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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

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

Global Business Cycles: Convergence or Decoupling?

Kose, M. Ayhan; Otrok, Christopher; Prasad, Eswar - Institute for the Study of Labor (IZA) - 2008

This paper analyzes the evolution of the degree of global cyclical interdependence over the period 1960-2005. We categorize the 106 countries in our sample into three groups – industrial countries, emerging markets, and other developing economies. Using a dynamic factor model, we then...

Persistent link: https://www.econbiz.de/10005566406

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

L'Horty, Yannick; Rault, Christophe - Institute for the Study of Labor (IZA) - 2003

Persistent link: https://www.econbiz.de/10005233863

Minority Inflation, Unemployment, and Monetary Policy

Lee, Munseob; Macaluso, Claudia; Schwartzman, Felipe - 2024

volatility of real income differs significantly for households of different races and income levels, reflecting differential … fluctuations, whereas price volatility is only particularly pronounced for Black households with income above the national median …. The latter face 40 percent higher price volatility than both poorer households of the same race and white households of …

Persistent link: https://www.econbiz.de/10015210940

SAFE to Update Inflation Expectations? New Survey Evidence on Euro Area Firms

Baumann, Ursel; Ferrando, Annalisa; Georgarakos, Dimitris; … - 2024

This paper provides new survey evidence on firms' inflation expectations in the euro area. Building on the ECB's Survey on the Access to Finance of Enterprises (SAFE), we introduce consistent measurement of inflation expectations across countries and shed new light on the properties and causal...

Persistent link: https://www.econbiz.de/10014567474

Sind Nominallöhne starr? Neuere Evidenz und wirtschaftspolitische Implikationen

Beissinger, Thomas; Knoppik, Christoph - 2003

Bei Vorliegen nach unten starrer Nominallöhne erschwert niedrige Inflation Reallohnanpassungen und führt so möglicherweise zu erhöhter gleichgewichtiger Arbeitslosigkeit. Dieser Aufsatz analysiert die wachsende Evidenz zu nach unten starren Nominallöhnen. Es werden nicht nur die...

Persistent link: https://www.econbiz.de/10010261537

The role of real wage rigidity and labor market frictions for unemployment and inflation dynamics

Christoffel, Kai; Linzert, Tobias - 2005

In this paper we incorporate a labor market with matching frictions and wage rigidities into the New Keynesian business cycle model. In particular, we analyze the effect of a monetary policy shock and investigate how labor market frictions affect the transmission process of monetary policy. The...

Persistent link: https://www.econbiz.de/10010267287

Optimal price indices for targeting inflation under incomplete markets

Anand, Rahul; Prasad, Eswar S. - 2010

In models with complete markets, targeting core inflation enables monetary policy to maximize welfare by replicating the flexible price equilibrium. In this paper, we develop a twosector two-good closed economy new Keynesian model to study the optimal choice of price index in markets with...

Persistent link: https://www.econbiz.de/10010272685

Sequential bargaining in a new-Keynesian model with frictional unemployment and staggered wage negotiation

de Walque, Gregory; Pierrard, Olivier; Sneessens, Henri R. - 2009

period. The workers' bargaining power in the hours negotiation affects both unemployment volatility and inflation persistence …. The closer to zero this parameter, (i) the more firms adjust on the intensive margin, reducing employment volatility, (ii … the new entrants wage rigidity required to match observed unemployment volatility. …

Persistent link: https://www.econbiz.de/10010277123