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The standard measure of core or underlying inflation is the inflation rate excluding food and energy prices. This paper constructs an alternative measure, the weighted median inflation rate, for 38 advanced and emerging economies using subclass level disaggretion of the CPI over 1990-2021, and...
Persistent link: https://www.econbiz.de/10015059656
The emergence of financial technologies—fintech—has become an engine of change, promising to expand access to financial services and give a boost to financial inclusion. The ownership of accounts in formal financial institutions increased from 51 percent of the world’s adult population in...
Persistent link: https://www.econbiz.de/10015080291
country. Household survey data indicates that recent decades of high output growth also witnessed a substantial narrowing of …
Persistent link: https://www.econbiz.de/10015060121
We use a shift-share approach to estimate the impact of inward immigration on local inflation in the United States. We … find that a higher rate of immigration reduces inflation, lowering it by about 0.1 to 0.2 percentage points following a … doubling of immigration. Higher immigration flows also lower local goods inflation, increase local housing and utilities …
Persistent link: https://www.econbiz.de/10015328144
While anecdotal evidence suggests that interest groups play a key role in shaping immigration policy, there is no … combining information on the number of temporary work visas with data on lobbying activity associated with immigration. We find … robust evidence that both pro- and anti-immigration interest groups play a statistically significant and economically …
Persistent link: https://www.econbiz.de/10012677368
This paper examines the macroeconomic impact of migration on income convergence in the EU's New Member States (NMS). The paper focuses on cross-border mobility of labor and examines the implications for policymakers with the help of a general equilibrium model. It finds that cross-border labor...
Persistent link: https://www.econbiz.de/10012677689
We propose a novel approach to measure the dynamic macroeconomic effects of immigration on the destination country …, combining the analysis of episodes of large immigration waves with instrumental variables techniques. We distinguish the impact … of immigration shocks in OECD countries from that of refugee immigration in emerging and developing economies. In OECD …
Persistent link: https://www.econbiz.de/10015058830
natives. This highlights the important role immigration can play in attenuating the effects of the Europe's challenging …Against the backdrop of the war in Ukraine, immigration into the European Union (EU) reached a historical high in 2022 …
Persistent link: https://www.econbiz.de/10015328397
Under what conditions are budget institutions likely to be strengthened? We find that fiscal deficits do not help in focusing policymakers on undertaking reforms. To the contrary, the larger the deficit, the lower is the likelihood of reforms. Large deficits apparently imply strong claims on the...
Persistent link: https://www.econbiz.de/10014409017
House prices in Europe have shown diverging trends, and this paper seeks to explain these differences by analyzing …
Persistent link: https://www.econbiz.de/10014409059