Resolving the Missing Deflation and Inflation Puzzles
VOX, CEPR Policy Portal,
The alleged breakdown of the Phillips curve has left monetary policy researchers and central bankers wondering if we need to develop completely new models for price and wage determination. This column argues that a relatively small alteration of the standard New Keynesian model, combined with using the nonlinear instead of the linearised solution, is sufficient to resolve the two puzzles – the ‘missing deflation’ during the recession and the ‘missing inflation’ during the recovery – underlying the supposed breakdown.
IWH-Insolvenztrend: Weniger Firmenpleiten, aber viel mehr Jobs betroffen Deutlich schneller als die amtliche Statistik...
IWH-Insolvenzforschung Die IWH-Insolvenzforschungsstelle bündelt die...
Members & Research Doctoral Students Annika Backes ; Doctoral thesis project: tba Dmitri Bershadskyy ; Doctoral thesis project: "Experimental Analysis...
The CompNet Competitiveness Database The Competitiveness Research Network (CompNet)...
Evidenzbasierte Politikberatung (IWH-CEP)
Zentrum für evidenzbasierte Politikberatung (IWH-CEP) ...
Industrial Relations: Worker Codetermination and Collective Wage Bargaining
Jahrbücher für Nationalökonomie und Statistik,
Trade unions and employers’ associations, collective bargaining, and employee representation at the workplace are the cornerstones of industrial relations systems in many developed countries. Germany stands out as a country with powerful works councils and a high coverage rate of collective bargaining agreements, supported by encompassing interest groups of employees and employers and by the state. The German case and the perceived stability of its industrial relations regime have attracted considerable attention among researchers and politicians, which also has to do with the country’s high productivity, comparably few strikes, and relatively minor employment problems. However, in recent years industrial relations in many countries including Germany have come under pressure and the fact that there is no obvious and clearly superior alternative to the current regime of industrial and labour relations may not be sufficient to guarantee the survival of the present system.
European Firms after the Crisis – New Insights from the 5th Vintage of the CompNet Firm-level-based Database ...
The Minimum Wage Effects on Skilled Crafts Sector in Saxony-Anhalt ...
Size of Training Firms and Cumulated Long-run Unemployment Exposure – The Role of Firms, Luck, and Ability in Young Workers’ Careers ...