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The dynamic effects of shocks to wages and prices in the United States and the euro area
Duarte, Rita Netto de Miranda; Marques, Carlos Robalo - 2009
This paper investigates the dynamics of aggregate wages and prices in the United States (US) and the Euro Area (EA) with a special focus on persistence of real wages, wage and price inflation. The analysis is conducted within a structural vector errorcorrection model, where the structural shocks...
Persistent link: https://www.econbiz.de/10003867061
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Are the Facts of UK Inflation Persistence to Be Explained by Nominal Rigidity or Changes in Monetary Regime?
Meenagh, David - 2007
It has been widely argued that inflation persistence since WWII has been widespread and durable and that it can only be accounted for by models with a high degree of nominal rigidity. We examine UK post-war data and find that the varying persistence it reveals is largely due to changing monetary...
Persistent link: https://www.econbiz.de/10012728722
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The Aggregate Implications of Regional Business Cycles
Beraja, Martin - 2019
Making inferences about aggregate business cycles from regional variation alone is difficult because of economic channels and shocks that differ between regional and aggregate economies. However, we argue that regional business cycles contain valuable information that can help discipline models...
Persistent link: https://www.econbiz.de/10012894843
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The Aggregate Implications of Regional Business Cycles
Beraja, Martin - 2016
We argue that it is difficult to make inferences about the drivers of aggregate business cycles using regional variation alone because (i) the local and aggregate elasticities to the same type of shock are quantitatively different and (ii) purely aggregate shocks are differenced out when using...
Persistent link: https://www.econbiz.de/10012998752
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Medium-term business cycles
Comin, Diego; Gertler, Mark - In: The American economic review 96 (2006) 3, pp. 523-551
Persistent link: https://www.econbiz.de/10003349263
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Medium term business cycles
Comin, Diego; Gertler, Mark - 2003
Persistent link: https://www.econbiz.de/10001798777
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Medium term business cycles
Comin, Diego; Gertler, Mark - 2003
Persistent link: https://www.econbiz.de/10001802064
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Nominal and real wages in the UK, 1750 - 2015 : mean reversion, persistence and structural breaks
Caporale, Guglielmo Maria; Gil-Alaña, Luis A. - 2022
This paper analyses the stochastic properties of UK nominal and real wages over the period 1750-2015 using fractional integration techniques. Both the original series and logged ones are analysed. The results generally suggest that nominal wages exhibit a higher degree of persistence, which...
Persistent link: https://www.econbiz.de/10013417630
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The Diffusion and Dynamics of Producer Prices, Deflationary Pressure across Asian Countries, and the Role of China
Chen, Hongyi - 2018
Persistent producer price deflation in China and other Asian economies has become a genuine concern for policymakers … that the recent synchronous and protracted producer price deflation has been driven by weak production and export growth …'s producer price deflation challenge, we consider the structural adjustments needed in China to cope with the decline and head …
Persistent link: https://www.econbiz.de/10012935638