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Real wages and business cycle asymmetries : presented at CESifo conference "Academic Use of ifo Survey Data", December 2003

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/10011449261

Has the Asymmetric Effect of Oil Price Volatility in Inflation Expectations Been Impacted by the COVID-19 Outbreak? A Comparison between the United States and China

Nie, Qing - 2022

This paper applies ARDL and Nonlinear ARDL models to long-term inflation targeting policy mechanisms in the United States and China to assess the impact of oil price dynamics and asymmetries on inflation expectations in the two countries, as well as the difference of this impact before and after...

Persistent link: https://www.econbiz.de/10013289383

Has the Asymmetric Effect of Oil Price Change in Inflation Expectations Been Impacted by the COVID-19 Outbreak? A Comparison Between the United States and China

Nie, Qing - 2023

Economists and policymakers believe that households’ and firms’ expectations of future inflation are key determinants of actual inflation. This paper applies the ARDL model and nonlinear ARDL model to long-term inflation-targeting policy mechanisms in the United States and China to assess...

Persistent link: https://www.econbiz.de/10014348155

Wie wirken die automatischen Stabilisatoren in der Wirtschaftskrise? : Deutschland im Vergleich mit der EU und den USA

Dolls, Mathias; Fuest, Clemens; Peichl, Andreas - 2009

Europäischen Union und in den USA in der aktuellen Wirtschaftskrise. Dazu werden zwei Szenarien simuliert: erstens ein … absorbiert werden, verglichen mit 32 % in den USA. Im Fall des Beschäftigungsschocks ist der Unterschied zwischen Europa und den … USA deutlich größer: 48 % in der EU und lediglich 34 % in den USA. Unter der Annahme, dass nur die Nachfrage …

Persistent link: https://www.econbiz.de/10003879733

Automatic stabilisers and economic crisis : US vs Europe

Dolls, Mathias; Fuest, Clemens; Peichl, Andreas - 2010

This paper analyzes the effectiveness of the tax and transfer systems in the European Union and the US to act as an automatic stabilizer in the current economic crisis. We find that automatic stabilizers absorb 38 per cent of a proportional income shock in the EU, compared to 32 per cent in the...

Persistent link: https://www.econbiz.de/10003989856

Automatic stabilization and discretionary fiscal policy in the financial crisis

Dolls, Mathias; Fuest, Clemens; Peichl, Andreas - In: IZA journal of labor policy 1 (2012), pp. 1-19

This paper investigates the relationship between the magnitude of automatic stabilizers in the tax and transfer systems of 19 EU countries and the US, and discretionary fiscal stimulus packages passed by these countries during the recent economic crisis. In particular, we ask whether countries...

Persistent link: https://www.econbiz.de/10009687338

Germany and the United States in coronavirus distress : internal versus external labour market flexibility

Herzog-Stein, Alexander; Nüß, Patrick; Peede, Lennert; … - In: Journal for labour market research 56 (2022) 1, pp. 1-22

Germany and the United States pursued different economic strategies to minimise the impact of the Coronavirus Crisis on the labour market. Germany focused on safeguarding existing jobs through the use of internal flexibility measures, especially short-time work (STW). The United States relied on...

Persistent link: https://www.econbiz.de/10013368682

Living Up to Expectations : Central Bank Credibility, the Effectiveness of Forward Guidance, and Inflation Dynamics Post-Global Financial Crisis

Cole, Stephen J.; Martínez-García, Enrique; Sims, Eric R. - National Bureau of Economic Research - 2023

This paper studies the effectiveness of forward guidance when central banks have imperfect credibility. Exploiting unique survey-based measures of expected inflation, output growth, and interest rates, we estimate a small-scale New Keynesian model for the United States and other G7 countries...

Persistent link: https://www.econbiz.de/10014421202

The dynamics of entrepreneurship : hysteresis, business cycles and government policy

Congregado, Emilio; Golpe, Antonio A.; Parker, Simon C. - 2009

This paper estimates an unobserved components model to explore the macro dynamics of entrepreneurship in Spain and the US. We ask whether entrepreneurship exhibits hysteresis, defined as a macro dynamic structure in which cyclical fluctuations have persistent effects on the natural rate of...

Persistent link: https://www.econbiz.de/10003830249

The Role of Credit Aggregates and Asset Prices in the Transmission Mechanism : A Comparison Between the Euro Area and the US

Kaufmann, Sylvia; Valderrama, Maria Teresa - 2021

We analyze the interaction between credit and asset prices in the transmission of shocks to the real economy. We estimate a Markov switching VAR for the euro area and the US, including additionally GDP, CPI and a short-term interest rate. We find evidence for two distinct states in both regions....

Persistent link: https://www.econbiz.de/10013316838

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