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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

Unemployment, hysteresis and transition

León-Ledesma, Miguel; McAdam, Peter - 2003

We quantify the degree of persistence in unemployment rates of transition countries using a variety of methods … presence of unit roots in unemployment. Since this is potentially a narrow definition, we also take into account the existence … of structural breaks and non-linear dynamics in unemployment. Finally, we examine whether CEECsu0092 unemployment …

Persistent link: https://www.econbiz.de/10009635980

Macroeconomic stabilisation properties of a euro area unemployment insurance scheme

Kaufmann, Christoph; Attinasi, Maria Grazia; … - 2020

supranational unemployment insurance scheme. The model is calibrated to the euro area's core and periphery and features a rich …-regional correlation of unemployment and in ation increases by up to 52% and 27%, respectively, compared to the decentralised setting. The …

Persistent link: https://www.econbiz.de/10012241162

The effects of monetary policy on unemployment dynamics under model uncertainty : evidence from the US and the euro area ( by Carlo Altavilla and Matteo Ciccarelli

Altavilla, Carlo; Ciccarelli, Matteo - 2009

surrounding the effects of rule-based monetary policy on unemployment dynamics in the euro area and the US. We employ a Bayesian … policy ; model uncertainty ; Bayesian model averaging ; unemployment gap ; Taylor rule …

Persistent link: https://www.econbiz.de/10003963762

What are the main obstacles to hiringafter recessions in Europe?

Savšek, Simon - 2018

This paper assesses the relative importance of perceived obstacles to hiring workers on a permanent basis faced by EU firms and studies how they depend on firm's characteristics. Findings suggest that the main obstacles to hiring in Europe are high uncertainty, shortage of skilled labour, high...

Persistent link: https://www.econbiz.de/10011856489

Euro area labour markets : different reaction to shocks?

Brůha, Jan; Pierluigi, Beatrice; Serafini, Roberta - 2011

A small labour market model for the six largest euro area countries (Germany, France, Italy, Spain, the Netherlands, Belgium) is estimated in a state -space framework. The model entails, in the long run, four driving forces: a trend labour force component, a trend labour productivity component,...

Persistent link: https://www.econbiz.de/10008901500

Effects of labour and product market regulation on worker flows : evidence for the euro area using micro data

Anderton, Bob; Di Lupidio, Benedetta - 2019

the probabilities of worker flows across employment and unemployment in euro area countries during the period 2000-2015 in …

Persistent link: https://www.econbiz.de/10012059053

Do public wages in the euro area explain private wage developments? : an empirical investigation

Attinasi, Maria Grazia; Berardini, Francesco; Palazzo, … - 2019

This paper investigates the relationship between public and private wages in the five largest euro area countries for the period 1997-2017. The analysis shows that there exists a positive and significant response of private wages to a public wage shock. This effect is found to be temporary and...

Persistent link: https://www.econbiz.de/10011975478

The link between labor cost and price inflation in the euro area

Bobeica, Elena; Ciccarelli, Matteo; Vansteenkiste, Isabel - 2019

This paper documents, for the first time in a systematic manner, the link between labor cost and price inflation in the euro area. Using country and sector quarterly data over the period 1985Q1-2018Q1 we find a strong link between labor cost and price inflation in the four major economies of the...

Persistent link: https://www.econbiz.de/10011975511

Endogenous TFP, business cycle persistence and the productivity slowdown in the euro area

Schmöller, Michaela; Spitzer, Martin - 2020

This paper analyses the endogeneity of euro area total factor productivity and its role in business cycle amplification by estimating a medium-scale DSGE model with endogenous productivity mechanism on euro area data. In this framework, total factor productivity evolves endogenously as a...

Persistent link: https://www.econbiz.de/10012212852