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Employment Growth, Inflation and Output Growth : Was Phillips Right? Evidence from a Dynamic Panel
Caporale, Guglielmo Maria - 2013
In this paper we analyse the short- and long-run relationship between employment growth, inflation and output growth in Phillips' tradition. For this purpose we apply FMOLS, DOLS, PMGE, MGE, DFE, and VECM methods to a nonstationary heterogeneous dynamic panel including annual data for 119...
Persistent link: https://www.econbiz.de/10013092691
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The Effects of Monetary Policy on Unemployment Dynamics under Model Uncertainty - Evidence from the US and the Euro Area
Altavilla, Carlo - 2013
This paper explores the role that the imperfect knowledge of the structure of the economy plays in the uncertainty surrounding the effects of rule-based monetary policy on unemployment dynamics in the euro area and the US. We employ a Bayesian model averaging procedure on a wide range of models...
Persistent link: https://www.econbiz.de/10012753184
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Does Immigration Affect the Phillips Curve? Some Evidence for Spain
Bentolila, Samuel; Dolado, Juan Jose; Jimeno, Juan F. - 2021
' labor supply or bargaining power differ. Estimation of the curve for Spain indicates that the fall in unemployment since …
Persistent link: https://www.econbiz.de/10013316646
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Wage Inequality in Germany : Disentangling Demand and Supply Effects
Stimmelmayr, Michael - 2021
In this paper we conduct a counterfactual analysis and estimate the quantitative importance of demand and supply effects on wage inequality in Germany using a dynamic computable general equilibrium (CGE) model of the Auerbach-Kotlikoff (1987) type. Specifically, the methodological contribution...
Persistent link: https://www.econbiz.de/10013316312
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Time Variation in U.S. Wage Dynamics
Hofmann, Boris - 2011
This paper explores time variation in the dynamic effects of technology shocks on U.S. output, prices, interest rates as well as real and nominal wages. The results indicate considerable time variation in U.S. wage dynamics that can be linked to the monetary policy regime. Before and after the...
Persistent link: https://www.econbiz.de/10013131601
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The Price and Employment Response of Firms to the Introduction of Minimum Wages
Link, Sebastian - 2021
This paper studies the price and employment response of firms to the introduction of a nation-wide minimum wage in Germany. In line with previous studies, the estimated employment effect is only modestly negative and statistically insignificant. In contrast, affected firms increased prices much...
Persistent link: https://www.econbiz.de/10013315367
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Employment Growth, Inflation and Output Growth: Was Phillips Right? Evidence from a Dynamic Panel
Caporale, Guglielmo Maria; Škare, Marinko - CESifo - 2011
In this paper we analyse the short- and long-run relationship between employment growth, inflation and output growth in Phillips’ tradition. For this purpose we apply FMOLS, DOLS, PMGE, MGE, DFE, and VECM methods to a nonstationary heterogeneous dynamic panel including annual data for 119...
Persistent link: https://www.econbiz.de/10009144885
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Time Variation in U.S. Wage Dynamics
Hofmann, Boris; Peersman, Gert; Straub, Roland - CESifo - 2010
This paper explores time variation in the dynamic effects of technology shocks on U.S. output, prices, interest rates as well as real and nominal wages. The results indicate considerable time variation in U.S. wage dynamics that can be linked to the monetary policy regime. Before and after the...
Persistent link: https://www.econbiz.de/10008833938
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Houses and/or Jobs : Ownership and the Labour Market in Belgian Districts
Isebaert, Daan; Heylen, Freddy; Smolders, Carine - 2021
be endogenous to (shocks in) employment, we use IV estimation methods. Overall, we find evidence in favour of the Oswald … endogeneity. Disregarding these issues, as is often done in the macro labour literature, may imply very different estimation … results. Additional estimation reveals that the size of the Oswald effect falls in the fraction of high skilled in a district …
Persistent link: https://www.econbiz.de/10013316056
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Uncertainty-Driven Business Cycles : Assessing the Markup Channel
Born, Benjamin - 2017
A growing recent literature relies on a precautionary pricing motive embedded in representative agent DSGE models with sticky prices and wages to generate negative output effects of uncertainty shocks. We assess whether this theoretical model channel is consistent with the data. Building a New...
Persistent link: https://www.econbiz.de/10012962916