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aggregate inflation and the higher-order moments of the distribution of relative price changes. Our empirical findings confirm … explanatory variable for the inflation rate. Further, the skewness measure also helps to explain shifts in the Phillips curve …
Persistent link: https://www.econbiz.de/10010260622
Corporate tax reforms carried out in EU countries since 1980 entail lower statutory tax rates and reductions in generous tax depreciation provisions. Several countries including the UK have reduced tax rates for SMEs. This study compares incentive effects of such reforms on the SMEs? investment...
Persistent link: https://www.econbiz.de/10010261282
With interest groups significantly affecting economic performance (according to Mancur Olson) and a vital interest of governments in economic growth and low unemployment in order to win elections, there should be a link between political business cycles and the evolution of lobbies over time...
Persistent link: https://www.econbiz.de/10010270371
unionization of parliamentary members has a negative impact on economic growth and at the same time increases inflation while …
Persistent link: https://www.econbiz.de/10010270380
We use parametric power ARCH models of the conditional variance of inflation to model the relationship between … inflation and its uncertainty using monthly data for Germany, the Netherlands and Sweden over a period ranging from 1962 to 2004 ….For all three countries inflation significantly raises inflation uncertainty as predicted by Friedman. Increased …
Persistent link: https://www.econbiz.de/10010274364
Using the statistical technique of fuzzy clustering, regimes of inflation and unemployment are explored for the United … inflation/unemployment space. There is considerable similarity across the countries in both the regimes themselves and in the … timings of the transitions between regimes. However, the typical rates of inflation and unemployment experienced in the …
Persistent link: https://www.econbiz.de/10010299186
aggregate inflation and the higher-order moments of the distribution of relative price changes. Our empirical findings confirm … explanatory variable for the inflation rate. Further, the skewness measure also helps to explain shifts in the Phillips curve …
Persistent link: https://www.econbiz.de/10011476471
Inflation differentials in the Euro area are mainly due to a sustained divergence of wage developments across the Euro … inflation using unit labour cost (ULC) growth and applying PANIC (Bai and Ng, 2004) and cluster procedures (Hobijn and Franses …
Persistent link: https://www.econbiz.de/10010426362
This paper compares relative unit labour cost developments in the countries of the euro-area since the beginning of the European Monetary Union (EMU) both with historical developments and with intra-regional unit labour cost developments in the United States of America and Germany. To this end,...
Persistent link: https://www.econbiz.de/10010426369
Several recent surveys ask for a person's subjective probabilities that the in- ation rate falls into various outcome ranges. We provide a new measure of the uncertainty implicit in such probabilities. The measure has several advantages over existing methods: It is trivial to implement, requires...
Persistent link: https://www.econbiz.de/10012153653