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Asymmetric labor market institutions in the EMU and the volatility of inflation and unemployment differentials
Abbritti, Mirko; Müller, Andreas - 2012
and real wage rigidities. In our analysis, we focus on the differentials in inflation and unemployment between countries … inflation and unemployment differentials. Second, we find that asymmetries in labor market structures tend to increase the … volatility of both inflation and unemployment differentials. Finally, we show that it is important to take into account the …
Persistent link: https://www.econbiz.de/10009536516
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Asymmetric Labor Market Institutions in the Emu and the Volatility of Inflation and Unemployment Differentials
Abbritti, Mirko - 2012
and real wage rigidities. In our analysis, we focus on the differentials in inflation and unemployment between countries … inflation and unemployment differentials. Second, we find that asymmetries in labor market structures tend to increase the … volatility of both inflation and unemployment differentials. Finally, we show that it is important to take into account the …
Persistent link: https://www.econbiz.de/10013107467
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A single monetary policy for heterogeneous labour markets : the case of the euro area
Gomes, Sandra; Jacquinot, Pascal; Lozej, Matija - 2023
inflation targeting. For each rule we distinguish between cases with zero weight on the unemployment gap and a negative response … inflation. Responding to unemployment reduces cross-country differences within the monetary union and the differences in …
Persistent link: https://www.econbiz.de/10013492935
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Financial heterogeneity and monetary union
Gilchrist, Simon; Schoenle, Raphael; Sim, Jae W.; … - 2018
We analyze the economic consequences of forming a monetary union among countries with varying degrees of financial distortions, which interact with the firms' pricing decisions because of customer-market considerations. In response to a financial shock, firms in financially weak countries (the...
Persistent link: https://www.econbiz.de/10011932300
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Labor Market Reforms and Current Account Imbalances : Beggar-Thy-Neighbor Policies in a Currency Union?
Baas, Timo - 2014
Member countries of the European Monetary Union (EMU) initiated wide-ranging labor market reforms in the last decade. This process is ongoing as countries that are faced with serious labor market imbalances perceive reforms as the fastest way to restore competitiveness within a currency union....
Persistent link: https://www.econbiz.de/10013046659
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Labor Market Reforms and Current Account Imbalances - Beggar-Thy-Neighbor Policies in a Currency Union?
Baas, Timo - 2015
Member countries of the European Monetary Union (EMU) initiated wideranging labor market reforms in the last decade. This process is ongoing as countries that are faced with serious labor market imbalances perceive reforms as the fastest way to restore competitiveness within a currency union....
Persistent link: https://www.econbiz.de/10013028659
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Heterogeneity, rigidity and convergence of labor markets in the Euro area
Maillard, Jocelyn - In: Annals of economics and statistics 140 (2020), pp. 127-167
Persistent link: https://www.econbiz.de/10012602613
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Labour mobility and labour market adjustment in the EU
Arpaia, Alfonso; Kiss, Áron; Palvolgyi, Balazs; … - In: IZA journal of migration : IZAJOM 5 (2016) 21, pp. 1-21
This paper assesses the role of labour mobility in the adjustment to asymmetric economic shocks in the EU. After presenting a series of stylised facts of mobility in the EU, it assesses mobility as a channel of economic adjustment by means of a vector autoregression (VAR) analysis in the vein of...
Persistent link: https://www.econbiz.de/10011574802
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Labour tax reforms, cross-country coordination and the monetary policy stance in the euro area : a structural model-based approach
Jacquinot, Pascal; Lozej, Matija; Pisani, Massimiliano - 2018
We evaluate the effects of permanently reducing labour tax rates in the euro area (EA) by simulating a large-scale open economy dynamic general equilibrium model. The model features the EA as a monetary union, split in two regions (Home and the rest of the EA - REA), the US, and the rest of the...
Persistent link: https://www.econbiz.de/10011792134