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The Phillips curve and long-term unemployment
Llaudes, Ricardo - 2005
This paper studies the role of long-term unemployment in the determination of prices and wages. Labor market theories such as insider-outsider models predict that this type of unemployed are less relevant in the wage formation process than the newly unemployed. This paper looks for evidence of...
Persistent link: https://www.econbiz.de/10011604487
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The slanted-L Phillips curve
Benigno, Pierpaolo; Eggertsson, Gauti B. - 2024
A slanted-L curve is well-suited to represent the non-linearity of the celebrated Phillips curve. We show this using cross-country data of major industrialized economies since 2009, including the inflationary surge of the 2020s. At high unemployment rates, an increase in demand reduces...
Persistent link: https://www.econbiz.de/10014494995
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Derived Measurement in Macroeconomics: Two Approaches for Measuring the NAIRU Considered
Rodenburg, Peter - 2007
This paper investigates two different procedures for the measurement of the NAIRU; one based on structural modeling while the other is a statisticai approach using Vector Auto Regression (VAR)-models. Both measurement procedures are assessed by confronting them with the dominant theory of...
Persistent link: https://www.econbiz.de/10010325543
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The conquest of U.S. inflation: learning and robustness to model uncertainty
Cogley, Timothy; Sargent, Thomas J. - 2005
Previous studies have interpreted the rise and fall of U.S. inflation after World War II in terms of the Fed's changing views about the natural rate hypothesis but have left an important question unanswered. Why was the Fed so slow to implement the low-inflation policy recommended by a natural...
Persistent link: https://www.econbiz.de/10011604524
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New Zealand Labour Market Dynamics: Pre- and Post-global Financial Crisis
Razzak, Weshah - 2014
A persistent increase in the unemployment rate ignites speculations about whether the changes to unemployment are structural or cyclical. The New Zealand economy has been through major restructuring since the mid-1980s. The labour market's institutional changes were the last in the sequence of...
Persistent link: https://www.econbiz.de/10012115670
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„Arbeitsplatzausstattung“ und „Arbeitsplatzlücke“ nach Geschlechtern in Ost- und Westdeutschland
Brautzsch, Hans-Ulrich; Fuchs, Johann; Lang, Cornelia - 2006
- gemessen an Westdeutschland - höhere "Arbeitsplatzlücke" in Ostdeutschland auf der Grundlage von Daten der Regionalen … "Arbeitsplatzausstattung" je 1000 Erwerbsfähigen in Ostdeutschland fast genau so hoch war wie in Westdeutschland. Bei den Frauen lag sie sogar … die geringeren Haushalteinkommen in Ostdeutschland bedingt ist. …
Persistent link: https://www.econbiz.de/10010269955
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Incomes Policies, Expectations and the NAIRU
Pollan, Wolfgang - 2006
that affect the labour market and the wage and price setting system. Disregard of these policy measures in the estimation …
Persistent link: https://www.econbiz.de/10011435195
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Incomes Policies, Expectations and the NAIRU
Pollan, Wolfgang - 2008
Since the 19960s, several countries have adopted income policies in various forms to control inflation that had been interpreted as the result of a distributional struggle between business and labour unions. Recent writings on the NAIRU, however, ignore past policy interventions in the wage and...
Persistent link: https://www.econbiz.de/10011435237
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Sharing the Wealth: An Empirical Analysis of Income Shocks and Intra-Family Transfers in Germany
Croda, Enrica - In: Vierteljahrshefte zur Wirtschaftsforschung 68 (1999) 2, pp. 184-190
Persistent link: https://www.econbiz.de/10011475522
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The use of real-time information in Phillips curve relationships for the euro area
Paloviita, Maritta; Mayes, David - 2004
whether it helps to use the information that was available at the time in the choice of instruments in the estimation of the … time information in the estimation of the Phillips curve is in using forecasts made at the time to represent expectations …
Persistent link: https://www.econbiz.de/10010295655