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Measuring the UK short-run NAIRU
Batini, Nicoletta; Greenslade, Jennifer V. - 2003
This paper derives alternative measures of the short-run NAIRU (SRN) for the UK, the rate for unemployment at which … inflation will neither increase nor decrease in the short-run. We estimate the NAIRU jointly with price equations by using the …-run NAIRU measures prove helpful in predicting inflation and we demonstrate their usefulness in Taylor-type policy rules for the …
Persistent link: https://www.econbiz.de/10011517881
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Inequality and income dynamics in Germany
Drechsel-Grau, Moritz; Peichl, Andreas; Schmieder, Johannes - 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/10013193660
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On household labour supply in sticky-wage HANK models
Gerke, Rafael; Giesen, Sebastian; Lozej, Matija; … - 2024 - November 24, 2023
Heterogeneous-agent New Keynesian models with sticky nominal wages usually assume that wage-setting unions demand the same amount of hours from all households. As a result, unions do not take account of the fact that (i) households are heterogeneous in their willingness to work, and that (ii)...
Persistent link: https://www.econbiz.de/10014467926
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Does experience shape subjective expectations?
Rossmann, Tobias - 2019
This paper documents that individuals' expectations about macroeconomic outcomes are systematically linked with the experiences of these macroeconomic outcomes they have made during life. Focusing on expectations about national inflation, national unemployment and national business conditions, I...
Persistent link: https://www.econbiz.de/10012064821
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Monetary policy rules under bounded rationality
Dobrew, Michael; Gerke, Rafael; Kienzler, Daniel; … - 2023
We study the welfare performance of various simple monetary policy rules under bounded rationality (BR) along the lines of Gabaix (2020) in a New Keynesian model with sticky wages and an effective lower bound (ELB) on interest rates. Policy strategies with a strong history dependence lose their...
Persistent link: https://www.econbiz.de/10014320809
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Neues von der NAIRU?
Franz, Wolfgang - 2000
This paper is devoted to a new estimation of the non-accelerating inflation rate of unemployment (NAIRU) for the West … German Economy 1980 to 1998. The novelty of the paper is the estimation of a time-varying NAIRU for West Germany employing …, the NAIRU for 1998 is estimated to lie between 7.9 and 8.5 percent. However, based on a presentation of the theoretical …
Persistent link: https://www.econbiz.de/10013428346
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The fall and rebound of average establishment size in West Germany
Kovalenko, Tim; Sauerbier, Timo; Schröpf, Benedikt - 2024
In West Germany, the average size of establishments declined during the 1990s and started to increase again in the late 2000s, while the employer size wage premium followed the opposite trajectory. In this paper, we show that these two developments are interrelated. More precisely, our results...
Persistent link: https://www.econbiz.de/10014501125
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Spatial dynamics of labor markets in Brazil
Chomitz, Kenneth M.; Mata, Daniel da; Carvalho, … - 2015
There was substantial spatial variation in labor market outcomes in Brazil over the 1990's. In 2000, about one fifth of workers lived in apparently economically stagnant municipios where real wages declined but employment increased faster than the national population growth rate. More than one...
Persistent link: https://www.econbiz.de/10012025189
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Job creation in tight and slack labor markets
Buchheim, Lukas; Watzinger, Martin; Wilhelm, Matthias - 2019
Do investment programs create more jobs in tight or in slack labor markets? We study this question using data from a large, long-term photovoltaic invest scheme in Germany. Comparing counties with high and low unemployment both over time and across space, we find that photovoltaic installations...
Persistent link: https://www.econbiz.de/10012033285
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(When) does money growth help to predict Euro-area inflation at low frequencies?
Schreiber, Sven - 2013 - this version: June 2013
Short answer: It helps a lot when other important variables are excluded from the information set. Longer answer: We revisit claims in the literature that money growth is Granger-causal for inflation at low frequencies. Applying frequency-specific tests in a comprehensive system setup for...
Persistent link: https://www.econbiz.de/10009774367