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Fiscal Policy, Wealth Effects, and Markups
Monacelli, Tommaso - 2008
We document that variations in government purchases generate a rise in consumption, the real and the product wage, and a fall in the markup. This evidence is robust across alternative empirical methodologies used to identify innovations in government spending (structural VAR vs. narrative...
Persistent link: https://www.econbiz.de/10012464065
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Labor Supply : Are the Income and Substitution Effects Both Large or Both Small?
Kimball, Miles S. - 2008
Labor supply is unresponsive to permanent changes in wage rates. Thus, income and substitution effects cancel, but are they both close to zero or both large? This paper develops a theory of labor supply where income and substitution effects cancel, taking into account optimization over time,...
Persistent link: https://www.econbiz.de/10012464439
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Minimally Altruistic Wages and Unemployment in a Matching Model
Rotemberg, Julio J. - 2008
This paper presents a model in which firms recruit both unemployed and employed workers by posting vacancies. Firms act monopsonistically and set wages to retain their existing workers as well as to attract new ones. The model differs from Burdett and Mortensen (1998) in that its assumptions...
Persistent link: https://www.econbiz.de/10012464892
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Capital Market Integration and Wages
Chari, Anusha - 2009
For three years after the typical emerging economy opens its stock market to inflows of foreign capital, the average annual growth rate of the real wage in the manufacturing sector increases by a factor of three. No such increase occurs in a control group of countries. The temporary increase in...
Persistent link: https://www.econbiz.de/10012463445
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On the Instability of Variance Decompositions of the Real Exchange Rate across Exchange-Rate-Regimes : Evidence from Mexico and the United States
Mendoza, Enrique G. - 2000
Variance decompositions of the Mexico-United States real exchange rate are examined using monthly data on consumer … tradable goods and nominal exchange rates holds only in periods in which Mexico was not under a regime of exchange …-rate management. In periods in the sample in which Mexico had a managed exchange-rate regime, the variability of prices of non …
Persistent link: https://www.econbiz.de/10012470982
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Sudden Stops, Sectoral Reallocations, and the Real Exchange Rate
Kehoe, Timothy J. - 2008
the Mexican economy, and use it to analyze Mexico's 1994-95 crisis. When subjected to a sudden stop, the model accounts …
Persistent link: https://www.econbiz.de/10012464252
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Real Exchange Rate Volatility and the Price of Nontradables in Sudden-Stop-Prone Economies
Mendoza, Enrique G. - 2005
, and the Sudden Stops that accompanied the collapse of Mexico's managed exchange rates, could result from an endogenous …
Persistent link: https://www.econbiz.de/10012466985
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Large Devaluations and the Real Exchange Rate
Burstein, Ariel - 2004
large devaluation episodes: Argentina (2001), Brazil (1999), Korea (1997), Mexico (1994), and Thailand (1997). We conduct a …
Persistent link: https://www.econbiz.de/10012467701
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Mexico's 1994 Exchange Rate Crisis Interpreted in Light of the Non-Traded Model
Warner, Andrew M. - 1997
reasonably successful empirical account of why Mexico needed to devalue its exchange rate in 1994. This model provides a way to … rate crisis in other developing countries. The results suggest that Mexico's exchange rate was about 25 percent overvalued …
Persistent link: https://www.econbiz.de/10012472649
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Strengthening State Capabilities : The Role of Financial Incentives in the Call to Public Service
Dal Bó, Ernesto - 2012
We study a recent recruitment drive for public sector positions in Mexico. Different salaries were announced randomly …
Persistent link: https://www.econbiz.de/10012460505