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Monetary Persistence, Imperfect Competition, and Staggering Complementarities

Merkl, Christian; Snower, Dennis J. - 2021

This paper explores the influence of wage and price staggering on monetary persistence. We show that, for plausible parameter values, wage and price staggering are complementary in generating monetary persistence. We do so by proposing the new measure of quantitative inertia, after discussing...

Persistent link: https://www.econbiz.de/10013316832

Trade and Informality in the Presence of Labor Market Frictions and Regulations

Dix-Carneiro, Rafael; Goldberg, Pinelopi; Meghir, Costas; … - 2021

We build an equilibrium model of a small open economy with labor market frictions and imperfectly enforced regulations. Heterogeneous firms sort into the formal or informal sector. We estimate the model using data from Brazil, and use counterfactual simulations to understand how trade affects...

Persistent link: https://www.econbiz.de/10013250247

Household Responses to Trade Shocks

Irastorza-Fadrique, Aitor; Levell, Peter; Parey, Matthias - 2023

against lost household earnings by increasing labour supply. We find that both own and partner responses to the shock vary … worker effect' when their partner is exposed to the shock. By contrast, we find no such response for women, who do not … dissolution also differ according to the gender of those affected: for women below 45, but not men, exposure to the trade shock …

Persistent link: https://www.econbiz.de/10014351480

Wage Structure Effects of International Trade : Evidence from a Small Open Economy

Du Caju, Philip - 2011

In the last decades, international trade has increased between industrialised countries and between high- and low-wage countries. This important change has raised questions on how international trade affects the labour market. In this spirit, this paper aims to investigate the impact of...

Persistent link: https://www.econbiz.de/10013127724

Subsidizing Firm Entry in Open Economies

Pflüger, Michael - 2009

Entrepreneurs who decide to enter an industry are faced with different levels of effective entry costs in different countries. These costs are heavily influenced by economic policy. What is not well understood is how international trade affects the government incentive to impact on entry costs,...

Persistent link: https://www.econbiz.de/10013155605

Innocent Bystanders? Monetary Policy and Inequality in the U.S

Coibion, Olivier - 2012

We study the effects and historical contribution of monetary policy shocks to consumption and income inequality in the United States since 1980. Contractionary monetary policy actions systematically increase inequality in labor earnings, total income, consumption and total expenditures....

Persistent link: https://www.econbiz.de/10013104935

External Monetary Shocks and Monetary Integration : Evidence from the Bulgarian Currency Board

Minea, Alexandru; Rault, Christophe - 2021

Starting July the 1st 1997, Bulgaria adopted a Currency Board (CB) monetary system. This paper aims at investigating if the adoption of the CB monetary system, which involves the cost of loosing monetary autonomy, has provided a relatively better (with respect to other CEEC) monetary integration...

Persistent link: https://www.econbiz.de/10013315999

Labor Demand Shocks and Housing Prices Across the Us : Does One Size Fit All?

Osei, Michael J - 2018

This paper examines whether effects of labor demand shocks on housing prices vary across time and space. Using data on 321 US metropolitan statistical areas, we estimate the medium- and long-run effects of increases in metropolitan statistical area-level employment and total labor income on...

Persistent link: https://www.econbiz.de/10012915342

Causal Effects of Monetary Shocks : Semiparametric Conditional Independence Tests with a Multinomial Propensity Score

Angrist, Joshua D.; Kuersteiner, Guido M. - 2021

Macroeconomists have long been concerned with the causal effects of monetary policy. When the identification of causal effects is based on a selection-on-observables assumption, non-causality amounts to the conditional independence of outcomes and policy changes. This paper develops a...

Persistent link: https://www.econbiz.de/10013325071

Labor Supply and Consumption Smoothing When Income Shocks are Non-Insurable

Danzer, Alexander M. - 2011

workers' unobserved heterogeneity and measurement error in the wage shock information. The estimated labor supply responses …

Persistent link: https://www.econbiz.de/10013129923

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