G2TT
来源类型Discussion paper
规范类型论文
来源IDDP6617
DP6617 Declining Home Bias and the Increase in International Risk Sharing: Lessons from European Integration
Michael Artis; Mathias Hoffmann
发表日期2007-12-20
出版年2007
语种英语
摘要The Phillips curve has flattened in Spain over 1995-2006: unemployment has fallen by 15 percentage points, with roughly constant inflation. This change has been more pronounced than elsewhere. We argue that this stems from the immigration boom in Spain over this period. We show that the New Keynesian Phillips curve is shifted by immigration if natives? and immigrants? labour supply or bargaining power differ. Estimation of the curve for Spain indicates that the fall in unemployment since 1995 would have led to an annual increase in inflation of 2.5 percentage points if it had not been largely offset by immigration.
主题Labour Economics
关键词Immigration Phillips curve
URLhttps://cepr.org/publications/dp6617
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/535448
推荐引用方式
GB/T 7714
Michael Artis,Mathias Hoffmann. DP6617 Declining Home Bias and the Increase in International Risk Sharing: Lessons from European Integration. 2007.
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