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Labor market institutions and the response of inflation to macro shocks in the EU : a two-sector analysis

D'Adamo, Gaetano; Rovelli, Riccardo - 2013

We model empirically the role of labor market institutions in affecting the response of inflation to labor market and …-country differences in inflation adjustment for the "sheltered" (non-trading) sector; the effects in the "exposed" (trading) sector are …) flatten the Phillips curve in both sectors. More active LM policies also reduce the persistence of inflation. However, but …

Persistent link: https://www.econbiz.de/10010128820

Labour market institutions and inflation differentials in the EU

D'Adamo, Gaetano; Rovelli, Riccardo - 2015

associated with significant differences in the response of inflation to unemployment and exchange rate shocks. More wage … coordination and higher union density flatten the Phillips curve and increase the inflation response to the real exchange rate, i …

Persistent link: https://www.econbiz.de/10011347315

Labour Market Institutions and Inflation Differentials in the EU

D'Adamo, Gaetano - 2015

Persistent link: https://www.econbiz.de/10013014013

The role of real wage rigidity and labor market frictions for unemployment and inflation dynamics

Christoffel, Kai (contributor); Linzert, Tobias (contributor) - 2005

persistent movements of aggregate inflation. Moreover, the impact of a monetary policy shock on unemployment and inflation … cycle model. In particular, we analyze the effect of a monetary policy shock and investigate how labor market frictions … employment and hours affecting inflation dynamics via marginal costs. We find that the response of unemployment and inflation to …

Persistent link: https://www.econbiz.de/10003227218

Wage Flexibility and Labour Market Institutions : A Meta-Analysis

Clar López, Miquel - 2007

Evidence during the nineties about the response of real wages to shocks highlights that this response is substantially lower in European countries than in the United States and that there are important differences among European countries. Which are the reasons that explain these different...

Persistent link: https://www.econbiz.de/10012777602

Adjustment dynamics and the natural rate : an account of UK unemployment

Henry, S. G. B.; Karanassou, Marika; Snower, Dennis J. - 1999

This paper challenges what is the standard account of UK unemployment, namely that the major swings in unemployment over the past 25 years are due predominantly to movements in the underlying empirical "natural rate of unemploymentʺ (NRU). Our analysis suggests that the British NRU has remained...

Persistent link: https://www.econbiz.de/10001460694

The cyclical volatility of labor markets under frictional financial markets

Petrosky-Nadeau, Nicolas; Wasmer, Etienne - 2010

Financial frictions are known to raise the volatility of economies to shocks (e.g. Bernanke and Gertler 1989). We follow this line of research to the labor literature concerned by the volatility of labor market outcomes to productivity shocks initiated by Shimer (2005): in an economy with search...

Persistent link: https://www.econbiz.de/10008810695

Labor Market Effects of Technology Shocks

Canova, Fabio - 2014

We analyze the effects of neutral and investment-specific technology shocks on hours worked and unemployment. We characterize the response of unemployment in terms of job separation and job finding rates. We find that job separation rates mainly account for the impact response of unemployment...

Persistent link: https://www.econbiz.de/10012709401

Trade Shocks and Labor-Market Adjustment

McLaren, John - 2022

This survey reviews research on how workers and labor markets respond to trade shocks, with an emphasis on recent and ongoing work and on dynamic rather than static analysis. Some studies estimate rich models of worker behavior, while others simplify the worker's problem to embed it in a rich...

Persistent link: https://www.econbiz.de/10013294351

Adjustment Dynamics and the Natural Rate : An Account of UK Unemployment

Snower, Dennis J.; Henry, S. G. B.; Karanassou, Marika - 2021

Adjustment Dynamics and the Natural Rate: An Account of UK Unemployment. This paper challenges what is the standard account of UK unemployment, namely that the major swings in unemployment over the past 25 years are due predominantly to movements in the underlying empirical "natural rate of...

Persistent link: https://www.econbiz.de/10013321353