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Does it matter when labor market reforms are implemented? : the role of the monetary policy environment

Lastauskas, Povilas; Stakénas, Julius - 2019

Do labor market reforms initiated in periods of loose monetary policy yield different outcomes from those that were introduced in periods when monetary tightening prevailed? Since economic theory usually pays attention to the steady state change and ignores business cycle interactions of...

Persistent link: https://www.econbiz.de/10012103994

The Performativity of Potential Output : Pro-Cyclicality and Path Dependency in Coordinating European Fiscal Policies

Heimberger, Philipp - 2016

This paper analyzes the performative impact of the European Commission's model for estimating ‘potential output', which is used as a yardstick for measuring the ‘structural budget balance' of EU countries and, hence, is crucial for coordinating European fiscal policies. In pre-crisis years,...

Persistent link: https://www.econbiz.de/10012978348

Institutions and macroeconomic performance : central bank independence, labour market institutions and the perspectives for inflation and employment in the European Monetary Union

Hein, Eckhard - 2001

Persistent link: https://www.econbiz.de/10001593527

The Impact of Tax, Product and Labour Market Distortions on the Phillips Curve and the Natural Rate of Unemployment

Bokan, Nikola - 2010

Most people accept that structural and labour market reforms are needed in Europe. However few have been undertaken. The usual conjecture is that reforms are costly in economic performance and costly to finance. Blanchard and Giavazzi (2003) and Spector (2004) develop a general equilibrium model...

Persistent link: https://www.econbiz.de/10013135626

Institutions and macroeconomic performance : central bank independence, labour market institutions and the perspectives for inflation and employment in the European Monetary Union

Hein, Eckhard - 2001

Starting from a Post-Keynesian model in which employment is determined by effective demand and the NAIRU is viewed as a … to prevent the rate of unemployment from falling below the NAIRU. But price stability also depends on labour market … institutions. Horizontally and vertically co-ordinated wage bargaining allows for a considerable reduction of the NAIRU and hence …

Persistent link: https://www.econbiz.de/10010486809

The Impact of Tax and Market Distortions on the Phillips Curve and the Natural Rate of Unemployment

Ormerod, Paul - 2011

Persistent link: https://www.econbiz.de/10013132140

Competitiveness and Wage Bargaining Reform in Italy

Kangur, Alvar - 2018

The growth of Italian exports has lagged that of euro area peers. Against the backdrop ofunit labor costs that have risen faster than those in euro area peers, this paper examines whether there is a competitiveness challenge in Italy and evaluates the framework of wage bargaining. Wages are set...

Persistent link: https://www.econbiz.de/10012922624

The Estimation of Reaction Functions Under Tax Competition

Miniaci, Raffaele - 2018

Tax competition has long been studied using panel models. According to this approach, each country's tax rate is assumed to depend on a weighted average of the tax rates applied in the rest of the world, where weights are exogenous. As a consequence, the estimated reaction functions of countries...

Persistent link: https://www.econbiz.de/10012920345

The Determinants of Inflation

Kinlaw, William B.; Kritzman, Mark; Metcalfe, Michael; … - 2022

The authors apply a Hidden Markov Model to identify regimes of shifting inflation and then employ an attribution technique based on the Mahalanobis distance to identify the economic variables that determine the trajectory of inflation. Their analysis enables policymakers to focus on the most...

Persistent link: https://www.econbiz.de/10014030604

Fiscal Multipliers and the State of the Economy

Baum, Anja - 2013

Only a few empirical studies have analyzed the relationship between fiscal multipliers and the underlying state of the economy. This paper investigates this link on a country-by-country basis for the G7 economies (excluding Italy). Our results show that fiscal multipliers differ across...

Persistent link: https://www.econbiz.de/10013088409