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rates on domestic inflation, which may have contributed to differences in policy stances during the boom in commodity prices …, they cannot explain them all.<P>Réponse de l'inflation aux chocs récents : Les pays du G7 diffèrent-ils les uns des autres … certain nombre de différences dans l'impact estimé des prix à l'importation des produits de base et des taux de change sur l'inflation …
Persistent link: https://www.econbiz.de/10005045826
Persistent link: https://www.econbiz.de/10005641351
Recent studies have indicated that the terms 'NAIRU' (non-accelerating inflation rate of unemployment) and 'natural … features. This study evaluates comparatively the inflation-forecasting power of alternative time-varying estimates of the … twentieth century. The analysis reveals that the overall inflation-forecasting utility of the natural rate of unemployment …
Persistent link: https://www.econbiz.de/10005835658
This paper investigates possible structural changes induced by the Euro on the relations among wages, prices and … Spain, instead, we find evidence that deviations from reference values influence inflation dynamics. …
Persistent link: https://www.econbiz.de/10010719407
Both common macroeconomic shocks and country-specific developments have subjected the flexibility of wage setting mechanisms in the euro area to a stress test in recent years. Against this background, this paper takes a fresh look at wage flexibility in EMU and attempts to draw a few lessons...
Persistent link: https://www.econbiz.de/10005835754
Abwärtsnominallohnstarrheit vom inflationären Umfeld selbst abhängt und in Phasen mit niedriger Inflation sinkt. …
Persistent link: https://www.econbiz.de/10005163001
Abwärtsnominallohnrigidität selbst vom inflationären Umfeld abhängt und in Jahren mit niedriger Inflation sinkt. This paper examines the existence … nominal wage rigidity - under a constant degree of rigidity - are the higher, the lower the inflation rate is. For inflation … of the rigidity itself sinks during years of low inflation. …
Persistent link: https://www.econbiz.de/10005176947
that policies with good frames, including inflation targeting, can mitigate the sacrifice ratio. …
Persistent link: https://www.econbiz.de/10008615623
presence of downwardly rigid nominal wages, low inflation may lead to higher equilibrium unemployment by hindering real wage …Bei Vorliegen nach unten starrer Nominallöhne erschwert niedrige Inflation Reallohnanpassungen und führt so … Auswirkungen bei sehr niedriger Inflation nicht zu vernachlässigen sind. Die Ergebnisse dieser Literatur sollten daher bei der …
Persistent link: https://www.econbiz.de/10005566472
Estimates of the NAIRU are usually derived either from a Phillips curve or from a wage curve. This paper investigates the correspondence between the operational NAIRU-concepts and the steady state of a dynamic wage-price model. We derive the parameter restrictions that secure that...
Persistent link: https://www.econbiz.de/10005573916