Boschen and Weise (Journal of Money, Credit and Banking, (2003)) model the probability of a large upturn in inflation. We extend their work to show that openness to trade exerts a negative effect on the probability of such an event.

This paper examines the impact of union membership rates on inflation in OECD countries. A positive effect of union density is estimated, even after controlling for fixed effects and time dummies. Additional institutional characteristics, for example union coordination, employment protection...

Boschen and Weise (Journal of Money, Credit, and Banking, 2003) model the probability of a large upturn in inflation in the OECD (an inflation start). We extend their work to consider the impact of trade openness on the probability of such an event. The main finding is that increased openness...

An empirical analysis of the impact of labour market structures on the response of inflation to macroeconomic shocks is presented. Results based on a 20 country panel show that if labour market coordination is high, the effect on inflation of movements in unemployment, import prices, tax rates...

The impact of labour market structures on the response of inflation to macroeconomic shocks is analysed empirically. Results based on a 20-country panel show that if labour market coordination is high, the effect on inflation of movements in unemployment, import prices, tax rates and...

An empirical analysis of the impact of labour market structures on the response of inflation to macroeconomic shocks is presented. Results based on a 20 country panel show that if labour market coordination is high, the effect on inflation of movements in unemployment, import prices, tax rates...

Using OECD panel data for 1961-2000 we provide evidence that the output cost associated with disinflation (the sacrifice ratio) decreases with coordination between wage-setters in the labor market. The relationship holds for alternative measures of labor market coordination and after controlling...

Boschen and Weise (Journal of Money, Credit and Banking, 2003) model the probability of a large upturn in inflation. We extend their work to show that openness to trade exerts a negative e¤ect on the probability of such an event.