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Identification of New Keynesian Phillips Curves from a global perspective

Dees, Stephane; Pesaran, Mohammad Hashem; Smith, L. Vanessa - 2008

New Keynesian Phillips Curves (NKPC) have been extensively used in the analysis of monetary policy, but yet there are a number of issues of concern about how they are estimated and then related to the underlying macroeconomic theory. The first is whether such equations are identified. To check...

Persistent link: https://www.econbiz.de/10010276262

Cross-Country Connectedness in Inflation and Unemployment: Measurement and Macroeconomic Consequences

Pham, Binh Thai; Sala, Hector - 2021

We bring the notion of connectedness (Diebold and Yilmaz, 2012) to a set of two critical macroeconomic variables as …. We find that total connectedness is larger for prices (58.28%) than for unemployment (41.81%). We also identify …. Besides, by exploring time-varying connectedness (resulting from country-specific shocks), we find that volatility spillovers …

Persistent link: https://www.econbiz.de/10012597358

Inflation, Minimum Wage and Other Wages: An Econometric Study on French Macroeconomic Data

L'Horty, Yannick; Rault, Christophe - 2003

This paper examines the set of interdependences between the formation of wages, prices and the minimum wage (SMIC) through a vectorial error correction model estimated on French quarterly macroeconomic data covering the 1970-1/1999-4 period. Two periods are distinguished: the period of inflation...

Persistent link: https://www.econbiz.de/10010261586

Real wages and the business cycles in Germany

Marczak, Martyna; Beissinger, Thomas - 2010

This paper establishes stylized facts about the cyclicality of real consumer wages and real producer wages in Germany. As detrending methods we apply the deterministic trend model, the Beveridge-Nelson decomposition, the Hodrick-Prescott filter, the Baxter-King filter and the structural time...

Persistent link: https://www.econbiz.de/10010274586

The Japanese lost decade and beyond: A chain reaction theory approach

Agnese, Pablo - 2011

The Japanese lost decade has become an intriguing puzzle for both economists and policy-makers alike, as the unemployment rate climbed to unprecedented levels and the growth rate of productivity decreased considerably. More recent times seem to present with a more optimistic outlook, but this is...

Persistent link: https://www.econbiz.de/10010274696

The cycle of violence? An empirical analysis of fatalities in the Palestinian-Israeli conflict

Jaeger, David A.; Paserman, Marco Daniele - 2005

This paper studies the dynamics of violence in the Palestinian-Israeli conflict since the outbreak of the Second (or Al-Aqsa) Intifada in September 2000, during which more than 3,300 Palestinians and more than 1,000 Israelis have been killed. The conflict has followed an uneven pattern, with...

Persistent link: https://www.econbiz.de/10010276241

Exponent of cross-sectional dependence: Estimation and inference

Bailey, Natalia; Kapetanios, George; Pesaran, Hashem - 2012

An important issue in the analysis of cross-sectional dependence which has received renewed interest in the past few years is the need for a better understanding of the extent and nature of such cross dependencies. In this paper we focus on measures of cross-sectional dependence and how such...

Persistent link: https://www.econbiz.de/10010282124

Identifying the substitution effect of temporary agency employment

Jahn, Elke J.; Weber, Enzo - 2012

This paper fills a gap in the literature by investigating whether temporary agency employment substitutes regular employment. To take into account the interaction between the two employment forms, we identify a SVAR model with correlated innovations by volatility regimes. We show that a positive...

Persistent link: https://www.econbiz.de/10010282364

An empirical growth model for major oil exporters

Esfahani, Hadi Salehi; Mohaddes, Kamiar; Pesaran, M. Hashem - 2012

This paper develops a long-run growth model for a major oil exporting economy and derives conditions under which oil revenues are likely to have a lasting impact. This approach contrasts with the standard literature on the Dutch disease and the resource curse, which primarily focuses on...

Persistent link: https://www.econbiz.de/10010282525

Identifying regional labor demand shocks using sign restrictions

Juessen, Falko; Linnemann, Ludger - 2012

We propose using sign restrictions to identify regional labor demand shocks in a panel VAR of US federal states. Observed migration responds significantly, but less persistently than the residual-based migration measure constructed by Blanchard and Katz (1992).

Persistent link: https://www.econbiz.de/10010287601