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Price, wage and employment response to shocks
Bertola, Giuseppe; Dabusinskas, Aurelijus; Hoeberichts, … - 2010
This paper analyses information from survey data collected in the framework of the Eurosystem’s Wage Dynamics Network (WDN) on patterns of firm-level adjustment to shocks. We document that the relative intensity and the character of price vs. cost and wage vs. employment adjustments in...
Persistent link: https://www.econbiz.de/10009640395
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How flexible are real wages in EU countries?
Heinz, Frigyes Ferdinand; Rusinova, Desislava - 2011
In this paper we estimate the degree of real wage flexibility in 19 EU countries in a wage Phillips curve panel framework. We find evidence for a reaction of wage growth to unemployment and productivity growth. However, due to unemployment persistence, over time the real wage response weakens...
Persistent link: https://www.econbiz.de/10009640910
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Foreign direct investment and international business cycle comovement
Jansen, W. Jos; Stokman, Ad C. J. - 2004
This paper investigates the relationship between bilateral FDI positions and cross-country business cycle correlations in the period 1982–2001. We find that countries that have comparatively intensive FDI relations also have more synchronized business cycles during 1995–2001. Before 1995, we...
Persistent link: https://www.econbiz.de/10009639461
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How Do Firms Respond to Hiring Difficulties? Evidence from the Federal Reserve Banks' Small Business Credit Survey
De Zeeuw, Mels - 2020
Using data from the Federal Reserve Banks' 2017 Small Business Credit Survey (SBCS), this paper investigates the various ways in which different types of firms with less than 500 employees experience and address hiring difficulties, including when they decide to increase compensation. {{p}} The...
Persistent link: https://www.econbiz.de/10012851545
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Monetary Policy and Wage Inflation
Mushin, Jerry - 2010
Persistent link: https://www.econbiz.de/10013149208
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The Fed's real reaction function : monetary policy, inflation, unemployment, inequality and presidential politics
Galbraith, James K. (contributor);  … - 2007
Using a VAR model of the American economy from 1984 to 2003, we find that, contrary to official claims, the Federal Reserve does not target inflation or react to inflation signals.ʺ Rather, the Fed reacts to the very realʺ signal sent by unemployment, in a way that suggests that a baseless...
Persistent link: https://www.econbiz.de/10003727095
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The Fed's Real Reaction Function Monetary Policy, Inflation, Unemployment, Inequality - and Presidential Politics
Galbraith, James K.; Giovannoni, Olivier G.; Russo, Ann J. - 2007
Using a VAR model of the American economy from 1984 to 2003, we find that, contrary to official claims, the Federal Reserve does not target inflation or react to "inflation signals." Rather, the Fed reacts to the very "real" signal sent by unemployment, in a way that suggests that a baseless...
Persistent link: https://www.econbiz.de/10014224945
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Has the Inflation Process Changed?
Cecchetti, Stephen G.; Debelle, Guy - 2013
On 18-19 June 2004, the BIS held a conference on "Understanding Low Inflation and Deflation". This event brought together central bankers, academics and market practitioners to exchange views on this issue (see the conference programme in this document). This paper was presented at the workshop....
Persistent link: https://www.econbiz.de/10014060825
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Are Real Wages Procyclical Conditional on a Monetary Policy Shock?
Ma, Eunseong - 2020
It is well-known that real wages are procyclical conditional on a monetary policy shock. This paper challenges this … conventional view by using a quantitative heterogeneous-agent New Keynesian economy with sticky wages. In the model with benchmark … wages (average hourly earnings) increase. This implies that true real wages may be countercyclical conditional on a monetary …
Persistent link: https://www.econbiz.de/10014091478
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Downward Nominal Wage Rigidity and Asymmetric Effects of Monetary Policy
Jackson, Laura E.; Kurt, Ezgi - 2023
-sector industries with downward-sticky (downward-flexible) wages show larger (muted) employment losses in response to monetary …
Persistent link: https://www.econbiz.de/10014256930