Central Bank Independence & Coordinated Wage Bargaining: Their Interaction in Germany & Europe. CES Germany & Europe Working Papers, No. 04.4, 1994

This paper explores the fashionable proposition that with a more independent central bank, a country can secure lower levels of inflation without higher unemployment. Hall shows that the operation of the central bank depends on the character of wage bargaining. He illustrates this point with some cross-national data and an analysis of how coordinated wage bargaining is secured in Germany. He concludes by exploring the implications of this analysis for European Monetary Union.

Did quantitative easing affect interest rates outside the US? New evidence based on interest rate differentials. CEPS Working Document No. 416/January 2016

This paper explores the effects of non-standard monetary policies on international yield relationships. Based on a descriptive analysis of international long-term yields, we find evidence that long-term rates followed a global downward trend prior to as well as during the financial crisis. Comparing interest rate developments in the US and the eurozone, it is difficult to detect a distinct impact of the first round of the Fed’s quantitative easing programme (QE1) on US interest rates for which the global environment – the global downward trend in interest rates – does not account. Motivated by these findings, we analyse the impact of the Fed’s QE1 programme on the stability of the US-euro long-term interest rate relationship by using a CVAR (cointegrated vector autoregressive) model and, in particular, recursive estimation methods. Using data gathered between 2002 and 2014, we find limited evidence that QE1 caused the break-up or destabilised the transatlantic interest rate relationship. Taking global interest rate developments into account, we thus find no significant evidence that QE had any independent, distinct impact on US interest rates.

Wage inequality in Germany – What role does global trade play? Policy Brief #2015/03

Wage inequality in Germany has increased significantly since the mid-1990s. The intensification of international trade relations is a frequently cited cause for this issue. However, an empirical study revealed that global trade can only directly explain around 15 percent of the increase in wage inequality in Germany. Primarily, the growing heterogeneity among companies in Germany plays a greater role – especially within industries. The decline in collective bargaining is the primary company-specific driver of wage inequality. Nevertheless, protectionist measures would not be effective for achieving greater wage equality.

An Italian job: the need for collective wage bargaining reform. Bruegel Policy Brief ISSUE 2016/11 - JULY 2016

Highlights: Since the mid-1990s, Italy has been characterised by a lack of labour productivity growth, combinedwith a 60 percent growth in labour costs, 20 percentage points above euro-area average consumer price growth. As a consequence, Italy has become less competitive compared to its euro-area partners, the profitability of its firms has dropped and real GDP-per-capita has flatlined. • At the root of the substantial discrepancy between wages and productivity is Italy’s system of centralised wage bargaining which, in many ways, is designed without regard for the underlying industrial structure and geographical heterogeneity of the Italian economy.This has fostered perverse incentives and imbalances within Italy. • Collective wage bargaining, and in particular the determination of base salaries, should be moved from the national to the regional level for all contracts, in the public and private sectors.The Mezzogiorno,which might superficially be seen as losing out from this policy, would actually gain the most in competitiveness terms. • Furthermore, measures should be taken so that, in the long run, the Italian industrial structure evolves into a less fragmented small-company-based economy. This firm consolidation would likely expand the use of firm-level agreements and performance payments, and would improve Italy’s productivity and competitiveness overall.

FAIRLIE: Stata module to generate nonlinear decomposition of binary outcome differentials

fairlie computes the nonlinear decomposition of binary outcome differentials proposed by Fairlie (1999, 2003).

Economic, social, and demographic characteristics of Spanish-American wage workers on U.S. farms /

Cover title.

Conciliation act, 1896, and Industrial courts act, 1919. Report on conciliation and arbitration including particulars of proceedings under the Conciliation act, 1896, the Coal mines (minimum wage) act, 1912, the Wages (temporary regulation) acts, 1918 and 1919, the Restoration of pre-war practices act, 1919, and the Industrial courts act, 1919 ... 1919[-1920] ...

Title varies slightly.

Data pertinent to the establishment of minimum wage rates under the Fair labor standards act for employment newly covered by the amendments of 1966 in educational institutions in Puerto Rico /

"WH67-418."

Data pertinent to the establishment of minimum wage rates under the Fair labor standards act for newly covered employment in retail trade (including food service employees in retail establishments) in Puerto Rico /

"WH67-300."

Data pertinent to the establishment of minimum wage rates under the Fair labor standards act for employment in other newly covered activities industry in Puerto Rico /

"WH67-381."

Data pertinent to the establishment of minimum wage rates under the Fair labor standards act for employment newly covered by the 1966 amendments in agriculture in Puerto Rico /

"WH67-380."

Data pertinent to a review of minimum wage rates established under the Fair labor standards act for newly covered employment in the banking, insurance, and finance industry in Puerto Rico /

Alternate pages blank.

Data pertinent to the establishment of minimum wage rates under the Fair labor standards act for employment newly covered by the amendments of 1966 in the construction industry in Puerto Rico /

"WH67-641."

The restaurant and food service industry in Puerto Rico : data pertinent to the establishment of minimum wage rates under the Fair labor standards act for employment newly covered by the amendments of 1966 /

"WH67-669."