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unions can demand different hours from different households, directly taking household heterogeneity into account. In this … households work the same amount but prohibits unions from requiring any household to work more than it would like to. This …
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an expansionary shock to monetary policy. Of these features, the most important are staggered wage contracts of average …
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This paper investigates both the effects of domestic monetary policy and external shocks on fundamental macroeconomic variables in six fast growing emerging economies: Brazil, Russia, India, China, South Africa and Turkey - denoted hereafter as BRICS_T. The authors adopt a structural VAR model...
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which key variables affecting household income and wealth are included, such as the unemployment rate, wages, interest rates …-form simulation on micro data from the Household Finance and Consumption Survey, capturing the income composition, the portfolio …
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