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Real wages and local unemployment in the euro area

Sanz de Galdeano, Anna; Turunen, Jarkko - 2005

unemployment. The results suggest that the elasticity is indeed negative, i.e. that real wages are lower in local labour markets … with higher unemployment. The size of the elasticity for the euro area is similar to that found in previous studies for a … number of countries, including the United States. Furthermore, there is some variation in the unemployment elasticity by …

Persistent link: https://www.econbiz.de/10011604517

The role of labor markets for euro area monetary policy

Christoffel, Kai; Kuester, Keith; Linzert, Tobias - 2009

which labor markets are characterized by search and matching frictions. We first investigate to which extent a more flexible …

Persistent link: https://www.econbiz.de/10011605081

Inflation dynamics with labour market matching: assessing alternative specifications

Christoffel, Kai; Costain, James; de Walque, Gregory; … - 2009

dynamics through both their effect on marginal cost and on price-setting behaviour. In a search and matching environment, we …

Persistent link: https://www.econbiz.de/10011605099

On some fiscal effects on mortgage debt growth in the EU

Wolswijk, Guido - 2005

This paper analyses some fiscal aspects of mortgage debt in the EU. It first describes the main fiscal instruments that governments use to affect mortgage-financed home-ownership. In the empirical part, real mortgage debt growth is analysed for 15 EU countries using pooled regressions. Fiscal...

Persistent link: https://www.econbiz.de/10011604572

Why do Europeans work part-time? A cross-country panel analysis.

Buddelmeyer, Hielke; Mourre, Gilles; Ward-Warmedinger, … - 2008

This empirical paper seeks to determine the relative contribution of the business cycle and structural factors to the development of part-time employment in the EU-15 countries over the 1980s and 1990s, exploiting a panel of EU countries. In the short-run, the business cycle is found to exert a...

Persistent link: https://www.econbiz.de/10011604918

The effects of monetary policy on unemployment dynamics under model uncertainty: evidence from the US and the euro area

Altavilla, Carlo; Ciccarelli, Matteo - 2009

surrounding the effects of rule-based monetary policy on unemployment dynamics in the euro area and the US. We employ a Bayesian …

Persistent link: https://www.econbiz.de/10011605135

Part-time work in EU countries: labour market mobility, entry and exit

Buddelmeyer, Hielke; Mourre, Gilles; Ward-Warmedinger, … - 2005

This paper looks at the role of part-time work in labour mobility for 11 European countries. We find some evidence of part-time work being used as a stepping stone into full-time employment, but for a small proportion of individuals (less than 5%). Part-time jobs are also found to be more...

Persistent link: https://www.econbiz.de/10011604506

National prices and wage setting in a currency union

Sánchez, Marcelo - 2009

Existing work on wage bargaining (as exemplified by Cukierman and Lippi, 2001) typically predicts more aggressive wage setting under monetary union. This insight has not been confirmed by the EMU experience, which has been characterised by wage moderation, thereby eliciting criticism from Posen...

Persistent link: https://www.econbiz.de/10011605104

Implementing the stability and growth pact: enforcement and procedural flexibility

Beetsma, Roel; Debrun, Xavier - 2005

The paper proposes a theoretical analysis illustrating some key policy trade-offs involved in the implementation of a rules-based fiscal framework reminiscent of the Stability and Growth Pact (SGP). The analysis offers some insights on the current debate about the SGP. Specifically, greater...

Persistent link: https://www.econbiz.de/10011604479

Capital flows and the US ‘New Economy’: consumption smoothing and risk exposure

Miller, Marcus; Castrén, Olli; Zhang, Lei - 2005

In an analytically tractable model of the global economy, we calculate the Pareto improvement where a country experiencing a favourable supply side shock consumes more against expected future output and spreads the risk by selling shares. With capital inflows to finance the ‘New Economy’...

Persistent link: https://www.econbiz.de/10011604505