Waste management

The wage-price pass-through across sectors: evidence from the euro area

Retrieved on: 
Tuesday, June 18, 2024

Abstract This paper studies the pass-through from wages to producer prices using sectoral disaggregated data for the euro area.

Key Points: 
    • Abstract This paper studies the pass-through from wages to producer prices using sectoral disaggregated data for the euro area.
    • We find a positive and statistically significant wage-price pass-through that reaches 50% after three years, which differs across sectors.
    • Instead, the estimates hint at an important role for international competition in the domestic market for the tradeable sector.
    • They also suggest that the sales destination matters: wage growth contributes to domestic inflation for goods but not to export inflation.
    • Finally, we also provide evidence of an increase in the wage-price pass-through after 2020, particularly in private services.
    • This illustrates how the link between wages and prices, the so-called wage-price pass-through, is a key element in understanding inflation developments.
    • Our results highlight a sizeable wageprice pass-through in the euro area, which stabilises at around 50% after two to three years.
    • In particular, we show that a higher import penetration in the domestic market lowers the wage-price pass-through in the industrial sector.
    • Overall, our results underscore the importance of considering sectoral heterogeneity when formulating a monetary policy response to wage pressures.
    • ECB Working Paper Series No 28xx 2 1 Introduction As inflation made a come back with the post-pandemic re-openings in 2021, wage developments also took centre stage.
    • This illustrates how the link between wages and prices, the so-called wage-price pass-through, is a key ingredient to understand inflation developments.
    • Our paper is the first to study the pass-through from wages to producer prices in the euro area using sectoral disaggregated data.
    • We highlight a sizeable wage-price pass-through in the euro area, which stabilises at around 50% after two to three years.
    • (2022), we also identify a new international channel at play: the wage-price pass-through in industry matters for domestic sales but not for exports.
    • Evidence for the euro area also shows that the wage-price pass-through is smaller in recessions than in expansions (Hahn, 2020).
    • In the United States, Peneva and Rudd (2017) find little evidence that changes in labor costs have a substantial effect on price inflation in recent years.
    • (2021) document a weakening of the wage pass-through in the United States, and attributes it to better-anchored inflation expectations.
    • Their results also document a weakening pass-through over time, in particular in the goods sector prior to the Covid-19 crisis.
    • (2023) show in a theoretical model that a combined increase in input prices and in wages amplify the total pass-through to prices.
    • Chin and Lin (2023) also find a rising ECB Working Paper Series No 28xx 4 pass-through from wages to consumer prices after the pandemic.
    • (2023) document an increasing inflationary effect, both to producer prices and consumer prices, of supply-chain constraints in manufacturing industries after Covid.
    • Similar evidence has been found for the United States (LaBelle and Santacreu, 2022).
    • The next section describes the data and highlights some salient stylized facts regarding inflation and wage dynamics across sectors.
    • 2 Data collection and stylized facts 2.1 Data collection We rely on dissagregated economic data at the sectoral level for the euro area from Eurostat.
    • More specifically, we gather indices on producer prices (PPI)2 , import prices of industrial goods3 , turnover, gross wages and salaries and hours worked.
    • 5 Specifically, we take the difference in log terms between the indices on gross wages and the indices on hours worked.
    • 9 Domestically produced goods or services can be sold domestically or exported, and the selling prices can differ depending on the sales destination.
    • However, the PPI series for goods sold domestically are only available for the industry sector in Eurostat.
    • ?Full sample? corresponds to the 2009Q1-2023Q2 sample, ?Pre-Covid? to the 2009Q1-2019Q4 sample and ?Post-Covid? to 2020Q1-2023Q2.
    • Table 1 provides summary statistics of the four-quarter change in producer prices, wages per hour worked and input prices.
    • The second and third vertical panels display the figures for the pre-Covid sample (2009Q1-2019Q4) and for the post-Covid sample (2020Q1-2023Q2), respectively.
    • Hence, for any given 2-digit sector s, we employ the change in labour productivity growth of the corresponding 1-digit sector s?.
    • Specifically, a 10% increase in input prices is associated with an increase in 6.9% in producer prices after one year.
    • , 20 quarters whereas the right-hand side panel reports the estimates of ?h from equation 2 separately for industry and private services.
    • We investigate this question for the euro area by estimating our baseline equation 2 separately for the industrial and for the private service sectors.
    • 4.1 Sectoral labour shares Private services sectors tend to be more labour-intensive than industrial sectors (see evidence for the euro area in Figure A1 in Annex).
    • The following columns further suggest that the wage-price pass-through remains non-significant, irrespective of whether the goods are exported to other euro area countries or outside the euro area.
    • Overall, these results provide evidence of an increasing wage-price pass-through in the euro area after Covid.
    • Globalisation and inflation: New cross- ECB Working Paper Series No 28xx 29 country evidence on the global determinants of domestic inflation.
    • More specifically, it asks the following question How do you expect your selling prices to change over the next 3 months?
    • Information on all of the papers published in the ECB Working Paper Series can be found on the ECB?s website.

DP World Receives Green Marine Recertification at Prince Rupert Terminal

Retrieved on: 
Tuesday, June 11, 2024

VANCOUVER, BRITISH COLUMBIA, June 11, 2024 (GLOBE NEWSWIRE) -- In another endorsement of its commitment to sustainability and the environment, DP World , a global leader in supply chain solutions, has achieved Green Marine recertification for its Fairview Container Terminal at the Port of Prince Rupert.

Key Points: 
  • VANCOUVER, BRITISH COLUMBIA, June 11, 2024 (GLOBE NEWSWIRE) -- In another endorsement of its commitment to sustainability and the environment, DP World , a global leader in supply chain solutions, has achieved Green Marine recertification for its Fairview Container Terminal at the Port of Prince Rupert.
  • DP World Prince Rupert converted the Fairview terminal from a general cargo facility to a state-of-the-art container handling facility in October 2007.
  • Green Marine evaluated DP World Prince Rupert on six key performance indicators (KPIs): greenhouse gas and air pollutants management, spill prevention and stormwater handling, community impact, environmental leadership, waste management, and community relations.
  • Doug Smith, CEO of DP World in Canada, said: “Receiving the Green Marine certification not only reinforces Prince Rupert’s reputation as a leader in environmental stewardship but also elevates the standard for sustainable port operations globally.

Concrete Pumping Holdings Reports Second Quarter Fiscal Year 2024 Results

Retrieved on: 
Thursday, June 6, 2024

Second Quarter Fiscal Year 2024 Summary vs. Second Quarter of Fiscal Year 2023 (unless otherwise noted)

Key Points: 
  • Second Quarter Fiscal Year 2024 Summary vs. Second Quarter of Fiscal Year 2023 (unless otherwise noted)
    Revenue of $107.1 million compared to $107.8 million.
  • Revenue in the second quarter of fiscal year 2024 was $107.1 million compared to $107.8 million in the second quarter of fiscal year 2023.
  • Net income in the second quarter of fiscal year 2024 was $3.0 million compared to $5.6 million in the prior year quarter.
  • Revenue in the second quarter of fiscal 2024 decreased 5% to $74.6 million compared to $78.4 million in the prior year quarter.

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates MODN, DPSI, SRCL on Behalf of Shareholders

Retrieved on: 
Wednesday, June 5, 2024

If you are a Model N shareholder, click here to learn more about your rights and options .

Key Points: 
  • If you are a Model N shareholder, click here to learn more about your rights and options .
  • DecisionPoint Systems, Inc. (NYSE: DPSI)’s sale to an affiliate of Barcoding Holdings, LLC for $10.22 in cash per share.
  • Halper Sadeh LLC may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits on behalf of shareholders.
  • Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct.

Kuehn Law Encourages AMBC, SGRP, SRDX, and SRCL Investors to Contact Law Firm

Retrieved on: 
Wednesday, June 5, 2024

SOUTHAMPTON, N.Y., June 05, 2024 (GLOBE NEWSWIRE) -- Kuehn Law, PLLC, a shareholder litigation law firm, is investigating potential claims related to the below-listed proposed mergers.

Key Points: 
  • SOUTHAMPTON, N.Y., June 05, 2024 (GLOBE NEWSWIRE) -- Kuehn Law, PLLC, a shareholder litigation law firm, is investigating potential claims related to the below-listed proposed mergers.
  • Kuehn Law may seek additional disclosures or other relief on behalf of the shareholders of these companies.
  • Concerned shareholders are encouraged to contact Justin Kuehn, Esq., at [email protected] or call (833) 672-0814.
  • Kuehn Law covers all case costs and does not charge its investor clients.

Casella Recognized on USA Today’s Climate Leaders List

Retrieved on: 
Wednesday, June 5, 2024

RUTLAND, Vt., June 05, 2024 (GLOBE NEWSWIRE) -- Casella Waste Systems, Inc. (Nasdaq: CWST), a regional solid waste, recycling and resource management services company, has been named to USA Today’s “America’s Climate Leaders 2024” list for the second consecutive year.

Key Points: 
  • RUTLAND, Vt., June 05, 2024 (GLOBE NEWSWIRE) -- Casella Waste Systems, Inc. (Nasdaq: CWST), a regional solid waste, recycling and resource management services company, has been named to USA Today’s “America’s Climate Leaders 2024” list for the second consecutive year.
  • A pioneer in sustainable waste and recycling innovation, Casella established the first recycling facility in Vermont in 1977, recognized the benefits of organics and food waste recovery in the 1990’s, and was a charter member of the EPA’s Climate Leaders program in 2005.
  • “Sustainable innovation in material, resource, and waste management has been central to our business since its founding,” said John W. Casella, Chairman and CEO of Casella.
  • The company’s climate achievements were recognized in 2012 by the EPA, the Association of Climate Change Officers, the Center for Climate and Energy Solutions, and the Climate Registry with a Climate Leadership Award for Excellence in GHG management.

Norwegian Cruise Line Holdings Publishes 2023 “Sail & Sustain” Report Showcasing Progress in Sustainability Initiatives

Retrieved on: 
Wednesday, June 5, 2024

MIAMI, June 05, 2024 (GLOBE NEWSWIRE) -- Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) (the “Company”), a leading global cruise company which operates the Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises brands, today published its 2023 “Sail & Sustain” Report, which details the Company’s progress in its global sustainability program, emphasizing the Company’s dedication to driving positive environmental and societal impact. This effort is a cornerstone of the recently unveiled “Charting the Course” strategy, guiding the Company’s mission for guests to “Vacation Better, Experience More.”

Key Points: 
  • MIAMI, June 05, 2024 (GLOBE NEWSWIRE) -- Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) (the “Company”), a leading global cruise company which operates the Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises brands, today published its 2023 “Sail & Sustain” Report, which details the Company’s progress in its global sustainability program, emphasizing the Company’s dedication to driving positive environmental and societal impact.
  • Key highlights from the 2023 Report under each pillar:
    Active Steps Toward Climate Action: In 2023, Norwegian Cruise Line Holdings introduced short- and near-term GHG intensity reduction targets to guide its path toward net zero by 2050.
  • In 2023, the Company’s team member cruise benefit program was revamped to include new deeply discounted rates at Norwegian Cruise Line and interline rates at Regent Seven Seas Cruises.
  • Upholding Ethical Conduct: Norwegian Cruise Line Holdings emphasizes conducting business legally and ethically, requiring all team members, executives, and directors to adhere to the Code of Ethical Business Conduct at all times.

SHAREHOLDER UPDATE: Halper Sadeh LLC Continues to Investigate SRCL, MRO, SRDX

Retrieved on: 
Tuesday, June 4, 2024

If you are a Stericycle shareholder, click here to learn more about your rights and options .

Key Points: 
  • If you are a Stericycle shareholder, click here to learn more about your rights and options .
  • If you are a Marathon Oil shareholder, click here to learn more about your legal rights and options .
  • Halper Sadeh LLC may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits on behalf of shareholders.
  • Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct.

Egypt Construction Equipment Market Assessment 2024-2029: Extensive Application of Hydraulic Excavators, Introduction of BIM Technologies - ResearchAndMarkets.com

Retrieved on: 
Friday, June 7, 2024

Develon, Caterpillar, Komatsu, Hitachi & Volvo Construction equipment have a substantial share in the Egypt construction equipment market.

Key Points: 
  • Develon, Caterpillar, Komatsu, Hitachi & Volvo Construction equipment have a substantial share in the Egypt construction equipment market.
  • Earthmoving equipment accounted for the largest market share of the Egypt construction equipment market in 2023.
  • Mantrac Group, ATCO World, EIM Group & BREMCO are some of the major suppliers of electric forklifts in the Egypt construction equipment market.
  • Recently, the sales of used construction equipment have witnessed growth in Egypt construction equipment market.

Nuclear Decommissioning Services Market Size in Europe is set to grow by USD 1.84 billion from 2024-2028, Increasing shutdown of nuclear reactors boost the market, Technavio

Retrieved on: 
Friday, June 14, 2024

Robotics enhances safety, lowers contamination, and offers cost savings, making it a crucial driver for the European nuclear decommissioning services market's expansion.

Key Points: 
  • Robotics enhances safety, lowers contamination, and offers cost savings, making it a crucial driver for the European nuclear decommissioning services market's expansion.
  • The European Nuclear Decommissioning Services market is experiencing significant growth due to the increasing demand for decarbonization and the decommissioning of aging nuclear power plants.
  • The UK, France, and Germany are major players in the European Nuclear Decommissioning Services market.
  • Overall, the European Nuclear Decommissioning Services Market requires innovative solutions to address these challenges and ensure the safe and efficient decommissioning of nuclear facilities.