Showing 1 - 10 of 302
The paper assesses the price and wage flexibility in Hong Kong SAR. At the aggregate level, it compares Hong Kong SAR with the United States, the United Kingdom and Singapore by examining the three commonly used macroeconomic relationships among inflation, unemployment, wage growth, and output...
Persistent link: https://www.econbiz.de/10011716450
in the probability of being employed within each occupation type and wages earned therein. Cohort plots and econometric … particularly significant for low-skill women: estimated cohort effects point to a fall in wages within each occupation as well as a …
Persistent link: https://www.econbiz.de/10012112127
Advanced economies have been witnessing a pronounced slowdown of productivity growth since the global financial crisis … productivity slowdown over the past two decades in four closely integrated European countries, Austria, Denmark, Germany and the … Netherlands, based on firm-level data. Participation in global value chains appears to have affected productivity positively …
Persistent link: https://www.econbiz.de/10012170132
This paper quantifies the economic impact of uncertainty shocks in the UK using data that span the recent Great Recession. We find that uncertainty shocks have a significant impact on economic activity in the UK, depressing industrial production and GDP. The peak impact is felt fairly quickly at...
Persistent link: https://www.econbiz.de/10014395348
advanced Europe, where wages are more closely related to inflation and inflation expectations in the short run, implying … the build up of a real wage overhang relative to sharply slowing labor productivity, which subsequently dragged on nominal …
Persistent link: https://www.econbiz.de/10012102142
We argue that the U.S. personal saving rate's long stability (from the 1960s through the early 1980s), subsequent steady decline (1980s - 2007), and recent substantial increase (2008 - 2011) can all be interpreted using a parsimonious 'buffer stock' model of optimal consumption in the presence...
Persistent link: https://www.econbiz.de/10009622528
The paper uses a large survey (GSOEP) to analyze the labor market performance of immigrants in Germany. It finds that new immigrant workers earn on average 20 percent less than native workers with otherwise identical characteristics. The gap is smaller for immigrants from advanced countries,...
Persistent link: https://www.econbiz.de/10011436800
, period, and cohort effects for the likelihood of employment in different occupations and the wages earned therein over 2001 … relative to high-paying abstract jobs. However, cohort effects also underpin falling wages for post-1980 cohorts across all …
Persistent link: https://www.econbiz.de/10013170024
Lagging labor reallocations outside agriculture amid sustained low agricultural productivity have been a key feature in …. In contrast to the traditional view that agricultural employment outflows are largely driven by productivity differences …
Persistent link: https://www.econbiz.de/10012796816
millennium. At the macroeconomic level, we find that a productivity-augmented Phillips curve model explains the data fairly well … a persistent decline in trend labor productivity growth and the share of income that accrues to labor. These themes are … reinforced and complemented at the micro-economic level. Lower regional unemployment puts an upward pressure on wages of …
Persistent link: https://www.econbiz.de/10011866490