Seminar Paper No. 716 NOMINAL WAGE FLEXIBILITY, WAGE INDEXATION AND MONETARY UNION
... setters prefer full indexation, as this stabilises the real wage and thus also employment. In the case of real supply shocks, wage setters want lower indexation, possibly zero, because this leads to real wage changes that completely offset the direct employment effects of the shocks. When both types o ...
... setters prefer full indexation, as this stabilises the real wage and thus also employment. In the case of real supply shocks, wage setters want lower indexation, possibly zero, because this leads to real wage changes that completely offset the direct employment effects of the shocks. When both types o ...
History Course Descriptions - Fayetteville State University
... HIST 301 (3-3-0) The Era of Civil War and Reconstruction: A study of the War Between the States, with an examination of the forces that led to the outbreak of the conflict between North and South, the ramifications of the Union victory, and the problems of reconstruction following the war. Prerequi ...
... HIST 301 (3-3-0) The Era of Civil War and Reconstruction: A study of the War Between the States, with an examination of the forces that led to the outbreak of the conflict between North and South, the ramifications of the Union victory, and the problems of reconstruction following the war. Prerequi ...
- macroeconomics.tu
... from inflation and its incentive for expansionary monetary policy. On the other hand, indexation reduces social costs of inflation and the central bank’s resistance to inflationary policy. These two effects influence the inflation bias in opposite directions, and within the standard model of monetar ...
... from inflation and its incentive for expansionary monetary policy. On the other hand, indexation reduces social costs of inflation and the central bank’s resistance to inflationary policy. These two effects influence the inflation bias in opposite directions, and within the standard model of monetar ...
Local Risk, Local Factors, and Asset Prices∗
... of …rms headquartered in the same area and …nd that their returns move together. Garcia and Norli (2012) show that the returns of geographically focused …rms exceed the returns of geographically dispersed …rms. Korniotis and Kumar (2013) document that local economic conditions are useful in predicti ...
... of …rms headquartered in the same area and …nd that their returns move together. Garcia and Norli (2012) show that the returns of geographically focused …rms exceed the returns of geographically dispersed …rms. Korniotis and Kumar (2013) document that local economic conditions are useful in predicti ...
Primary Source and Background Materials for American History
... An *(asterisk) indicates that these books and eBooks include primary source materials. The other titles listed here will provide information on what life was like in a particular time period, or for a particular group. ...
... An *(asterisk) indicates that these books and eBooks include primary source materials. The other titles listed here will provide information on what life was like in a particular time period, or for a particular group. ...
Unpaid Work and the Economy: Linkages and Their Implications
... highly unequal in its distribution between men and women, with women shouldering the main burden, in terms of participation as well as the time spent on unpaid work,6 (2) paid work is also distributed unequally with men carrying a somewhat higher burden, and (3) women carry a significantly higher b ...
... highly unequal in its distribution between men and women, with women shouldering the main burden, in terms of participation as well as the time spent on unpaid work,6 (2) paid work is also distributed unequally with men carrying a somewhat higher burden, and (3) women carry a significantly higher b ...
Does Redistribution Increase Output? The Centrality of Labor Supply
... While the intertemporal forces described above imply a reduction in aggregate hours worked, they can be countervailed by intratemporal considerations. In particular, we show analytically that, all else equal, aggregate labor supply will tend to fall by less with a rich-to-poor transfer if rich house ...
... While the intertemporal forces described above imply a reduction in aggregate hours worked, they can be countervailed by intratemporal considerations. In particular, we show analytically that, all else equal, aggregate labor supply will tend to fall by less with a rich-to-poor transfer if rich house ...
(i): wages, aggregate demand, and employment
... Keynesian economics, the dominant paradigm in macroeconomics over the past two decades. To be more concrete, my goal is to revisit some aspects of Keynes’s General Theory through the lens of New Keynesian economics—that is, using the tools and language of the latter. The ultimate aim of a project of ...
... Keynesian economics, the dominant paradigm in macroeconomics over the past two decades. To be more concrete, my goal is to revisit some aspects of Keynes’s General Theory through the lens of New Keynesian economics—that is, using the tools and language of the latter. The ultimate aim of a project of ...
Wal-Mart, American consumer citizenship, and the 2008 recession
... picking up their paychecks and then, accompanied by wives and children (and a triumphal soundtrack), spending them in downtown stores on bicycles, furniture, and household appliances. “Because America has a ready purse and gives eager acceptance to what the men of motors have built,” the film procla ...
... picking up their paychecks and then, accompanied by wives and children (and a triumphal soundtrack), spending them in downtown stores on bicycles, furniture, and household appliances. “Because America has a ready purse and gives eager acceptance to what the men of motors have built,” the film procla ...
The World Bank and IMF Policies in Cote d`Ivoire
... policies that is intended as a “one-size-fits all” model of development. No matter the development stage of the donor country or the credibility of the government, these reforms in the financial, banking, export sectors, and fiscal policies have to be carried out in exchange for aid and loans. II. C ...
... policies that is intended as a “one-size-fits all” model of development. No matter the development stage of the donor country or the credibility of the government, these reforms in the financial, banking, export sectors, and fiscal policies have to be carried out in exchange for aid and loans. II. C ...
NBER WORKING PAPER SERIES WAGES, AGGREGATE DEMAND, AND EMPLOYMENT Jordi Galí
... is left unexplained, but one can easily come up with stories to motivate it. The fact that the economy is "on the labor supply" implies that individuals do not face any constraints or rationing of any sort when supplying their labor services. In other words, involuntary unemployment does not exist i ...
... is left unexplained, but one can easily come up with stories to motivate it. The fact that the economy is "on the labor supply" implies that individuals do not face any constraints or rationing of any sort when supplying their labor services. In other words, involuntary unemployment does not exist i ...
labor market institutions and the business cycle - ECB
... Unemployment Rigidities (UR) which capture the institutions - like employment protection legislation, hiring costs and the matching technology - that limit the ‡ows in and out of unemployment; and Real Wage Rigidities (RWR), intended to capture all the institutions - including wage indexation and th ...
... Unemployment Rigidities (UR) which capture the institutions - like employment protection legislation, hiring costs and the matching technology - that limit the ‡ows in and out of unemployment; and Real Wage Rigidities (RWR), intended to capture all the institutions - including wage indexation and th ...
NBER WORKING PAPER SERIES George J. Borjas Working Paper 14796
... taken a turn and begun to pay closer attention to the underlying economics of the problem.2 This paper derives the implications of factor demand theory for the study of the wage impact of immigration ...
... taken a turn and begun to pay closer attention to the underlying economics of the problem.2 This paper derives the implications of factor demand theory for the study of the wage impact of immigration ...
Here
... prices and tendencies to depression in the agrarian sector.25 In the Stockholm case, it should be noted that the population increased rapidly in the 17th century, from about 10,000 in the early years of the century to nearly 60,000 around 1690. Demand for labour, e.g., for building and shipbuilding, ...
... prices and tendencies to depression in the agrarian sector.25 In the Stockholm case, it should be noted that the population increased rapidly in the 17th century, from about 10,000 in the early years of the century to nearly 60,000 around 1690. Demand for labour, e.g., for building and shipbuilding, ...
The European skill premium in international comparative
... industry (which was the most important supplier of capital goods) but for the economy as a whole. Finally, it will be argued that studying this segment of the labour market can lead to insights into the conditions for human capital formation in the economy as a whole, and that the skill-premium of c ...
... industry (which was the most important supplier of capital goods) but for the economy as a whole. Finally, it will be argued that studying this segment of the labour market can lead to insights into the conditions for human capital formation in the economy as a whole, and that the skill-premium of c ...
PAPER THE SOCIAL COST OF LABOR, AND PROJECT EVALUATION: A GENERAL APPROACH
... which have not been previously noted — concerning the relationship between the shadow wage and the market wage. Many of these statements are robust, i.e., they are valid for a wide range of parameter values. The importance of these qualitative results lies in the fact that obtaining the precise nume ...
... which have not been previously noted — concerning the relationship between the shadow wage and the market wage. Many of these statements are robust, i.e., they are valid for a wide range of parameter values. The importance of these qualitative results lies in the fact that obtaining the precise nume ...
Monetary Institutions, Monopolistic Competition, Unionized Labor
... the CB is sufficiently conservative, in the sense that 1 − α(1 − α) I < 0, a nominal wage increase will trigger a tightening of the money supply. Conversely, if the CB is relatively liberal, in the sense that 1 − α(1 − α) I > 0, it will partially accommodate wage increases. The intuition underlying th ...
... the CB is sufficiently conservative, in the sense that 1 − α(1 − α) I < 0, a nominal wage increase will trigger a tightening of the money supply. Conversely, if the CB is relatively liberal, in the sense that 1 − α(1 − α) I > 0, it will partially accommodate wage increases. The intuition underlying th ...
Low Female Labor Force Participation in the Gulf
... some features of the society and economies in these countries that makes it particularly hard for women to gain access to the labor market. In the book Social Changes and Women in the Middle East: State Policy, Education, Economics and Development from 1999, Shirin Shukri discusses how the economic ...
... some features of the society and economies in these countries that makes it particularly hard for women to gain access to the labor market. In the book Social Changes and Women in the Middle East: State Policy, Education, Economics and Development from 1999, Shirin Shukri discusses how the economic ...
Do labor market activities help predict inflation?
... Price stability is an important element in maintaining a healthy economy. Volatile prices, especially when unanticipated, can have a negative impact on aggregate demand, as people are not able to adjust and protect the real value of their financial wealth.1 Such uncertainty can result in disruptions ...
... Price stability is an important element in maintaining a healthy economy. Volatile prices, especially when unanticipated, can have a negative impact on aggregate demand, as people are not able to adjust and protect the real value of their financial wealth.1 Such uncertainty can result in disruptions ...
THE ECoNoMIC RoLE oF CITIES - UN
... Table 5: The World’s Top 20 Global Cities based on Categories of Activities ...
... Table 5: The World’s Top 20 Global Cities based on Categories of Activities ...
Unemployment-Poverty Trade-offs
... in India (see Figure 3). In the MENA region the proportion of working poor is also high, as for instance in Morocco and Syria. A potential trade-off between unemployment reduction and poverty alleviation is thus readily apparent: to the extent that the higher growth rates of output and job creation t ...
... in India (see Figure 3). In the MENA region the proportion of working poor is also high, as for instance in Morocco and Syria. A potential trade-off between unemployment reduction and poverty alleviation is thus readily apparent: to the extent that the higher growth rates of output and job creation t ...
Who is Against Immigration?
... Indirect measures of policy opinions, such as those based on voting and lobbying, are imperfect measures of preferences, because they are jointly determined by individual attitudes and the institutional structure of government (Scheve and Slaughter 2001b, 2001c). In a cross-country work, such as in ...
... Indirect measures of policy opinions, such as those based on voting and lobbying, are imperfect measures of preferences, because they are jointly determined by individual attitudes and the institutional structure of government (Scheve and Slaughter 2001b, 2001c). In a cross-country work, such as in ...
$doc.title
... I. Introduction The wide dispersion in wages across industries is one of the more puzzling characteristics of labor markets. The fact that a worker with the same socioeconomic characteristics—including education, age, sex, and race—earns 38 percent more in automobile manufacturing than in apparel pr ...
... I. Introduction The wide dispersion in wages across industries is one of the more puzzling characteristics of labor markets. The fact that a worker with the same socioeconomic characteristics—including education, age, sex, and race—earns 38 percent more in automobile manufacturing than in apparel pr ...
Scenes and the Creative Workplace
... affirmed and enabled in the collections of amenities that define a place’s leisure, consumption, and expressive qualities contribute to its quality and type of workplaces, to its residential patterns, and to its political debates and culture. But the specific mechanisms are diverse. Our general stra ...
... affirmed and enabled in the collections of amenities that define a place’s leisure, consumption, and expressive qualities contribute to its quality and type of workplaces, to its residential patterns, and to its political debates and culture. But the specific mechanisms are diverse. Our general stra ...
On the Value and Exchange-Value of Money Referring to the
... aggregate equalities, excepting in very special cases, though Marx maintained both of these equalities as logical social linkages between values and prices of production. Foley and Duménil's 'new interpretation' was initially presented to resolve such riddles or difficulties in the traditional appro ...
... aggregate equalities, excepting in very special cases, though Marx maintained both of these equalities as logical social linkages between values and prices of production. Foley and Duménil's 'new interpretation' was initially presented to resolve such riddles or difficulties in the traditional appro ...
Gilded Age
The Gilded Age in United States history is the late 19th century, from the 1870s to about 1900. The term was coined by writer Mark Twain in The Gilded Age: A Tale of Today (1873), which satirized an era of serious social problems masked by a thin gold gilding.The Gilded Age was an era of rapid economic growth, especially in the North and West. As American wages were much higher than those in Europe, especially for skilled workers, the period saw an influx of millions of European immigrants. The rapid expansion of industrialization led to real wage growth of 60% between 1860 and 1890, despite the ever-increasing labor force. However, the Gilded Age was also an era of abject poverty and inequality as millions of immigrants—many from impoverished European nations—poured into the United States, and wealth became highly concentrated. Railroads were the major industry, but the factory system, mining, and finance increased in importance. Immigration from Europe, China and the eastern states led to the rapid growth of the West, based on farming, ranching and mining. Labor unions became important in industrial areas. Two major nationwide depressions—the Panic of 1873 and the Panic of 1893—interrupted growth and caused social and political upheavals. The South after the American Civil War remained economically devastated; its economy became increasingly tied to cotton and tobacco production, which suffered from low prices. Black people in the South were stripped of political power, voting rights, and left economically disadvantaged.The political landscape was notable in that despite some corruption, turnout was very high and elections between the evenly matched parties were close. The dominant issues were cultural (especially regarding prohibition, education and ethnic racial groups), and economic (tariffs and money supply). With the rapid growth of cities, political machines increasingly took control of urban politics. Unions crusaded for the 8-hour working day and the abolition of child labor; middle class reformers demanded civil service reform, prohibition, and women's suffrage. Local governments built schools and hospitals, while private schools and hospitals were founded by local philanthropists. Numerous religious denominations were growing in membership and wealth; they expanded their missionary activity to the world arena. Catholics and Lutherans set up parochial schools and the larger denominations set up many colleges and hospitals.