The Consumer Expectations Survey (CES) is an important new tool for analysing euro area household economic behaviour and expectations. This new survey covers a range of important topical areas including consumption and income, inflation and gross domestic product (GDP) growth, the labour market,...

Using the ECB Consumer Expectations Survey, this paper investigates how consumers revise medium-term inflation expectations. We provide robust evidence of their adjustment to the current economic developments. In particular, consumers adjust medium-term inflation views in response to changes in...

This paper provides evidence on price rigidity at the product- and firm-level in Norway. A strong within-firm synchronization is found supporting the theory of economies of scope in menu costs. The industry synchronization effects are found to be small suggesting that firms either have some...

Firms with credit-default swaps (CDS) traded on their debt may face "empty creditors" as hedged creditors have less incentive to participate in firm restructuring. We test for the existence of empty creditors by employing an exogenous change to the bankruptcy code in Germany that effectively...

We address the fundamental yet long overdue question that U.S. immigration policies hinge on: “How big is the H-1B specialty workforce?” During the past decade, the H-1B specialty visa annually admitted between 125,000 and 155,000 skilled foreign workers for a stay of up to six years,...

This paper investigates in a non-linear setting the impact on the real economy of frictions stemming from the financial sector. We develop a medium scale DSGE model with a banking sector where an occasionally binding constraint on banks’ capital induces a relevant non-linearity. The model -...

Der Bericht ist wie folgt aufgebaut. In Kapitel 2 wird detailliert dargestellt, wie sich die offiziellen Statistiken der Bundesagentur für Arbeit sowie des Statistischen Bundesamtes hinsichtlich der Höhe der Lohnlücke unterscheiden und wie sich diese Unterschiede erklären lassen. In Kapitel...

This study examines the effect of life expectancy on fertility, education and labor force participation. Using birth and sibling histories from the Demographic Health Surveys conducted in sub-Saharan Africa, I construct time series of age-specific birth rates and mortality rates at the...

This paper evaluates the informativeness of eight micro pricing moments for monetary non-neutrality. Frequency of price changes is the only robustly informative moment. The ratio of kurtosis over frequency is significant only because of frequency, and insignificant when non-pricing moments are...

Using the ECB Consumer Expectations Survey, this paper investigates how consumers revise medium-term inflation expectations. We provide robust evidence of their adjustment to the current economic developments. In particular, consumers adjust medium-term inflation views in response to changes in...