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The pass-through of exchange rate in the context of the European sovereign debt crisis
Cheikh, Nidhaleddine Ben; Rault, Christophe - 2015
This paper investigates whether exchange rate pass-through (ERPT) into import prices is a nonlinear phenomenon for five heavily indebted Euro area countries, namely the so-called GIIPS group (Greece, Ireland, Italy, Portugal, and Spain). Using logistic smooth transition models, we explore the...
Persistent link: https://www.econbiz.de/10011376318
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Employment, exchange rates and labour market rigidity
Alexandre, Fernando; Bação, Pedro; Cerejeira, João; … - 2010
There is increasing evidence that the interaction between shocks and labour market institutions is crucial to understanding the dynamics of employment. In this paper, we show that the inclusion of labour adjustment costs in a trade model affects the impact of exchange rate movements on...
Persistent link: https://www.econbiz.de/10003959141
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Heterogeneous impacts of trade shocks on workers
Arni, Patrick; Egger, Peter; Erhardt, Katharina; … - 2024
This paper identifies the causal effects of trade shocks on worker outcomes. We exploit a unique setting based on three pillars: (i) a large, unanticipated appreciation of the Swiss franc in 2015, (ii) detailed data with firm-level exposure to trade via output markets (both domestic and foreign)...
Persistent link: https://www.econbiz.de/10014507637
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Cross-country connectedness in inflation and unemployment: measurement and macroeconomic consequences
Binh Thai Pham; Sala, Hector - 2021
We bring the notion of connectedness (Diebold and Yilmaz, 2012) to a set of two critical macroeconomic variables as inflation and unemployment. We focus on the G7 economies plus Spain, and use monthly data –high-frequency data in a macro setting – to explore the extent and consequences of...
Persistent link: https://www.econbiz.de/10012491801
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Lumpy price adjustments : a microeconometric analysis
Dhyne, Emmanuel; Fuss, Catherine; Pesaran, M. Hashem; … - 2007
This paper presents a simple model of state-dependent pricing that allows identification of the relative importance of the degree of price rigidity that is inherent to the price setting mechanism (intrinsic) and that which is due to the price's driving variables (extrinsic). Using two data sets...
Persistent link: https://www.econbiz.de/10003595347
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Some evidence on the importance of sticky wages
Barattieri, Alessandro; Basu, Susanto; Gottschalk, Peter - 2010
Nominal wage stickiness is an important component of recent medium-scale structural macroeconomic models, but to date there has been little microeconomic evidence supporting the assumption of sluggish nominal wage adjustment. We present evidence on the frequency of nominal wage adjustment using...
Persistent link: https://www.econbiz.de/10003985883
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Disagreement in partners' reports of financial difficulty
Breunig, Robert; Cobb-Clark, Deborah A.; Gong, Xiaodong; … - 2005
We use unique data in which both partners report about household finances to demonstrate that there is often disagreement about whether the household has experienced financial difficulty in the past year. Four alternative explanations for this disagreement are tested using the data. The results...
Persistent link: https://www.econbiz.de/10002853404
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Search intensity, cost of living and local labor markets in Britain
Patacchini, Eleonora (contributor); Zenou, Yves (contributor) - 2003 - [Elektronische Ressource]
Persistent link: https://www.econbiz.de/10001760425
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Aggregation in large dynamic panels
Pesaran, M. Hashem; Chudik, Alexander - 2011
Carlo experiments, where we also study the estimation of the aggregate effects of micro and macro shocks. The paper …
Persistent link: https://www.econbiz.de/10009130496
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Trade and worker deskilling
Costa, Rui; Dhingra, Swati; Machin, Stephen - 2019
This paper presents new evidence on international trade and worker outcomes. It examines a big world event that … produced an unprecedentedly large shock to the UK exchange rate. In the 24 hours in June 2016 during which the UK electorate … occurred in any of the world's four major currencies since the collapse of Bretton Woods. Exploiting this variation, the paper …
Persistent link: https://www.econbiz.de/10012022416