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Does time-varying business volatility affect the price setting of firms and thus the transmission of monetary policy into the real economy? To address this question, we estimate from the firm-level micro data of the German IFO Business Climate Survey the impact of idiosyncratic volatility on the...
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This paper assesses Italy’s 2019 tax and benefit reforms, analyses hypothetical reforms and proposes a reform package that balances goals of reducing poverty, encouraging employment and fiscal sustainability. Using the OECD’s Tax-Benefit and the EUROMOD microsimulation models, it shows that...
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A decomposition of changes to participation rates of 55-to-74 year-olds between 2002 and 2017 based on an estimated equation attributes more than two thirds of the median increase (of 10.9 percentage points) to rising life expectancy and educational attainment. About 1 percentage point is...
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provoking vociferous political opposition. Empirical cross-country estimation work consistently finds that coefficients on …
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employment and wages in the United Kingdom. It finds that firms can benefit from services trade, through increased employment …, production and productivity. On average, workers’ wages are also positively impacted by increased services trade. The findings … suggest that services imports enhance female wages more than those of males, thereby contributing to narrow the gender wage …
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