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It has been well established that the wages of individual workers react little, especially downwards, to shocks that hit their employer. This paper presents new evidence from a unique survey of firms across Europe on the prevalence of downward wage rigidity in both real and nominal terms. We...
Persistent link: https://www.econbiz.de/10011605151
It has been well established that the wages of individual workers react little, especially downwards, to shocks that hit their employer. This paper presents new evidence from a unique survey of firms across Europe on the prevalence of downward wage rigidity in both real and nominal terms. We...
Persistent link: https://www.econbiz.de/10013155111
Wealth survey data suffers simultaneously from under-representation at the top and underreporting of assets. Addressing both problems, I use the Household Finance and Consumption Survey to provide new estimates of the holdings of real assets, financial assets and liabilities and net wealth of...
Persistent link: https://www.econbiz.de/10012988623
IFC as the debt bias would fall. However, when other considerations eclipse competence and give the incumbent a strong … electoral advantage or disadvantage, setting up an IFC may be counterproductive as the debt bias would increase. If the … bias if voters care sufficiently about policymakers' competence; (ii) not all political environments are conducive to the …
Persistent link: https://www.econbiz.de/10012949941
compared with the Fisher Ideal index to quantify elementary index bias. Across product categories, mean levels of annual … elementary index bias vary between -0.53 percentage points and 0.55 percentage points depending on the index, while the standard … average effect of elementary index bias on national inflation ranges from -0.45 to 0.45 percentage points depending on the …
Persistent link: https://www.econbiz.de/10013040610
The elasticity of substitution between domestic and imported goods is a central parameter in macroeconomic models, but after decades of empirical studies there is no consensus on its magnitude. Earlier literature using time series arrives at low values, while more recent studies using...
Persistent link: https://www.econbiz.de/10013100338
This article aims at linking the household wealth and income distributions for 15 European countries using the … Household Finance and Consumption Survey. We study the role played by the household's location in the income distributions in … the position in the income distribution and by intergenerational transfers on the probability to be in a given wealth …
Persistent link: https://www.econbiz.de/10013053420
Many factors inhibiting and facilitating economic growth have been suggested. Will international income data tell which … averaging and classical model selection procedures are sensitive to income differences across datasets. For example, many of the … 1975-1996 growth determinants according to World Bank income data turn out to be irrelevant when using Penn World Table …
Persistent link: https://www.econbiz.de/10013316816
This paper exploits daily infrared images taken from satellites to track economic activity in advanced and emerging countries. We first develop a framework to read, clean, and exploit satellite images. Our algorithm uses the laws of physics (Planck's law) and machine learning to detect the heat...
Persistent link: https://www.econbiz.de/10014543624
This paper provides evidence on the role of non-base wage components as a channel for firms to adjust labour costs in the event of adverse shocks. It uses data from a firm-level survey for 25 European countries that covers the period 2010-2013. We find that firms subject to nominal wage...
Persistent link: https://www.econbiz.de/10011916862