๐ฆ Cozy up with autumn reads! Let our AI Librarian pick your perfect fireside book ๐
Explore the literary world of this author
Chinaโs household saving rate has increased markedly since the mid-1990s and the age-savings profile has become U-shaped. We find that rising income...
Some New Empirical Evidence
This paper examines the sources of disturbances to output in the United States and a set of EU countries and analyzes labor market adjustment mechanis...
Some Empirical Evidence
This study provides a candid, systematic, and critical review of recent evidence on this complex subject. Based on a review of the literature and some...
In closed or open economy models with complete markets, targeting core inflation enables monetary policy to maximize welfare by replicating the flexib...
This paper examines the comovement of prices with the cyclical component of output. It argues that determining the cyclical behavior of prices by appl...
This paper assesses the relative importance of alternative explanations for the rise in long-term interest rates in the United States from October 199...
A Sectoral Analysis
In this paper, we use micro panel data to examine the effects of oil price changes on employment and real wages, at the aggregate and industry levels....
This paper extends the equilibrium business cycle framework to incorporate ex ante skill heterogeneity among workers. Consistent with the empirical ev...
Evidence From Japan
This paper analyzes the relationship between the real exchange rate and the business cycle in Japan during the floating rate period. A structural vect...
Labor Market Reforms in the United Kingdom
This paper analyzes the effects of the labor market reforms launched in the early 1980s by the Conservative government led by Mrs. Thatcher. It is arg...
This paper uses micro panel data to examine differences in the cyclical variability of employment, hours, and real wages for skilled and unskilled wor...
This note examines recent developments in the Canadian labor market to provide a partial assessment of the magnitude and nature of industrial restruct...
Some Stylized Facts
This paper documents the main stylized features of macroeconomic fluctuations for 12 developing countries. Cross-correlations between domestic industr...
The Core Dynamic and Steady State Model
This study describes the Mark III version of MULTIMOD, the IMF's multi region macroeconomic model. Mark III version of MULTIMOD differs from its prede...
The third stage of European Economic and Monetary Union (EMU) was implemented in January 1999 against the specter of persistently high unemployment in...
A Proposal
In this paper, we develop a proposal for a controlled approach to capital account liberalization for economies experiencing large capital inflows. The...
An Empirical Exploration
This paper analyzes the evolution of volatility and cross-country comovement in output, consumption, and investment fluctuations using two distinct da...
A New Approach
This paper develops an aggregation procedure using time-varying weights for constructing the common component of international economic fluctuations. ...
Meeting the Challenges of Integration with the Mainland
This Occasional Paper provides an overview of the main challenges facing Hong Kong SAR as it continues to become more closely integrated with the main...
This paper provides a quantitative assessment of the relative importance of different labor market adjustment mechanisms in Canada and the United Stat...
A Case Study of Policy Dilemmas Caused by Low Inflation and the Nominal Interest Rate Floor
This paper examines the possible effects on Switzerland of asset preference shifts in favor of Swiss-franc-denominated assets that could result from E...