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Interest rate bands of inaction and play-hysteresis in domestic investment : evidence for the Euro area
Belke, Ansgar; Frenzel Baudisch, Coletta; Göcke, Matthias - 2019
The interest rate represents an important monetary policy tool to steer investment in order to reach price stability. Therefore, implications of the exact form and magnitude of the interest rate-investment nexus for the European Central Bank's effectiveness in a low interest rate environment...
Persistent link: https://www.econbiz.de/10012099559
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Gender wage-productivity differentials and global integration in China
Dammert, Ana C.; Ural Marchand, Beyza; Wan, Chi - 2013
structure and evolution of gender differentials in China by simultaneously estimating demand-side wage and productivity outcomes …-exporting firms. -- China ; gender wage discrimination ; globalization ; firm ownership …
Persistent link: https://www.econbiz.de/10009696894
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The end of cheap labour : are foreign investors leaving China?
Donaubauer, Julian; Dreger, Christian - 2016
China's government is promoting the shift towards a consumption-based economy since a few years. The explicit goal to … paper, we raise the hypothesis that soaring wages negatively affect FDI inflows to China and alter the distribution of FDI … the distribution of FDI within China. In addition, we show that the changes in China's economic strategy improve the …
Persistent link: https://www.econbiz.de/10011517943
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Unequal consequences of COVID-19 across age and income: representative evidence from six countries
Belot, Michèle; Choi, Syngjoo; Tripodi, Egon; Van den … - 2020
been affected across six countries (China, South Korea, Japan, Italy, UK and US). We first document changes in income …
Persistent link: https://www.econbiz.de/10012239013
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The economic burden of chronic diseases : estimates and projections for China, Japan and South Korea
Bloom, David E.; Chen, Simiao; Kuhn, Michael; McGovern, … - 2017
China, Japan, and South Korea, and estimate the economic burden of chronic conditions in five domains (cardiovascular … non-communicable diseases over the period 2010-2030 are $16 trillion for China (measured in real USD with the base year … 2010), $5.7 trillion for Japan, and $1.5 trillion for South Korea. Our results also highlight the limits of cost …
Persistent link: https://www.econbiz.de/10011704338
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Government debt as insurance against macroeconomic risk
Barbie, Martin; Hagedorn, Marcus; Kaul, Ashok - 2001
Is there a role for debt beyond curing overaccumulation of capital? Does dynamic efficiency and the infeasibility of debt Ponzi schemes eliminate any Pareto-improving role for a government in a competitive economy with complete markets? Is there an optimal maturity structure of public debt?...
Persistent link: https://www.econbiz.de/10011405711
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Differences in euro-area household finances and their relevance for monetary-policy transmission
Hintermaier, Thomas; Koeniger, Winfried - 2019
This paper quantifies the extent of heterogeneity in consumption responses to changes in real interest rates and house prices in the four largest economies in the euro area: France, Germany, Italy, and Spain. We first calibrate a life-cycle incomplete-markets model with a financial asset and...
Persistent link: https://www.econbiz.de/10012133482
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Recession and deflation?
Blanchflower, David G.; Bryson, Alex - 2022
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 for wage growth are the non-employment rate and the...
Persistent link: https://www.econbiz.de/10013448558
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Trade, wages, and productivity
Behrens, Kristian; Mion, Giordano; Murata, Yasusada; … - 2008
We develop a new general equilibrium model of trade with heterogeneous firms, variable demand elasticities and endogenously determined wages. Trade integration favors wage convergence, intensifies competition, and forces the least efficient firms to leave the market, thereby affecting aggregate...
Persistent link: https://www.econbiz.de/10003755333
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Margins of multinational labor substitution
Muendler, Marc-Andreas (contributor);  … - 2006
Multinational labor demand responds to wage differentials at the extensive margin, when a multinational enterprise (MNE) expands into foreign locations, and at the intensive margin, when an MNE operates existing affiliates across locations. We derive conditions for parametric and nonparametric...
Persistent link: https://www.econbiz.de/10003323160