Endogenous Wage Indexation and Aggregate Shocks

Empirical and institutional evidence finds considerable time variation in the degree of wage indexation to past inflation, a finding that is at odds with the assumption of constant indexation parameters in most New-Keynesian DSGE models. We build a DSGE model with endogenous wage indexation in which utility maximizing workers select a wage indexation rule in response to aggregate shocks and monetary policy. We show that workers index wages to past inflation when output fluctuations are primarily explained by technology and permanent inflation-target shocks, whereas they index to trend inflation when aggregate demand shocks dominate output fluctuations. The model's equilibrium wage setting can explain the time variation in wage indexation found in post-WWII U.S. data

Endogenous wage indexation and aggregate shocks

Wage indexation practices have changed. Evidence on the U.S. for instance suggests that wages were heavily indexed to past inflation during the Great Inflation but not during the Great Moderation. However, most DSGE models assume fixed indexation parameters in wage setting, which might not be structural in the sense of Lucas (1976). This paper presents a New-Keynesian model in which workers, by maximizing their welfare, set their wage indexation rule in response to aggregate shocks and monetary policy. We find that workers index their wages to past inflation when technology and permanent inflation-target shocks drive output fluctuations; when aggregate demand shocks do, workers index to trend-inflation. In addition, workers' choices do not coincide with the social planner's choice, which may explain the observed changes in wage indexation in the post-WWII U.S. data

Performance of Geant4 in simulating semiconductor particle detector response in the energy range below 1 MeV

Geant4 simulations play a crucial role in the analysis and interpretation of experiments providing low energy precision tests of the Standard Model. This paper focuses on the accuracy of the description of the electron processes in the energy range between 100 and 1000 keV. The effect of the different simulation parameters and multiple scattering models on the backscattering coefficients is investigated. Simulations of the response of HPGe and passivated implanted planar Si detectors to \beta{} particles are compared to experimental results. An overall good agreement is found between Geant4 simulations and experimental data

Macroparasite fauna of alien grey squirrels (Sciurus carolinensis): composition, variability and implications for native species.

Introduced hosts populations may benefit of an "enemy release" through impoverishment of parasite communities made of both few imported species and few acquired local ones. Moreover, closely related competing native hosts can be affected by acquiring introduced taxa (spillover) and by increased transmission risk of native parasites (spillback). We determined the macroparasite fauna of invasive grey squirrels (Sciurus carolinensis) in Italy to detect any diversity loss, introduction of novel parasites or acquisition of local ones, and analysed variation in parasite burdens to identify factors that may increase transmission risk for native red squirrels (S. vulgaris). Based on 277 grey squirrels sampled from 7 populations characterised by different time scales in introduction events, we identified 7 gastro-intestinal helminths and 4 parasite arthropods. Parasite richness is lower than in grey squirrel's native range and independent from introduction time lags. The most common parasites are Nearctic nematodes Strongyloides robustus (prevalence: 56.6%) and Trichostrongylus calcaratus (6.5%), red squirrel flea Ceratophyllus sciurorum (26.0%) and Holarctic sucking louse Neohaematopinus sciuri (17.7%). All other parasites are European or cosmopolitan species with prevalence below 5%. S. robustus abundance is positively affected by host density and body mass, C. sciurorum abundance increases with host density and varies with seasons. Overall, we show that grey squirrels in Italy may benefit of an enemy release, and both spillback and spillover processes towards native red squirrels may occur

Living on the edge: Space use of Eurasian red squirrels in marginal high-elevation habitat.

In marginal habitats located at the edge of a species\u2019 range, environmental conditions are frequently extreme and individuals may be subject to different selective pressures compared to central populations. These so-called edge or marginal populations tend to have lower densities and reproductive rates than populations located in more suitable habitats, but little is known about local adaptations in spacing behavior. We studied space use and social organization in a population of Eurasian red squirrels (Sciurus vulgaris) in a high-elevation marginal habitat of dwarf mountain pine (Pinus mugo) and compared it with spacing patterns in high-quality Scots pine (Pinus sylvestris) forest at lower-elevation. Home ranges and core areas were larger in the marginal habitat. In both habitats, males used larger home ranges than females, but sex differences in core area size were significant only in the edge population. Patterns of core area overlap were similar in both habitats with intra-sexual territoriality among adult females and higher degrees of inter-sexual overlap, typical for the species throughout its range. However, low densities in the edge population resulted in higher female by males overlap in spring-summer, suggesting males increased home ranges and core areas during mating season to augment access to estrus females. Thus, in the marginal habitat, with low food abundance and low population densities, linked with extreme winter conditions, squirrels, especially males, used large home ranges. Finally, squirrels responded more strongly to variation in food availability (inverse relation between home range size and seed abundance), and even to fluctuations in density (inverse relation between core area size and density of animals of the same sex), in the marginal than in the high-quality habitat, suggesting high behavioral plasticity to respond to the ecological constraints in marginal habitats