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Labour tax reforms, cross-country coordination and the monetary policy stance in the euro area : a structural model-based approach

Jacquinot, Pascal; Lozej, Matija; Pisani, Massimiliano - 2018

We evaluate the effects of permanently reducing labour tax rates in the euro area (EA) by simulating a large-scale open economy dynamic general equilibrium model. The model features the EA as a monetary union, split in two regions (Home and the rest of the EA - REA), the US, and the rest of the...

Persistent link: https://www.econbiz.de/10011792134

Labour tax reforms, cross-country coordination and the monetary policy stance in the euro area: A structural model-based approach

Jacquinot, Pascal; Pisani, Massimiliano; Lozej, Matija - 2018

Persistent link: https://www.econbiz.de/10011853315

Animal spirits, investment and unemployment : an old Keynesian view of the Great Recession

Guerrazzi, Marco - In: Economia : revista da ANPEC 16 (2015) 3, pp. 343-358

This paper develops a DSGE model with investment and capital accumulation build along demand-driven explanations of the Great Recession. Specifically, following Farmer (2013), I set forth a search framework in which households decide about consumption while firms decide about recruiting effort...

Persistent link: https://www.econbiz.de/10011865573

Shocks and rigidities as determinants of CEE labor markets' performance. A panel SVECM approach

Bukowski, Maciej; Koloch, Grzegorz; Lewandowski, Piotr - Volkswirtschaftliche Fakultät, … - 2008

shocks temporarily increase unemployment. Positive labor demand shocks increase employment, depress unemployment, rise real … average wages, and were found to be the main determinant of variability of employment and unemployment in the short-run. In … employment and unemployment. The retrospective simulations of the model show that Baltic states and Poland were significantly …

Persistent link: https://www.econbiz.de/10005835482

Wage rigidities in an estimated DSGE model of the UK labour market

Faccini, Renato; Millard, Stephen; Zanetti, Francesco - Bank of England - 2011

We estimate a New Keynesian model with matching frictions and nominal wage rigidities on UK data. We are able to identify important structural parameters, recover the unobservable shocks that have affected the UK economy since 1971 and study the transmission mechanism. With matching frictions,...

Persistent link: https://www.econbiz.de/10008914256

Shocks and rigidities as determinants of the CEE labor markets’ performance - a panel SVECM approach -

Bukowski, Maciej Krzysztof; Koloch, Grzegorz; … - Instytut Badań Strukturalnych - 2008

determinant of employment and unemployment variability in the short-run. The retrospective simulations of the model show that the …

Persistent link: https://www.econbiz.de/10011171794

Brazilian macroeconomic dynamics redux : shocks, frictions, and unemployment in SAMBA model

Fasolo, Angelo Marsiglia; Araujo, Eurilton; Jorge, … - In: Latin American journal of central banking : LAJCB 5 (2024) 2, pp. 1-36

, such as involuntary unemployment, imported goods in the consumption bundle and a new identified vector auto …

Persistent link: https://www.econbiz.de/10015055215

Animal spirits, investment and unemployment: An old Keynesian view of the Great Recession

Guerrazzi, Marco - In: EconomiA 16 (2015) 3, pp. 343-358

Persistent link: https://www.econbiz.de/10011858445

Nominal and Real Wage Rigidities. In Theory and in Europe

Knell, Markus - 2010

In this paper I study the relation between real wage rigidity (RWR) and nominal price and wage rigidity. I show that in a standard DSGE model RWR is mainly affected by the interaction of the two nominal rigidities and not by other structural parameters. The degree of RWR is, however,...

Persistent link: https://www.econbiz.de/10013370078

Labor Market Reforms and Current Account Imbalances: Beggar-Thy-Neighbor Policies in a Currency Union?

Baas, Timo; Belke, Ansgar - 2014

Member countries of the European Monetary Union (EMU) initiated wide-ranging labor market reforms in the last decade. This process is ongoing as countries that are faced with serious labor market imbalances perceive reforms as the fastest way to restore competitiveness within a currency union....

Persistent link: https://www.econbiz.de/10010409418