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Inflation Adjustment and Labour Market Structures : Evidence from a Multi-Country Study
Nunziata, Luca; Bowdler, Christopher - 2005
An empirical analysis of the impact of labour market structures on the response of inflation to macroeconomic shocks is … presented. Results based on a 20 country panel show that if labour market coordination is high, the effect on inflation of … inflation to its reduced form determinants. These findings are attributed to the behaviour of wages following movements in …
Persistent link: https://www.econbiz.de/10010262222
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Minimum wages, labor market institutions, and female employment and unemployment: A cross-country analysis
Addison, John T.; Ozturk, Orgul Demet - 2010
This paper estimates the effect of minimum wage regulation in 16 OECD countries, 1970-2008. Our treatment is motivated by Neumark and Wascher's (2004) seminal cross-country study using panel methods to estimate minimum wage effects among teenagers and young adults. Apart from the longer time...
Persistent link: https://www.econbiz.de/10010274565
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A general model of technical change with an application to the OECD countries
Heshmati, Almas; Kumbhakar, Subal C. - 2011
In the neoclassical production functions model technical change (TC) is assumed to be exogenous and it is specified as a function of time. However, some exogenous external factors other than time can also affect the rate of TC. In this paper we model TC via a combination of time trend (purely...
Persistent link: https://www.econbiz.de/10010280731
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Examining the Impact of Macro-Economic Conditions on Income Inequality
Jäntti, Markus; Jenkins, Stephen P. - 2001
and inflation rates. Building on the lessons from recent advances in time-series econometrics, we suggest instead that one …
Persistent link: https://www.econbiz.de/10010262571
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A search model of unemployment and inflation
Lehmann, Etienne - 2006
money growth leads to higher inflation and higher unemployment, so the long-run Phillips curve is not vertical. The optimal …
Persistent link: https://www.econbiz.de/10010267772
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Inflation and welfare in long-run equilibrium with firm dynamics
Janiak, Alexandre; Monteiro, Paulo Santos - 2009
We analyze the welfare cost of inflation in a model with cash-in-advance constraints and an endogenous distribution of … establishments' productivities. Inflation distorts aggregate productivity through firm entry dynamics. The model is calibrated to the … United States economy and the long-run equilibrium properties are compared at low and high inflation. We find that, when the …
Persistent link: https://www.econbiz.de/10010269435
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A Kaldor Matching Model of Real Wage Declines
Sattinger, Michael - 2001
A model linking macroeconomic phenomena and income distribution in balanced growth equilibria is developed as a variant to the Kaldor model of factor shares. It departs from the original Kaldor model in assuming equal savings rates and production determined by a matching process between workers...
Persistent link: https://www.econbiz.de/10010262585
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Demography and Provisions for Retirement: The Pension Composition, a Behavioral Approach
van Praag, Bernard M. S.; Hop, J. Peter - 2020
Pensions may be provided for in a modern society by a mix of several methods, namely by voluntary individual savings, mandatory fully-funded occupational pension systems, mandatory social security financed by pay-as-you-go, and old-fashioned hoarding in cash. Here, we call the specific mixture...
Persistent link: https://www.econbiz.de/10012180102
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Bubble Economics and Structural Change: The Cases of Spain and France Compared
Agnese, Pablo; Hromcová, Jana - 2015
This paper delves into the recent events that led to the formation of the housing bubble in Spain and the resulting structural change that is arguably needed to put the economy back into the right track. For this purpose we calibrate a model with different equilibria descriptive of the labor...
Persistent link: https://www.econbiz.de/10010513139
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Interest Rate Hysteresis in Macroeconomic Investment under Uncertainty
Belke, Ansgar H.; Göcke, Matthias - 2019
The interest rate is generally considered as an important driver of macroeconomic investment. As an innovation, this paper derives the exact shape of the "hysteretic" impact of changes in the interest rate on macroeconomic investment under the scenarios of both certainty and uncertainty. We...
Persistent link: https://www.econbiz.de/10012141203