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A theory of economic policy lock-in and lock-out via hysteresis : rethinking economists' approach to economic policy

Palley, Thomas I. - 2016

thinking about policy compared to conventional macroeconomic stabilization theory. The latter treats policy as a dial which is …

Persistent link: https://www.econbiz.de/10011572435

A theory of economic policy lock-in and lock-out via hysteresis: rethinking economists' approach to economic policy

Palley, Thomas I. - 2017

This paper uses hysteresis to develop the concept of policy lock-in and lock-out. Policy changes may near … new issues for optimal policy design. It also offers insights into economic and political crisis theory. Policy lock-in is …

Persistent link: https://www.econbiz.de/10011669507

Nicht zu früh bremsen! : der Einfluss der Geldpolitik auf die langfristige Wirtschaftsentwicklung in Deutschland und den USA

Schettkat, Ronald; Sun, Rongrong - 2009

Neutralität von Geldpolitik wurde diese bei der Suche nach den Ursachen europäischer Arbeitslosigkeit verschont. Tatsächlich … Arbeitsmarktinstitutionen. Wir argumentieren, dass das Zusammenwirken negativer Schocks und einer restriktiven Geldpolitik die wesentliche –wenn … Europa war. Die Bundesbank –Europas „Zentralbank“ vor Etablierung der EZB- hat eine asymmetrische Geldpolitik in dem Sinne …

Persistent link: https://www.econbiz.de/10003836155

The impact of the European Monetary Union on inflation persistence in the Euro area

Meller, Barbara; Nautz, Dieter - 2009

This paper uses the European Monetary Union (EMU) as a natural experiment to investigate whether more effective monetary policy reduces the persistence of inflation. Taking into account the fractional integration of inflation, we confirm that inflation dynamics differed considerably across Euro...

Persistent link: https://www.econbiz.de/10003871762