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The Economic Consequences of the International Migration of Labor
Hanson, Gordon H. - 2010
values, the elasticities of wages, prices, taxes, and government transfers with respect to national labor supplies, as well …
Persistent link: https://www.econbiz.de/10012758151
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Temperature and the Allocation of Time : Implications for Climate Change
Graff Zivin, Joshua - 2010
In this paper we estimate the impacts of climate change on the allocation of time using econometric models that exploit plausibly exogenous variation in daily temperature over time within counties. We find large reductions in U.S. labor supply in industries with high exposure to climate and...
Persistent link: https://www.econbiz.de/10013148102
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Understanding Long-Run Price Dispersion
Crucini, Mario J. - 2013
attributed to service-sector wages, consistent with a dominant role of the retail distribution margin. Second, at the level of … individual goods and services, the average contribution of service-sector wages is significantly reduced, one-third as large (31 … consistent with the notion that baby-sitting services and haircuts embody local wages to a far greater extent than highly traded …
Persistent link: https://www.econbiz.de/10013086670
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Offshoring and Labor Markets
Hummels, David L. - 2016
We survey the recent empirical literature on the effects of offshoring on wages, employment and displacement. We start …
Persistent link: https://www.econbiz.de/10012997887
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The Great Disconnect : The Decoupling of Wage and Price Inflation in Japan
Hoshi, Takeo; Kashyap, Anil K. - 2022
correlations between labor market tightness and wages weakened noticeably. This change was accompanied in a break in the … relationship between wages and prices, so wage inflation has become a much less important determinant of price inflation …
Persistent link: https://www.econbiz.de/10013298204
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Central Bank Credibility, Reputation and Inflation Targeting in Historical Perspective
Bordo, Michael D. - 2014
This paper examines the historical evolution of central bank credibility using both historical narrative and empirics for a group of 16 countries, both advanced and emerging. It shows how the evolution of credibility has gone through a pendulum where credibility was high under the classical gold...
Persistent link: https://www.econbiz.de/10013043621
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How the Bundesbank Conducts Monetary Policy
Clarida, Richard; Gertler, Mark - 2021
This paper analyzes German monetary policy in the post-Bretton Woods era. Despite the public focus on monetary targeting, in practice, German monetary policy involves the management of short term interest rates, as it does in the United States. Except during the mid to late 1970s, the Bundesbank...
Persistent link: https://www.econbiz.de/10013235581
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Changing Monetary Policy Rules, Learning, and Real Exchange Rate Dynamics
Mark, Nelson C. - 2021
When central banks set nominal interest rates according to an interest rate reaction function, such as the Taylor rule, and the exchange rate is priced by uncovered interest parity, the real exchange rate is determined by expected inflation differentials and output gap differentials. In this...
Persistent link: https://www.econbiz.de/10013237961
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Monetary Policy in Japan, Germany and the United States : Does One Size Fit All?
Chinn, Menzie David; Dooley, Michael P. - 2021
We study the post-war evidence for Japan to see if the same specification for both the economy and the monetary policy rule is useful for understanding Japan's economy and monetary policy. A recurrent theme in the literature on Japanese monetary policy is that there are significant differences...
Persistent link: https://www.econbiz.de/10013245712
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Central Bank Credibility : An Historical and Quantitative Exploration
Bordo, Michael D. - 2015
In this paper we provide empirical measures of central bank credibility and augment these with historical narratives from eleven countries. To the extent we are able to apply reliable institutional information we can also indirectly assess their role in influencing the credibility of the...
Persistent link: https://www.econbiz.de/10013030622