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Inflation persistence and the Phillips curve revisited

Karanassou, Marika; Snower, Dennis J. - 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/10010273163

Inflation Persistence and the Phillips Curve Revisited

Karanassou, Marika; Snower, Dennis J. - Institute for the Study of Labor (IZA) - 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...

Persistent link: https://www.econbiz.de/10005703349

The role of real wage rigidity and labor market frictions for unemployment and inflation dynamics

Christoffel, Kai; Linzert, Tobias - 2005

In this paper we incorporate a labor market with matching frictions and wage rigidities into the New Keynesian business cycle model. In particular, we analyze the effect of a monetary policy shock and investigate how labor market frictions affect the transmission process of monetary policy. The...

Persistent link: https://www.econbiz.de/10010267287

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/10010269942

Sequential bargaining in a new-Keynesian model with frictional unemployment and staggered wage negotiation

de Walque, Gregory; Pierrard, Olivier; Sneessens, Henri R. - 2009

We consider a model with frictional unemployment and staggered wage bargaining where hours worked are negotiated every period. The workers' bargaining power in the hours negotiation affects both unemployment volatility and inflation persistence. The closer to zero this parameter, (i) the more...

Persistent link: https://www.econbiz.de/10010277123

Envy, guilt, and the Phillips curve

Ahrens, Steffen; Snower, Dennis J. - 2012

We incorporate inequity aversion into an otherwise standard New Keynesian dynamic equilibrium model with Calvo wage contracts and positive inflation. Workers with relatively low incomes experience envy, whereas those with relatively high incomes experience guilt. The former seek to raise their...

Persistent link: https://www.econbiz.de/10010282209

Aggregation in large dynamic panels

Pesaran, Mohammad Hashem; Chudik, Alexander - 2011

This paper considers the problem of aggregation in the case of large linear dynamic panels, where each micro unit is potentially related to all other micro units, and where micro innovations are allowed to be cross sectionally dependent. Following Pesaran (2003), an optimal aggregate function is...

Persistent link: https://www.econbiz.de/10010285520

Sind Nominallöhne starr? Neuere Evidenz und wirtschaftspolitische Implikationen

Beissinger, Thomas; Knoppik, Christoph - 2003

Bei Vorliegen nach unten starrer Nominallöhne erschwert niedrige Inflation Reallohnanpassungen und führt so möglicherweise zu erhöhter gleichgewichtiger Arbeitslosigkeit. Dieser Aufsatz analysiert die wachsende Evidenz zu nach unten starren Nominallöhnen. Es werden nicht nur die...

Persistent link: https://www.econbiz.de/10010261537

Sweden's pensioners: how they have fared in the roller coaster ride through the past decade and a half of deep recession and economic exuberance

Gustafsson, Björn; Johansson, Mats; Palmer, Edward - 2007

This study analyses the development of the economic well-being of the elderly in Sweden since 1990 - a period … Survey. The elderly were not isolated as pensions were cut, full indexation abandoned and taxes increased during Sweden … elderly. Overall, poverty among the elderly in Sweden remains low in an international perspective and our analysis leads us to …

Persistent link: https://www.econbiz.de/10010268905

The financial and operating performance of privatized firms in Sweden

Tatahi, Motasam; Heshmati, Almas - 2009

are significantly different to private counterparts. Overall results, however, show that the privatization in Sweden was …

Persistent link: https://www.econbiz.de/10010269001

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