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distribution. The conventional method of analysis is regression of summary inequality indices on variables such as the unemployment … and inflation rates. Building on the lessons from recent advances in time-series econometrics, we suggest instead that one …
Persistent link: https://www.econbiz.de/10011403817
Central bankers are raising interest rates on the assumption that wage-push inflation may lead to stagflation. This is … not the case. Although unemployment is low, the labor market is not 'tight'. On the contrary, we show that what matters …
Persistent link: https://www.econbiz.de/10013448558
What are the broad societal implications of inflation and unemployment? Analyzing a dataset of over 1.9 million …, we find that both inflation and unemployment have a negative link with confidence in financial institutions. While … inflation is generally unassociated with confidence in government and leadership approval, unemployment still has a strong …
Persistent link: https://www.econbiz.de/10014419497
relating unemployment and vacancies to inflation, the link between these labor market indicators and inflation depends on … curve shifts between 1960 and 2000. A reduction in matching efficiency, that depressed unemployment outflows, shifted the … Beveridge curve is essential for drawing policy conclusions from the joint behavior of unemployment and job openings. …
Persistent link: https://www.econbiz.de/10014388878
high during 2016-2019, keeping inflation below the Reserve Bank's target band. Optimal monetary policy in 2016-2019 would …
Persistent link: https://www.econbiz.de/10013373260
estimates. The research period has been characterised by high labour demand, negative supply shocks, high levels of inflation …
Persistent link: https://www.econbiz.de/10014545239
find a high degree of downward nominal wage rigidity, which for rates of inflation lower than three percent is shown to … lead to higher equilibrium unemployment via the generated real wage wedge. …
Persistent link: https://www.econbiz.de/10011403751
We develop a theory of labor markets in a monetary economy with four realistic features: search frictions, worker productivity shocks, wage rigidity, and two-sided lack of commitment. Due to the non-Coasean nature of labor contracts, inefficient job separations occur in the form of endogenous...
Persistent link: https://www.econbiz.de/10014278008
Agents operating in illegal markets cannot resort to the justice system to guarantee property rights, to enforce contracts, or to seek protection from competitors' improper behaviors. In these contexts, violence is used to enforce previous agreements and to fight for market share. This...
Persistent link: https://www.econbiz.de/10009379661
This paper uses a unique dataset to examine the economics of cross-border drug smuggling. Our results reveal that loads are generally quite large (median 30 kg), but with substantial variance within and across drug types. Males and females, as well as U.S. citizens and non-U.S. citizens are all...
Persistent link: https://www.econbiz.de/10010360291