Publication
Jun 2007
This publication examines the effects of monetary policy shocks on wages and employment in the Eurozone. The authors use a large data set and factor-augmented vector autoregression to estimate how common monetary policy shocks in the zone influence relative wages and employment in the various countries and sectors. The rationale is to relate the estimated cross-country differences in wage and employment responses to differences in labor market institutions and sectoral composition.
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English (PDF, 22 pages, 709 KB) |
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Author | Andrew McCallum, Frank Smets |
Series | Kiel Institute Working Papers |
Issue | 1360 |
Publisher | Kiel Institute for the World Economy |
Copyright | © 2007 Kiel Institute for the World Economy |