Monetary policy and unemployment : the US, Euro-area and Japan

Online-Ressource (277 p)

ill

Routledge international studies in money and banking ; 31

"Papers presented at a conference hosted by the Economics Dept. and the Centre for Economic Policy Analysis of the New School University held from Nov. 22-23, 2002."_T.p verso

Includes bibliographical references and index

Cover; Monetary Policy and Unemployment: The US, Euro-area, and Japan; Copyright; Contents; Contributors; 1 Introduction; Part I Overview: Unemployment and monetary policy in the three currency areas; 2 Monetary policy and unemployment; 3 Some notes on monetary policy and unemployment; 4 The long stagnation of the Japanese economy during the 1990s and macroeconomic policies; Part II Labor market institutions and unemployment; 5 The role of shocks and institutions in the rise of European unemployment: The aggregate evidence

6 Labor market institutions and unemployment in Europe: A comment on Blanchard and Wolfers7 Labor market dynamics in the Euro-area: A model-based sensitivity analysis; Part III Structuralist causes of unemployment and monetary policy; 8 The structuralist perspective on real exchange rate, share price level, and employment path: What room is left for money?; 9 The long stagnation and monetary policy in Japan: A theoretical explanation; 10 Monetary policy, the labor market, and pegged exchange rates: A study of the German economy; Part IV Monetary policy rules, fiscal policy, and unemployment

11 The constitutional position of the Central Bank 12 Activist stabilization policy and inflation: The Taylor rule in the 1970s; 13 The Fed's monetary policy rule: Past, present, and future; 14 What is the impact of tax and welfare reforms on fiscal stabilizers?: A simple model and an application to EMU; Index

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