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We use data on enterprise level from a survey of medium sized and big companies to test for downward nominal wage rigidity in Poland. We find relatively weak support for downward nominal wage rigidity when average total compensation in the enterprise is taken into account. However, since this...
Persistent link: https://www.econbiz.de/10005619791
In this paper we introduce a small Keynesian model of economic growth which is centered around two advanced types of Phillips curves, one for money wages and one for prices, both being augmented by perfect myopic foresight and supplemented by a measure of the medium-term inflationary climate...
Persistent link: https://www.econbiz.de/10010605118
of an inflation, induced primarily by monetary forces, when nominal wages failed to keep pace with the rise in consumer …
Persistent link: https://www.econbiz.de/10005704755
reciprocal relationship. The variable considered are: unemployment, inflation, consumptions, investments and current accounts. We … between investment and unemployment, c) we show the revival of the Phillips curve, especially in Germany, d) we test for the … relationship between unemployment and the Government deficit, e) we show the existence of a relationship between unemployment and …
Persistent link: https://www.econbiz.de/10011261122
reciprocal relationship. The variables considered are: unemployment, inflation, consumptions, investments and current accounts …-Okun relationship between investment and unemployment, c) we show the revival of the Phillips curve, especially in Germany, d) we test … for the relationship between unemployment and the Government deficit, e) we show the existence of a relationship between …
Persistent link: https://www.econbiz.de/10010795487
economic growth, the lack of productivity, the high rate of the unemployment, the volatility of the inflation and its impact … interdependence/statistical correlation between inflation and unemployment should be considered. …
Persistent link: https://www.econbiz.de/10010860009
inflation and unemployment in the long run, using quarterly US data from 1952 to 2010, and state-of-the art econometric methods … relationship between inflation and unemployment is positive in the long run. …. Using a band-pass filter approach, we find strong evidence that a positive relationship exists, where inflation leads …
Persistent link: https://www.econbiz.de/10010907072
This volume is a collection of articles reprinted from top refereed journals and contains the most influential scholarly papers published by CERGE-EI faculty over the past 20 years. An introduction is by Lubomír Lízal, Associate Professor with Tenure at CERGE-EI and member of the Board of the...
Persistent link: https://www.econbiz.de/10010940911
This paper calculates the NAIRU for the US in a framework that allows inflation and unemployment to be jointly … endogenous. We define the NAIRU as being the component of actual unemployment that is uncorrelated with inflation in the long run …. We use a structural VAR to estimate the NAIRU and core inflation simultaneously and with greater precision than most of …
Persistent link: https://www.econbiz.de/10010944929
consumption and inflation thresholds are estimated; and e) Germany successfully passed through the European recession by sharply …We specify a VEC model based on six main macroeconomic imbalances to explain the Great European Recession, in Germany …, France, Spain and Italy, from 1999 to 2013, estimating their long-term relationships. We focus on employment and unemployment …
Persistent link: https://www.econbiz.de/10011277371