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estate, as well as the costs of public goods to develop alternative inflation measures in Germany since the introduction of … the euro. Real economic growth as well as median wage developments are reexamined in light of the alternative inflation …
Persistent link: https://www.econbiz.de/10012291889
demonstrated that the inconclusive evidence is not only caused by measurement problems, estimation method and composition bias as …
Persistent link: https://www.econbiz.de/10011449261
How are wages set in an open economy? What role is played by demand pressure, international competition, and structural factors in the labour market? How important is nominal wage rigidity and exchange rate policy for the evolution of real wages and competitiveness? To answer these questions, we...
Persistent link: https://www.econbiz.de/10003300963
We document substantial cross-sectional heterogeneity of German establishments' real wage cyclicality over the business cycle. While wages of the median establishment are moderately procyclical, 36 percent of establishments have countercyclical wages. We estimate a negative connection between...
Persistent link: https://www.econbiz.de/10012619265
Recent studies found evidence for nominal wage rigidity during periods of relatively high nominal GDP growth. It has been argued, however, that in an environment with low nominal GDP growth, when nominal wage cuts become customary, workers' opposition to nominal cuts would erode and, hence,...
Persistent link: https://www.econbiz.de/10009781613
At the turn of the millennium three frequently cited potential causes of new challenges for wage p olicy in Germany are revisited in this study: skilled-biased technological progress, the increasing international integration of labor and product markets, and the monetary integration of the EMU....
Persistent link: https://www.econbiz.de/10009781695
exhibit a higher degree of persistence, which reflects relatively long lags between inflation and wage adjustments. Endogenous …
Persistent link: https://www.econbiz.de/10013417630
We present new empirical evidence for the US economy that inflation reduces the inequality of the earnings distribution … higher inflation on income distribution is shown to be rather small. However, we find that a longer duration between two …
Persistent link: https://www.econbiz.de/10011507921
We study the effects of globalisation on the slope of the New Keynesian Phillips curve for CPI inflation, based on a … generally has a significant positive effect on inflation, but that this effect decreases as integration in the global economy …
Persistent link: https://www.econbiz.de/10012653311
economies, using dynamic cross-country panel estimation of New-Keynesian Phillips curves. We find that inflation expectations …We study the effects of professionals’ survey-based inflation expectations on inflation for a large number of 36 OECD … have a significantly positive effect on inflation. We also find that the effect of inflation expectations on inflation is …
Persistent link: https://www.econbiz.de/10012697141