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Education, Market Rigidities and Growth
Aghion, Philippe; Askenazy, Philippe; Bourlès, Renaud; … - 2021
This note investigates the effects of the education level, product market rigidities and employment protection legislation on growth. It exploits macro-panel data for OECD countries. For countries close to the technological frontier, education and rigidities are significantly related to TFP...
Persistent link: https://www.econbiz.de/10013316704
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Estimating the Wage Elasticity of Labour Supply to a Firm : What Evidence is There for Monopsony?
Booth, Alison L. - 2010
intuition is that, where workers have heterogeneous preferences or face mobility costs, firms can offer lower wages without …
Persistent link: https://www.econbiz.de/10013138270
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Wage Determination and Imperfect Competition
Booth, Alison L. - 2014
A striking feature of the past few decades has been the development of wage-determination models that assume that labour markets are imperfectly competitive. This paper discusses two such models (trade unions and oligopsony), although there are many more. It also asks if imperfectly competitive...
Persistent link: https://www.econbiz.de/10013056654
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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 … persistence. The existence of complementarities means that beyond understanding how wage and price staggering work in isolation …
Persistent link: https://www.econbiz.de/10013316832
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The Design of Insurance Coverage for Medical Products Under Imperfect Competition
Bardey, David - 2015
market for the medical product. Various scenarios, such as monopoly pricing, price negotiation or horizontal differentiation … price, which is then set so that the producer's revenue just covers fixed costs.Consequently, a suitable regulation of the … necessary. Interestingly the optimal policy closely resembles a reference price mechanism in which copayment rates are low …
Persistent link: https://www.econbiz.de/10013028181
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Hyperbolic Discounting and Positive Optimal Inflation
Graham, Liam - 2011
The Friedman rule states that steady-state welfare is maximized when there is deflation at the real rate of interest. Recent work by Khan et al (2003) uses a richer model but still finds deflation optimal. In an otherwise standard new Keynesian model we show that, if households have hyperbolic...
Persistent link: https://www.econbiz.de/10013125143
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Labor Turnover Costs, Workers' Heterogeneity, and Optimal Monetary Policy
Faia, Ester - 2009
We study the design of optimal monetary policy in a New Keynesian model with labor turnover costs in which wages are …
Persistent link: https://www.econbiz.de/10013157529
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Sequential Bargaining in a New-Keynesian Model with Frictional Unemployment and Staggered Wage Negotiation
de Walque, Gregory - 2009
) the lower the effective workers' bargaining power for wages and (iii) the more important the hourly wage in the marginal …
Persistent link: https://www.econbiz.de/10012764242
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Nominal Wage Rigidities in a New Keynesian Model with Frictional Unemployment
Bodart, Vincent; de Walque, Gregory; Pierrard, Olivier; … - 2021
In this paper, we propose a search and matching model with nominal stickiness à la Calvo in the wage bargaining. We analyze the properties of the model, first, in the context of a typical real business cycle model driven by stochastic productivity shocks and second, in a fully specified...
Persistent link: https://www.econbiz.de/10013317263
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On Identification of Bayesian DSGE Models
Koop, Gary - 2011
In recent years there has been increasing concern about the identification of parameters in dynamic stochastic general equilibrium (DSGE) models. Given the structure of DSGE models it may be difficult to determine whether a parameter is identified. For the researcher using Bayesian methods, a...
Persistent link: https://www.econbiz.de/10013126923