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Inflation Dynamics and Monetary Policy in Bolivia
Guerson, Alejandro - 2016
This paper explores inflation dynamics and monetary policy in Bolivia. Bolivia's monetary policy framework has been … effective in stabilizing inflation in recent times. This has been a challenging task given high price volatility of key consumer … framework has contributed to the stabilization of inflation, with effective transmission through the bank lending channel, while …
Persistent link: https://www.econbiz.de/10012998770
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Firm-specific capital, nominal rigidities and the business cycle
Altig, David; Christiano, Lawrence J.; Eichenbaum, Martin S. - 2004
inflation is inertial. Microeconomic data indicate that firms change prices frequently. We formulate and estimate a model which … resolves this apparent micro - macro conflict. Our model is consistent with post-war U.S. evidence on inflation inertia even …
Persistent link: https://www.econbiz.de/10011584699
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Firm-Specific Capital, Nominal Rigidities and the Business Cycle
Altig, David; Christiano, Lawrence; Eichenbaum, Martin; … - 2004
inflation is inertial. Microeconomic data indicate that firms change prices frequently. We formulate and estimate a model which … resolves this apparent micro - macro conflict. Our model is consistent with post-war U.S. evidence on inflation inertia even …
Persistent link: https://www.econbiz.de/10010321321
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Involuntary Unemployment and the Business Cycle
Christiano, Lawrence J.; Trabrandt, Mathias; Walentin, Karl - Sveriges Riksbank - 2010
Can a model with limited labor market insurance explain standard macro- and labor market data jointly? We seek to construct a monetary model in which: i) the unemployed are worse off than the employed, i.e. unemployment is involuntary and ii) the labor force participation rate varies with the...
Persistent link: https://www.econbiz.de/10008516098
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Poole Revisited
Collard, Fabrice; Dellas, Harris; Ertz, Guy - Institut de Recherche Économique et Sociale (IRES), … - 1998
We study the properties of alternative central bank targeting procedures in a general equilibrium, monetary model with labor contracts, endogenous velocity and three shocks: money demand, supply and fiscal. Money demand -velocity- shocks emerge as the main source of macroeconomic volatility....
Persistent link: https://www.econbiz.de/10004984942
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Firm-Specific Capital, Nominal Rigidities and the Business Cycle
Altig, David; Christiano, Lawrence; Eichenbaum, Martin; … - Sveriges Riksbank - 2004
inflation is inertial. Microeconomic data indicate that firms change prices frequently. We formulate and estimate a model which … resolves this apparent micro - macro conflict. Our model is consistent with post-war U.S. evidence on inflation inertia even …
Persistent link: https://www.econbiz.de/10005649100
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Can News Be a Major Source of Aggregate Fluctuations? A Bayesian DSGE Approach
Fujiwara, Ippei; Hirose, Yasuo; Shintani, Mototsugu - Vanderbilt University Department of Economics - 2009
We examine whether the news shocks, as explored in Beaudry and Portier(2004), can be a major source of aggregate fluctuations. For this purpose, we extend a standard dynamic stochastic general equilibrium model of Christiano, Eichenbaum, and Evans (2005), and Smets and Wouters (2003, 2007) by...
Persistent link: https://www.econbiz.de/10008624635
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Nonlinear unemployment effects of the inflation tax
Lahcen, Mohammed Ait; Baughman, Garth; Rabinovich, Stanislav - 2021 - This version: June 3, 2021
We argue that long-run inflation has nonlinear and state-dependent effects on unemployment, output, and welfare. Using … anticipated inflation and unemployment. Second, there is also a positive correlation between anticipated inflation and … unemployment volatility. Third, the long-run inflation-unemployment relationship is not only positive, but also stronger when …
Persistent link: https://www.econbiz.de/10012625516
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Labor productivity, effort and the euro area business cycle
Lewis, Vivien; Villa, Stefania; Wolters, Maik H. - 2019
, we demonstrate that effort dampens the response of inflation to exogenous shocks. …
Persistent link: https://www.econbiz.de/10012134398
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Inflation as a fiscal limit
Bianchi, Francesco; Melosi, Leonardo - 2022
Low and stable inflation requires an appropriate fiscal framework aimed at stabilizing government debt. Historically …, trend inflation is critically influenced by actual or perceived changes to this framework, while cost-push shocks only … account for short-lasting movements in inflation. Before the pandemic, a moderate level of fiscal inflation has counteracted …
Persistent link: https://www.econbiz.de/10013357155