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Opting out of the great inflation:German monetary policy afterthe breakdown of Bretton Woods

Beyer, Andreas; Gaspar, Vitor; Gerberding, Christina; … - Volkswirtschaftliches Forschungszentrum <Frankfurt, Main> - 2009

During the turbulent 1970s and 1980s the Bundesbank established an outstandingreputation in the world of central banking. Germany achieved a high degree of domesticstability and provided safe haven for investors in times of turmoil in the internationalfinancial system. Eventually the Bundesbank...

Persistent link: https://www.econbiz.de/10005866225

Understanding low wage growth in the euro area and European countries

Nickel, Christiane (contributor); Bobeica, Elena (contributor) - 2019

Despite notable improvements in the labour market since 2013, wage growth in the euro area was subdued and substantially overpredicted in 2013-17. This paper summarises the findings of an ESCB expert group on the reasons for low wage growth and provides comparable analyses on wage developments...

Persistent link: https://www.econbiz.de/10012141429

Fulfillment of the Inflation Target in Poland

Jedruchniewicz, Andrzej - In: Oeconomia Copernicana 3 (2013), pp. 5-21

wages – the increase of nominal wages was influencing the increase of prices mostly in the same quarter. After taking into …

Persistent link: https://www.econbiz.de/10011123004

Fulfillment of the Inflation Target in Poland

Jedruchniewicz, Andrzej - In: Oeconomia Copernicana 3 (2013), pp. 5-21

wages – the increase of nominal wages was influencing the increase of prices mostly in the same quarter. After taking into …

Persistent link: https://www.econbiz.de/10010741564

Price/Wage Staggering and Persistence.

Ascari, G.; Garcia, J.A. - Department of Economics, European University Institute - 1999

Recent literature reaches contrasting conclusions on the ability of price/wage staggering models to generate output persistence. The authors derive fairly general results from a stylised log-linear model which encompasses most of the microfound model of price/wage staggering.

Persistent link: https://www.econbiz.de/10005744265

Real-Time Macroeconomic Monitoring: Real Activity, Inflation, and Interactions

Aruoba, S. Boragan; Diebold, Francis X. - Department of Economics, University of Pennsylvania - 2010

We sketch a framework for monitoring macroeconomic activity in real-time and push it in new directions. In particular, we focus not only on real activity, which has received most attention to date, but also on inflation and its interaction with real activity. As for the recent recession, we find...

Persistent link: https://www.econbiz.de/10008493139

FULFILLMENT OF THE INFLATION TARGET IN POLAND

Jedruchniewicz, Andrzej - In: Oeconomia Copernicana 4 (2013) 3, pp. 5-21

wages – the increase of nominal wages was influencing the increase of prices mostly in the same quarter. After taking into …

Persistent link: https://www.econbiz.de/10011273744

Wage, Inflation and Employment Dynamics with Labour Market Matching

Christoffel, Kai; Costain, James S.; de Walque, Gregory; … - 2009

vs. sticky wages, interactions at the firm level between price and wage-setting, alternative forms of hiring frictions … little real rigidity and, so, too volatile inflation, owing to strong responses of marginal wages and hours per employee … the responses of wages, inflation and employment …

Persistent link: https://www.econbiz.de/10014204635

A Theory of Labor Markets with Allocative Wages

Blanco, Julio; Drenik, Andres; Moser, Christian; … - 2022

We develop a model of a frictional labor market with idiosyncratic and aggregate shocks, sticky wages, and two …-sided lack of commitment between workers and firms. In this environment, wages are allocative in the sense that inefficient job … inefficient job separations as well as the aggregate response of employment and real wages to monetary shocks …

Persistent link: https://www.econbiz.de/10014082974

Uniform and Nonuniform Staggering of Wage Contracts

Danziger, Leif - 2010

This paper provides a model that can account for the almost uniform staggering of wage contracts in some countries as well as for the markedly nonuniform staggering in others. In the model, short and long contracts as well as long contracts concluded in different periods are strategic...

Persistent link: https://www.econbiz.de/10013141426