it does so only if it meets with flexible labour...

Persistent link: https://www.econbiz.de/10010261112

Domestic and Global Output Gaps as Inflation Drivers : What Does the Phillips Curve Tell?

Jasova, Martina - 2019

We study how domestic and global output gaps affect CPI inflation. We use a New-Keynesian Phillips curve framework which controls for nonlinear exchange rate movements for a panel of 26 advanced and 22 emerging economies covering the 1994Q1-2017Q4 period. We find broadly that both global and...

Persistent link: https://www.econbiz.de/10012892246

New Output Gap Estimates for Assessing Fiscal Policy with Lessons for Euro Area Reform

Oksanen, Heikki - 2019

Output gaps (OG) identify economic cycles and the cyclical and structural components in government budget balances. A new simple method for estimating OGs is presented here. The new results are more transparent than those published by the leading economic policy institutions. - The retroactive...

Persistent link: https://www.econbiz.de/10012892285

Coherence of Output Gaps in the Euro Area : The Impact of the COVID-19 Shock

Haan, Jakob de; Jacobs, Jan; Zijm, Renske - 2022

Using the measures proposed by Mink et al. (2012), we reexamine the coherence of business cycles in the euro area using a long sample period. We also analyze the impact of the COVID-19 pandemic on business cycle coherence and examine whether our measures for business cycle coherence indicate a...

Persistent link: https://www.econbiz.de/10013293282

Productivity Shocks and Aggregate Fluctuations in an Estimated Endogenous Growth Model with Human Capital

Malley, James R. - 2011

Employing an endogenous growth model with human capital, this paper explores how productivity shocks in the goods and human capital producing sectors contribute to explaining aggregate fluctuations in output, consumption, investment and hours. Given the importance of accounting for both the...

Persistent link: https://www.econbiz.de/10013120659

Asset price shocks, real expenditures, and financial structure: a multi-country analysis

Chirinko, Robert S.; de Haan, Leo; Sterken, Elmer - 2008

This paper examines the responses of private consumption, residential investment, and business investment in 11 EU countries, Japan, and the United States to shocks in housing and equity prices. The effects are assessed with a Structural Vector Auto Regressive (SVAR) model, and four key findings...

Persistent link: https://www.econbiz.de/10010274043

Inflation and GDP Dynamics in Production Networks : A Sufficient Statistics Approach

Afrouzi, Hassan; Bhattarai, Saroj - 2023

We derive closed-form solutions and sufficient statistics for inflation and GDP dynamics in multi-sector New Keynesian economies with arbitrary input-output linkages. Analytically, we decompose how production linkages (1) amplify the persistence of inflation and GDP responses to monetary and...

Persistent link: https://www.econbiz.de/10014356604

Public Employment Agency Reform, Matching Efficiency, and German Unemployment

Merkl, Christian; Sauerbier, Timo - 2023

restructuring of the Federal Employment Agency in Germany (Hartz III labor market reform) for aggregate matching and unemployment … Employment Agency did not contribute to the decline in unemployment in Germany. By contrast, improved activation of unemployed …

Persistent link: https://www.econbiz.de/10014358809

Is Prescott right?: welfare state policies and the incentives to work, learn and retire

Jacobs, Bas - 2008

labor supply, also learning and retirement are endogenous, the uncompensated (compensated) elasticity of the tax base equals … 0.46 (0.85), which is more than twice as large as the standard uncompensated (compensated) labor supply elasticity of 0 … the interactions raise all behavioral elasticities substantially. For example, the uncompensated labor supply elasticity …

Persistent link: https://www.econbiz.de/10010264345