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A Test of the 'Krugman Hypothesis' for the United States, Britain, and Western Germany
Puhani, Patrick A. - 2003
Rising wage inequality in the U.S. and Britain (especially in the 1980s) and rising continental European unemployment (with rather stable wage inequality) have led to a popular view in the economics profession that these two phenomena are related to negative relative demand shocks against the...
Persistent link: https://www.econbiz.de/10010297281
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Wage rigidities in Western Germany? Microeconometric evidence from the 1990s
Puhani, Patrick A. - 2001
This paper investigates whether and in what sense the west German wage structure has been ?rigid? in the 1990s. To test the hypothesis that a rigid wage structure has been responsible for rising low-skilled unemployment, I propose a methodology which makes less restrictive identifying...
Persistent link: https://www.econbiz.de/10010297774
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Estimating the immediate impact of monetary policy shocks on the exchange rate and other asset prices in Hungary
Rezessy, András - 2005
. The endogeneity problem is treated with the method of identification through heteroskedasticity as described by Rigobon …
Persistent link: https://www.econbiz.de/10010322405
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Estimating the effect of Hungarian monetary policy within a structural VAR framework
Vonnák, Balázs - 2005
Hungarian data. I compare two identification approaches. One of them involves the ‘sign restrictions on impulse responses … history. My argument is that in certain cases, especially in the case of the Hungarian economy, the latter identification … identification approaches produced very similar results, imposing restrictions on history may help to dampen counterintuitive …
Persistent link: https://www.econbiz.de/10010322447
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What are the Effects of Monetary Policy Shocks? Evidence from Dollarized Countries
Willems, Tim - 2010
Traditional ways of analyzing the effects of monetary policy shocks via structural vector autoregressions require the use of unrealistic identifying assumptions: they either do not allow for a response of output and prices on impact of the shock, or they exclude contemporaneous values of these...
Persistent link: https://www.econbiz.de/10010325927
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A method to generate structural impulse-responses for measuring the effects of shocks in structural macro models
Beyer, Andreas; Farmer, Roger E. A. - 2006
We develop a technique for analyzing the response dynamics of economic variables to structural shocks in linear rational expectations models. Our work differs fromstandard SVARs since we allow expectations of future variables to enter structural equations. We show how to estimate the...
Persistent link: https://www.econbiz.de/10011604632
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What does a technology shock do? A VAR analysis with model-based sign restrictions
Dedola, Luca; Neri, Stefano - 2006
, with both real and nominal frictions, and with sufficiently wide ranges for their parameterers. This identification …
Persistent link: https://www.econbiz.de/10011604751
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What are the effects of fiscal policy shocks? A VAR-based comparative analysis
Caldara, Dario; Kamps, Christophe - 2008
-form model, all identification approaches used in the literature yield qualitatively and quantitatively very similar results as … estimated or calibrated for alternative identification approaches. These differences also translate into uncertainty about the …
Persistent link: https://www.econbiz.de/10011604923
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The Rise and Fall of Swiss Unemployment: Relative Demand Shocks, Wage Rigidities, and Temporary Immigrants
Puhani, Patrick A. - 2003
Switzerland, traditionally a ?zero unemployment? economy, has seen an unprecedented rise in joblessness in the 1990s although unemployment fell again to a rather low level after 1997. This paper tests whether Switzerland experienced a negative relative net demand shock against the low skilled...
Persistent link: https://www.econbiz.de/10010262112
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Wage Rigidities in Western Germany?
Puhani, Patrick A. - 2001
This paper investigates whether and in what sense the west German wage structure has been ?rigid? in the 1990s. To test the hypothesis that a rigid wage structure has been responsible for rising low-skilled unemployment, I propose a methodology which makes less restrictive identifying...
Persistent link: https://www.econbiz.de/10010262540