Showing 1 - 10 of 5,002
The dynamic general equilibrium model with hiring costs presented in this paper delivers involuntary unemployment in the steady state and involuntary fluctuations in unemploy- ment. After calibrating the model, through simulations we are able to show that our model with labour market...
Persistent link: https://www.econbiz.de/10015221465
The Bank of International Settlement in its latest report demonstrates how the inflation levels, especially of food and …
Persistent link: https://www.econbiz.de/10015268380
What explains the sudden vanishing of the procyclicality of productivity in the U.S. during the 1980s? Using cross-sectional evidence from states and industries, this paper argues that lower costs of hiring and firing workers due to rapid de-unionization can help explain the productivity puzzle....
Persistent link: https://www.econbiz.de/10015256845
This paper argues that rapid de-unionization during the 1980s can explain the sudden vanishing of the procyclicality of productivity in the U.S. I use cross-sectional evidence from U.S. states and industries to argue that the lower cost of hiring and firing workers due to the decline in union...
Persistent link: https://www.econbiz.de/10015262341
The Non-Accelerating Inflation Rate of Unemployment (NAIRU) is a major concept in (monetary) economics in predicting … changes in the inflation rate. As the inflation neutral unemployment rate is an unobserved and, in the long run, a changing … trimmed to satisfactorily explain inflation changes. It turns out that besides the NAIRU, several other variables like the …
Persistent link: https://www.econbiz.de/10015223957
For decades, the academic literature has focused on three survey measures of expected inflation: the Livingston Survey … models of forecasting inflation, the data are low frequency measures which appear anachronistic in the modern era of high … frequency and real-time data. I present a collection of 37 different measures of inflation expectations, including many …
Persistent link: https://www.econbiz.de/10015230546
For decades, the academic literature has focused on three survey measures of expected inflation: the Livingston Survey … models of forecasting inflation, the data are low frequency measures which appear anachronistic in the modern era of high … frequency and real-time data. I present a collection of 37 different measures of inflation expectations, including many …
Persistent link: https://www.econbiz.de/10015233062
Optimal labor tax results over the cycle are, quantitatively, typically driven by an estimate of the intratemporal elasticity of substitution that governs the reaction of hours worked to business cycle shocks and tax rate changes. A recent literature tries to decompose this intratemporal...
Persistent link: https://www.econbiz.de/10015260696
) to describe wage inflation in the U.S. over the 1965-2018 period. Non-linearity is clearly supported by the data and it …
Persistent link: https://www.econbiz.de/10015264338
unemployment and inflation. …
Persistent link: https://www.econbiz.de/10015270947