This paper uses a variety of empirical methods to examine the apparent differences in monetary policy stances as between the United States and other G7 economies, notably those in the euro area, during the period of sharp increases in oil and other commodity prices in the first half of 2008. In...

This paper analyses the determinants of structural unemployment rates in a two-stage approach. First, time-varying NAIRUs are estimated for a panel of OECD economies on the basis of Phillips curve equations using Kalman filter techniques. In a second stage, the estimated NAIRUs are regressed on...

This paper examines problems of entry, exit and competition in Ukrainian product markets. It finds that Ukraine still has too little of all three, and that exit mechanisms, in particular, function poorly. Since impediments to entry and exit are largely the product of excessive and ill...

This paper attempts to assess the impact of exchange rate movements on Russian import and nonfuel export performance, using an error correction model. The estimation of trade equations shows that long-run price elasticities for imports and non-fuel exports are close to 0.6 and 0.7 respectively,...

This paper examines the potential role of innovation policy in enhancing long-term productivity growth in Russia. It begins by exploring the role of framework conditions for business in encouraging innovative activities, particularly with respect to intellectual property rights and competition....

The Russian economy continues to grow strongly, buoyed by rising terms of trade, which, in turn, are supporting a boom in domestic consumption. This paper addresses the challenge that the adjustment to sustained high oil prices poses for macroeconomic management. It first examines the impact of...

This article attempts to assess the impact of exchange rate movements on Russian import and non-fuel export performance, using an error correction model. The estimation of trade equations shows that long-run price elasticities for imports and non-fuel exports are close to 0.6 and 0.7...

[fre] L ’ objet de cet article est de proposer un prolongement du modèle d ’ appariement ou de « matching » à un facteur travail hétérogène . Cet article présente une maquette du marché du travail désagrégée en plusieurs qualifications , en précisant pour chacune d ’ entre...

[eng] Assessments of the “ Aubry Laws ” – which established the 35-hour workweek in France – generally rely on business data. These make it possible to identify only the short-term effects, when work-sharing can reduce cyclical unemployment. Our article studies the medium-term effects of...

[fre] L’objet de cet article est d’examiner comment la formation des salaires est influencée par la situation du marché du travail local, en estimant une courbe de salaire (“ Wage Curve”). Une relation négative et convexe entre le salaire réel d’un individu et le taux de chômage...