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Going the extra mile : effort by workers and job-seekers
Hertweck, Matthias S.; Lewis, Vivien; Villa, Stefania - 2019
We introduce two types of effort into an otherwise standard labor search model to examine indeterminacy and sunspot equilibria. Variable labor effort gives rise to increasing returns to hours in production. This makes workers more valuable and contributes to self-fulfilling profit expectations,...
Persistent link: https://www.econbiz.de/10012062385
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Minimum wages and insurance within the firm
Adamopoulou, E rosyni; Manaresi, Francesco; Rachedi, Omar; … - 2024
Minimum wages generate an asymmetric pass-through of rm shocks across workers. We establish this result leveraging employer-employee data on Italian metalmanufacturing rms, which face di erent wage oors that vary within occupations. In response to negative rm productivity shocks, workers close...
Persistent link: https://www.econbiz.de/10014518663
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The shocks matter : improving our estimates of exchange rate pass-through
Forbes, Kristin; Hjortsoe, Ida; Nenova, Tsvetelina - 2015
A major challenge for monetary policy has been predicting how exchange rate movements will impact inflation. We propose …
Persistent link: https://www.econbiz.de/10011384119
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Does inflation come and go in the same way?
Hukkinen, Juhana; Virén, Matti E. E. - 2023
The failure to predict the surge in inflation in 2021 raises questions about whether we are better equipped to … anticipate a future decline in inflation. What tools do we intend to use for predicting the trajectory of inflation? Are we still … primarily relying on survey data regarding inflation expectations, and are we still employing a Calvo-type structure to model …
Persistent link: https://www.econbiz.de/10014465012
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Monetary policy and unemployment in open economies
Engler, Philipp - 2011
After an expansionary monetary policy shock employment increases and unemployment falls. In standard New Keynesian models the fall in aggregate unemployment does not affect employed workers at all. However, Lüchinger, Meier and Stutzer (2010) found that the risk of unemployment negatively...
Persistent link: https://www.econbiz.de/10009405109
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Labor market reforms, precautionary savings, and global imbalances
Hochmuth, Brigitte; Moyen, Stephane; Stähler, Nikolai - 2019
How do labor market reforms affect international competitiveness and net foreign assets? To answer this question, we build a two-region RBC model with labor market frictions, idiosyncratic consumption risk, and limited cross-sectional heterogeneity to establish a direct link between labor market...
Persistent link: https://www.econbiz.de/10011995060
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Does inflation come and go in the same way?
Hukkinen, Juhana; Virén, Matti E. E. - 2023
The failure to predict the surge in inflation in 2021 raises questions about whether we are better equipped to … anticipate a future decline in inflation. What tools do we intend to use for predicting the trajectory of inflation? Are we still … primarily relying on survey data regarding inflation expectations, and are we still employing a Calvo-type structure to model …
Persistent link: https://www.econbiz.de/10014551578
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Is globalization the root cause of declining inflation?
Hukkinen, Juhana; Virén, Matti E. E. - 2022
This paper examines the reasons for the declining path of inflation since the 1970s. In particular, it focusses on the … inflation. The paper makes use of different data from individual countries and panel of countries. These data show that the … dispersion of inflation and the behavior of relative prices follow a pattern that is consistent with several globalization …
Persistent link: https://www.econbiz.de/10014551656
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China's role in global inflation dynamics
Eickmeier, Sandra; Kühnlenz, Markus - 2013
analyze China’s role in global inflation dynamics. We identify Chinese supply and demand shocks and examine their … to be more strongly affected than consumer prices by Chinese shocks. The overall share of international inflation … exposure help explaining crosscountry differences in price responses. -- Global inflation ; China ; international business …
Persistent link: https://www.econbiz.de/10009732001
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The pricing behaviour of UK firms
Batini, Nicoletta; Jackson, Brian; Nickell, Stephen J. - 2002
Industrial prices of goods and services are a function of costs of production and of the mark-up that firms apply on those costs. If these prices relate to goods that are traded internationally, they will also be influenced by the price at which those goods are exchanged in international...
Persistent link: https://www.econbiz.de/10011517928