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benchmarked against the EU. In part of the paper, we work with the concept of linear "Hysteresis" as described by the presence of …
Persistent link: https://www.econbiz.de/10011604280
This paper studies the role of wage moderation and labour and product market regulation for employment creation. To this end, labour demand estimates are presented for the five largest euro area countries at the aggregate level and for three macro sectors: manufacturing, construction and...
Persistent link: https://www.econbiz.de/10011604958
This paper studies the role of wage moderation and labour and product market regulation for employment creation. To this end, labour demand estimates are presented for the five largest euro area countries at the aggregate level and for three macro sectors: manufacturing, construction and...
Persistent link: https://www.econbiz.de/10013316513
is due to the long-run non-neutrality of money and the hysteresis effects in TFP through which ELB episodes generate …
Persistent link: https://www.econbiz.de/10014278361
for 29 countries from the OECD. We find strong evidence of hysteresis: an innovation in u causes u* to change in the same …
Persistent link: https://www.econbiz.de/10012819039
for 29 countries from the OECD. We find strong evidence of hysteresis: an innovation in u causes u* to change in the same …
Persistent link: https://www.econbiz.de/10013312060
for Spain, Portugal and Italy providing evidence of the importance of sunk costs and hysteresis in international trade. …
Persistent link: https://www.econbiz.de/10011605785
Following the approach recently developed for the International Wage Flexibility Project (IWFP), the paper presents new estimates of downward real and nominal wage rigidity for Hungary. Results suggest that nominal rigidity is more prominent in Hungary than real rigidity. When compared to other...
Persistent link: https://www.econbiz.de/10011605418
This paper examines the usefulness of the Okun relationship as a “rule of thumb” for predicting changes in unemployment, as a result of changes in output. It argues that a disaggregated version of the Okun relationship – making use of the differential reaction of unemployment to changes in...
Persistent link: https://www.econbiz.de/10011605792
Following the approach recently developed for the International Wage Flexibility Project (IWFP), the paper presents new estimates of downward real and nominal wage rigidity for Hungary. Results suggest that nominal rigidity is more prominent in Hungary than real rigidity. When compared to other...
Persistent link: https://www.econbiz.de/10013121445