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We construct and estimate a unified model combining three of the main sources of cross-country income disparities: differences in factor endowments, barriers to technology adoption and the inappropriateness of frontier technologies to local conditions. The key components are different types of...
Persistent link: https://www.econbiz.de/10010316866
We propose a simple but effective estimation procedure to extract the level and the volatilitydynamics of a latent macroeconomic factor from a panel of observable indicators. Our approachis based on a multivariate conditionally heteroskedastic exact factor model that cantake into account the...
Persistent link: https://www.econbiz.de/10009305116
This paper develops a set of leading indicators of industrial production growth and consumer price inflation for the … inflation. Our findings provide evidence on the factors determining real activity and inflation in a period of disinflation and …
Persistent link: https://www.econbiz.de/10010500195
This study analyses India's inflation using the Phillips curve theory. To estimate an open-economy Phillips curve, we … need three variables: (1) inflation (2) the output gap and (3) the real effective exchange rate. In India, the incorrect … composite consumer price index (CCPI) was the best measure of inflation, and should be used to construct the real effective …
Persistent link: https://www.econbiz.de/10011807665
inflation and declining real wages - governments must engage in a transformative agenda and go beyond emergency energy vouchers … a starting point; a permanent policy of automatic adjustment of wages to inflation rates in all member states should be … promoted; and strengthening collective bargaining agreements ought to be re-invigorated for a fair sharing of productivity …
Persistent link: https://www.econbiz.de/10014474497
We quantitatively analyze the way inflation alters the inequality of the income distribution in the U.S. economy. The … main mechanism emphasized in this paper is the bracket creep effect according to which inflation pushes income into higher …, we study time series from the U.S. economy. As our central result we find that irrespective of the level of inflation …
Persistent link: https://www.econbiz.de/10010320808
model presents a 'price rule' for government spending that ensures that the ELR is not a source of inflation. Indeed, the …
Persistent link: https://www.econbiz.de/10010286518
We study possible factors behind the subdued inflation in the United States since the mid-1990s. A standard …, consumer price inflation and producer price inflation shows an otherwise unexplained downward shift in CPI inflation since the … simulation of the wage-price spiral shows that the low level of U.S. inflation during the late 1990s stems from coincidental …
Persistent link: https://www.econbiz.de/10012143580
This paper explores the features of a dynamic multisectoral model which focuses on the relationship between income distribution, growth and international specialization. The model is explored both for the steady-state properties and the transitory dynamics of integrated economies. Income...
Persistent link: https://www.econbiz.de/10010294524
the wage-productivity gap could enlighten economic policy. …
Persistent link: https://www.econbiz.de/10010368155