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Privatization, entry regulation and the decline of labor's share of GDP: a cross-country analysis of the network industries

Azmat, Ghazala; Manning, Alan; Van Reenen, John - London School of Economics (LSE) - 2007

Labor’s share of GDP in most OECD countries has declined over the last two decades. Some authors have suggested that these changes are linked to deregulation of product and labor markets. To examine this we focus on a large quasi-experiment in the OECD: the privatization of many network...

Persistent link: https://www.econbiz.de/10010746486

The volatility of earnings: evidence from high-frequency firm-level data

Georgiadis, Andreas; Manning, Alan - London School of Economics (LSE) - 2014

The first contribution of this paper is to use UK monthly firm-level data to show that there is a large amount of transitory volatility in firm-level average earnings from month to month. We conclude that this cannot all be explained away as the consequence of measurement error, composition...

Persistent link: https://www.econbiz.de/10011126684

The timing of monetary policy shocks

Olivei, Giovanni; Tenreyro, Silvana - London School of Economics (LSE) - 2006

A vast empirical literature has documented delayed and persistent effects of monetary policy shocks on output. We show that this finding results from the aggregation of output impulse responses that differ sharply depending on the timing of the shock: when the monetary policy shock takes place...

Persistent link: https://www.econbiz.de/10010746450

Wage setting patterns and monetary policy: international evidence

Olivei, Giovanni; Tenreyro, Silvana - London School of Economics (LSE) - 2008

Systematic differences in the timing of wage setting decisions among industrialized countries provide an ideal framework to study the importance of wage rigidity in the transmission of monetary policy. The Japanese Shunto presents the most well-known case of bunching in wage setting decisions:...

Persistent link: https://www.econbiz.de/10010746577

Mortgages and monetary policy

Garriga, Carlos; Kydland, Finn E.; Šustek, Roman - London School of Economics (LSE) - 2013

- than fixed-rate contracts. The source of impulse also matters: persistent inflation shocks have larger effects than … cyclical fluctuations in inflation and nominal interest rates. …

Persistent link: https://www.econbiz.de/10011126379

Does monetary policy lose effectiveness during a credit crunch?

Bijapur, Mohan - London School of Economics (LSE) - 2010

This article investigates the effectiveness of monetary policy during a credit crunch by estimating a vector autoregression on the US economy. We present evidence that interest rate cuts have a diminished impact on growth, due to impairment in the relationship between monetary policy and the...

Persistent link: https://www.econbiz.de/10011126655

Wage equations, wage curves and all that

Bell, Brian; Nickell, Stephen; Quintini, Glenda - London School of Economics (LSE) - 2000

upon entry into the job? Finally is the wage-unemployment relationship influenced by inflation, competition or the housing …This paper is concerned with the relationship between wages and unemployment. Using UK regions and individuals as the … unemployment and wages or wage changes? Second, can we identify the relationship completely by looking at regional wages and …

Persistent link: https://www.econbiz.de/10010745323