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Real wages and the business cycle in Germany
Marczak, Martyna; Beissinger, Thomas - 2010
This paper establishes stylized facts about the cyclicality of real consumer wages and real producer wages in Germany. As detrending methods we apply the deterministic trend model, the Beveridge-Nelson decomposition, the Hodrick-Prescott filter, the Baxter-King filter and the structural time...
Persistent link: https://www.econbiz.de/10010302616
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Real wages over the business cycle: OECD evidence from the time and frequency domains
Messina, Julián; Strozzi, Chiara; Turunen, Jarkko - 2009
We study differences in the adjustment of aggregate real wages in the manufacturing sector over the business cycle across OECD countries, combining results from different data and dynamic methods. Summary measures of cyclicality show genuine cross-country heterogeneity even after controlling for...
Persistent link: https://www.econbiz.de/10011605049
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Real wages and the business cycles in Germany
Marczak, Martyna; Beissinger, Thomas - 2010
This paper establishes stylized facts about the cyclicality of real consumer wages and real producer wages in Germany. As detrending methods we apply the deterministic trend model, the Beveridge-Nelson decomposition, the Hodrick-Prescott filter, the Baxter-King filter and the structural time...
Persistent link: https://www.econbiz.de/10010274586
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Real wages over the business cycle: OECD evidence from the time and frequency domains
Messina, Julián; Strozzi, Chiara; Turunen, Jarkko - 2008
We study differences in the adjustment of aggregate real wages in the manufacturing sector over the business cycle across OECD countries, combining results from different data and dynamic methods. Summary measures of cyclicality show genuine cross-country heterogeneity even after controlling for...
Persistent link: https://www.econbiz.de/10010275887
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Cyclicality of real wages in the USA and Germany: New insights from wavelet analysis
Marczak, Martyna; Gómez, Víctor - 2012
This article provides new insights into the cyclical behavior of consumer and producer real wages in the USA and Germany. We apply two methods for the estimation of the cyclical components from the data: the approach based on the structural time series models and the ARIMA-model-based approach...
Persistent link: https://www.econbiz.de/10010309235
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Real wages and business cycle asymmetries
Woitek, Ulrich - 2004
The cyclicality of real wages has important implications for the validity of competing business cycle theories. However, the empirical evidence on the aggregate level is inconclusive. Using a threshold vector autoregressive model for the US and Germany to condition the relationship between real...
Persistent link: https://www.econbiz.de/10010261205
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Government size and business cycle volatility: How important are credit constraints?
Leibrecht, Markus; Scharler, Johann - 2012
In this paper we analyze how the availability of credit influences the relationship between government size as a proxy for fiscal stabilization policy and the amplitude of business cycle fluctuations in a sample of advanced OECD countries. Interpreting relatively low loan-tovalue ratios as an...
Persistent link: https://www.econbiz.de/10010294478
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Business Cycle Volatility in Germany
Buch, Claudia M.; Doepke, Joerg; Pierdzioch, Christian - 2002
Stylized facts suggest that output volatility in OECD countries has declined in recent years. However, the causes and … structural breaks in the dynamics and the volatility of the real output process in Germany can be detected. We report evidence … that output volatility has declined in Germany. Yet, this decline in output volatility is not as clear-cut as it is in the …
Persistent link: https://www.econbiz.de/10010260526
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Unemployment fluctuation with staggered Nash wage bargaining
Gertler, Mark; Trigari, Antonella - 2006
A number of authors have recently emphasized that the conventional model of unemployment dynamics due to Mortensen and Pissarides has difficulty accounting for the relatively volatile behavior of labor market activity over the business cycle. We address this issue by modifying the MP framework...
Persistent link: https://www.econbiz.de/10010298358
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The vanishing procyclicality of labor productivity
Galí, Jordi; van Rens, Thijs - 2010
vanished, (ii) the relative volatility of employment has risen, and (iii) the relative (and absolute) volatility of the real … observed decline in output volatility. …
Persistent link: https://www.econbiz.de/10010270843