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China's Emergence in the World Economy and Business Cycles in Latin America
Pesaran, M. Hashem - 2011
world have altered the transmission mechanism of international business cycles to Latin America. Evidence based on a Global … world shows that the long-term impact of a China GDP shock on the typical Latin American economy has increased by three … associated with a deceleration in China's economic growth in the future for both Latin America and the rest of the world economy …
Persistent link: https://www.econbiz.de/10013121741
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Asymmetric Labor Market Institutions in the Emu and the Volatility of Inflation and Unemployment Differentials
Abbritti, Mirko - 2012
How does the asymmetry of labor market institutions affect the adjustment of a currency union to shocks? To answer this question, this paper sets up a dynamic currency union model with monopolistic competition and sticky prices, hiring frictions and real wage rigidities. In our analysis, we...
Persistent link: https://www.econbiz.de/10013107467
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Inflation Persistence and the Phillips Curve Revisited
Karanassou, Marika - 2007
A major criticism against staggered nominal contracts is that they give rise to the so called persistency puzzle - although they generate price inertia, they cannot account for the stylised fact of inflation persistence. It is thus commonly asserted that, in the context of the new Phillips curve...
Persistent link: https://www.econbiz.de/10012777470
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Uniform and Nonuniform Staggering of Wage Contracts
Danziger, Leif - 2010
This paper provides a model that can account for the almost uniform staggering of wage contracts in some countries as well as for the markedly nonuniform staggering in others. In the model, short and long contracts as well as long contracts concluded in different periods are strategic...
Persistent link: https://www.econbiz.de/10013141426
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Global Macro-Financial Cycles and Spillovers
Ha, Jongrim - 2020
We develop a new dynamic factor model that allows us to jointly characterize global macroeconomic and financial cycles and the spillovers between them. The model decomposes macroeconomic cycles into the part driven by global and country-specific macro factors and the part driven by spillovers...
Persistent link: https://www.econbiz.de/10012840446
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Informality and Macroeconomic Fluctuations
Fiess, Norbert; Fugazza, Marco; Maloney, William F. - 2021
test for cointegrating relationships corresponding to the patterns predicted by theory. We confirm episodes of expansion of …
Persistent link: https://www.econbiz.de/10013325136
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Nowcasting Business Cycles Using Toll Data
Askitas, Nikos - 2011
-driven economic telemetry, which we suggest should be established more around the world …
Persistent link: https://www.econbiz.de/10013129098
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The Cyclicality of Effective Wages within Employer-Employee Matches in a Rigid Labor Market
Anger, Silke - 2011
This study analyzes real wage cyclicality for male full-time workers within employer-employee matches in Germany over the period 1984-2004. Five different wage measures are compared: the standard hourly wage rate; hourly wage earnings including overtime and bonus pay; the effective wage, which...
Persistent link: https://www.econbiz.de/10013129932
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Cyclical Skill-Biased Technological Change
Balleer, Almut - 2009
Over the past two decades, technological progress has been biased towards making skilled labor more productive. What does skill-biased technological change imply for business cycles? To answer this question, we construct a quarterly series for the skill premium from the CPS and use it to...
Persistent link: https://www.econbiz.de/10013158513
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Real Wages and the Business Cycle : Accounting for Worker and Firm Heterogeneity
Carneiro, Anabela Jesus Moreira - 2009
Using a longitudinal matched employer-employee data set for Portugal over the 1986-2005 period, this study analyzes the heterogeneity in wages responses to aggregate labor market conditions for newly hired workers and existing workers. Accounting for both worker and firm heterogeneity, the data...
Persistent link: https://www.econbiz.de/10013159514