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The role of real wage rigidity and labor market frictions for unemployment and inflation dynamics
Christoffel, Kai; Linzert, Tobias - 2005
persistent movements of aggregate inflation. Moreover, the impact of a monetary policy shock on unemployment and inflation … cycle model. In particular, we analyze the effect of a monetary policy shock and investigate how labor market frictions … employment and hours affecting inflation dynamics via marginal costs. We find that the response of unemployment and inflation to …
Persistent link: https://www.econbiz.de/10010267287
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Global Mobility and the Threat of Pandemics: Evidence from Three Centuries
Clemens, Michael A.; Ginn, Thomas - 2020
Countries restrict the overall extent of international travel and migration to balance the expected costs and benefits of mobility. Given the ever-present threat of new, future pandemics, how should permanent restrictions on mobility respond? A simple theoretical framework predicts that reduced...
Persistent link: https://www.econbiz.de/10012497848
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Causal effects of monetary shocks: semiparametric conditional independence tests with a multinomial propensity score
Angrist, Joshua D.; Kuersteiner, Guido M. - 2008
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/10010270625
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Global business cycles: convergence or decoupling?
Kose, M. Ayhan; Otrok, Christopher M.; Prasad, Eswar - 2008
globalization (1985-2005), there has been some convergence of business cycle fluctuations among the group of industrial economies …
Persistent link: https://www.econbiz.de/10010276108
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Distributional consequences of labor demand adjustments to a downturn: A model-based approach with application to Germany 2008-09
Bargain, Olivier; Immervoll, Herwig; Peichl, Andreas; … - 2010
Macro-level changes can have substantial effects on the distribution of resources at the household level. While it is possible to speculate about which groups are likely to be hardesthit, detailed distributional studies are still largely backward-looking. This paper suggests a straightforward...
Persistent link: https://www.econbiz.de/10010274679
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Cyclical skill-biased technological change
Balleer, Almut; van Rens, Thijs - 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/10010276400
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The role of early-life conditions in the cognitive decline due to adverse events later in life
van den Berg, Gerard J.; Deeg, Dorly J.H.; Lindeboom, … - 2010
Cognitive functioning of elderly individuals may be affected by events such as the loss of a (grand)child or partner or the onset of a serious chronic condition, and by negative economic shocks such as job loss or the reduction of pension benefits. It is conceivable that the impact of such...
Persistent link: https://www.econbiz.de/10010277333
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Short-time work benefits revisited: Some lessons from the Great Recession
Boeri, Tito; Brücker, Herbert - 2011
The Great Recession triggered a resurgence of short-time work (STW) throughout the OECD. Several countries introduced from scratch STW or significantly expanded the scope of the programmes already in place. In some countries like Italy, Japan and Germany between 2.5 and 5 per cent of the...
Persistent link: https://www.econbiz.de/10010278816
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Crises, what crises?
Campos, Nauro F.; Hsiao, Cheng; Nugent, Jeffrey B. - 2006
Recent research convincingly shows that crises beget reform. Although the consensus is that economic crises foster macroeconomic stabilization, it is silent on which types of crises cause which types of reform. Is it economic or political crises that are the most important drivers of structural...
Persistent link: https://www.econbiz.de/10010267978
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How do trade and financial integration affect the relationship between growth and volatility?
Kose, M. Ayhan; Prasad, Eswar S.; Terrones, Marco E. - 2006
context of globalization a term typically used to describe the phenomenon of growing international trade and financial …
Persistent link: https://www.econbiz.de/10010268058