Showing 1 - 10 of 332
Using a standard dynamic general equilibrium model, we show that the interaction of staggered nominal contracts with hyperbolic discounting leads to inflation having significant long-run effects on real variables...
Persistent link: https://www.econbiz.de/10005859701
The Phillips curve has flattened in Spain over 1995-2006: unemployment has fallen by 15percentage points, with roughly constant inflation. This change has been more pronouncedthan elsewhere...
Persistent link: https://www.econbiz.de/10005860587
In light of nonstationary search theory (van den Berg, 1990), this paper estimates the effectsof benefit entitlement …
Persistent link: https://www.econbiz.de/10005863253
Recent theoretical work has examined the spatial distribution of unemployment using theefficiency wage model as the mechanism by which unemployment arises in the urbaneconomy. This paper extends the standard efficiency wage model in order to allow forbehavioral substitution between leisure time...
Persistent link: https://www.econbiz.de/10005863255
Die Beschäftigungswirkungen von Steuersenkungen und Änderungen der Steuerprogressionwerden in Modellen mit Lohnverhandlungen und Effizienzlöhnen untersucht.Es zeigt sich, daß die betrachteten Standardmodelle die positiven Effekteeiner steileren Steuerprogression überzeichnen;...
Persistent link: https://www.econbiz.de/10005852903
This paper examines the Turkish wage curve using individual data from the HouseholdLabor Force Survey (HLFS) including 26 NUTS-2 regions over the period 2005-2008.When the local unemployment rate is treated as predetermined, there is evidence infavor of the wage curve only for younger and female...
Persistent link: https://www.econbiz.de/10009360532
We examine the global dimension of inflation in 24 OECD countries between 1980 and 2007in a traditional Phillips curve framework. We decompose output gaps and changes in unitlabor costs into common (or global) and idiosyncratic components using a factor analysis andintroduce these components...
Persistent link: https://www.econbiz.de/10005866174
Persistent link: https://www.econbiz.de/10005866230
An optimizingmodel, with a flexible-price sector and a sticky-price sector, ispresented to analyze the effects of relative-price changes on inflation fluctuations. Therelative price of the flexible-price good represents a shift parameter of the NewKeynesian Phillips curve. The optimal monetary...
Persistent link: https://www.econbiz.de/10005869370
In this paper, we investigate the information content of implied probabilities (Back and Brown, 1993) to improve estimation in unconditional moment conditions models. We propose and evaluate two 3-step euclidian empirical likelihood estimators and their bias-correction versions for weakly...
Persistent link: https://www.econbiz.de/10005857757