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Demand Shocks and the Cyclical Behavior of the Real Wage : Some International Evidence

Kandil, Magda - 2010

The focus of this investigation is on the cyclical response of the real wage to demand shocks. This response differentiates the empirical validity of major New Keynesian explanations of business cycles. The empirical evidence, across industrial countries, highlights a moderate positive...

Persistent link: https://www.econbiz.de/10013142097

Business cycle persistence in developing countries : how successful is a DSGE model with a vertical production chain and sticky prices?

Male, Rachel - 2010

of this analysis is that the model overestimates output persistence in high inflation countries and underestimates output … persistence in low inflation countries. This has important implications not only for this model, but also for any economist … persistence ; Vertical production chain ; Staggered price contracts ; Economic development ; Inflation …

Persistent link: https://www.econbiz.de/10008665125

Labour tax reforms, cross-country coordination and the monetary policy stance in the euro area : a structural model-based approach

Jacquinot, Pascal; Lozej, Matija; Pisani, Massimiliano - 2018

We evaluate the effects of permanently reducing labour tax rates in the euro area (EA) by simulating a large-scale open economy dynamic general equilibrium model. The model features the EA as a monetary union, split in two regions (Home and the rest of the EA - REA), the US, and the rest of the...

Persistent link: https://www.econbiz.de/10011792134

External shocks, trade margins, and macroeconomic dynamics

D'Addona, Stefano; Cavallari, Lilia - In: Economies : open access journal 8 (2020) 1/6, pp. 1-26

This paper studies the role of the exchange rate regime for trade of new products. It first provides VAR evidence that a rise in external productivity shifts trade away from new products and more so in fixed regimes. Then, it presents a model with firm dynamics in line with this evidence. We...

Persistent link: https://www.econbiz.de/10012168776

Global stagflation

Ha, Jongrim; Kose, M. Ayhan; Ohnsorge, Franziska - 2022

Global inflation has risen sharply from its lows in mid-2020, on rebounding global demand, supply bottlenecks, and … soaring food and energy prices, especially since the Russian Federation's invasion of Ukraine. Markets expect inflation to … developments, the risk of stagflation-a combination of high inflation and sluggish growth-has risen. The recovery from the …

Persistent link: https://www.econbiz.de/10013256317

Oil Price Fluctuations and it Impact on Economic Growth : A DSGE Approach

Bondzie, Eric - 2016

Ghana is poised to be one of the fastest growing economies in Sub-Saharan Africa because of its emerging oil and gas industry. Ghana's discovery of oil in commercial quantities in 2007 and its commencement of production in 2010 are expected to have an impact on the economy. To investigate these,...

Persistent link: https://www.econbiz.de/10012999305

Sticky Wages in a World of Ideas

Huang, Kevin X. D.; Katayama, Munechika; Shintani, Mototsugu - 2022

The search for new ideas by profit-seeking firms and knowledge spillovers are well-known and fundamental sources of modern economic growth. This paper examines the implications of idea production and knowledge capital for monetary business cycles. We construct a sticky-wage model where workers...

Persistent link: https://www.econbiz.de/10013306270

On the Sources of Business Cycles : Implications for DSGE Models

Andrle, Michal - 2017

fluctuations are driven by one major factor. The positive co-movement of real output and inflation convincingly argues for a demand …

Persistent link: https://www.econbiz.de/10012956242

Business cycles : a role for imperfect competition in the banking system

Mandelman, Federico S. (contributor) - 2006

concentration, operational costs, inflation, and simultaneity or reverse causation. The countercyclical pattern is explained by the …

Persistent link: https://www.econbiz.de/10003730547

Cross-border banking and business cycles in asymmetric currency unions

Dräger, Lena; Proano, Christian - 2015

Against the background of the recent housing boom and bust in countries such as Spain and Ireland, we investigate in this paper the macroeconomic consequences of cross-border banking in monetary unions such as the euro area. For this purpose, we incorporate in an otherwise standard two-region...

Persistent link: https://www.econbiz.de/10010497607