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Cross-country evidence on inflation and inequality suggests that they are positively correlated. I explore the …
Persistent link: https://www.econbiz.de/10005792380
The U.S recession of 2007 to 2009 is unique in the post-World-War-II experience by the broad company it kept. Activity contracted around the world, with the advanced countries of the North experiencing declines in spending normally the purview of the developing economies of the South. The last...
Persistent link: https://www.econbiz.de/10008468628
, control of inflation and control over the growth of national wealth, and a third outcome of importance, a high level of …). The assignment problem considers whether fiscal policy should be used to control inflation, leaving monetary policy to …
Persistent link: https://www.econbiz.de/10005497740
new conventional wisdom concerning the fiscal roots of inflation and the budgetary prerequisites for generating and … yields ambiguous predictions concerning the response of inflation to an increase in the fundamental deficit. In addition the …
Persistent link: https://www.econbiz.de/10005666524
natural rate of unemployment. In addition, because of differential inflation across countries, real exchange rates become …
Persistent link: https://www.econbiz.de/10005666792
pronounced increase of aggregate US producer price inflation. …
Persistent link: https://www.econbiz.de/10011145441
ongoing, inflation uncertainty seems to play a large role. Finally, while modern finance theory prices bonds and other assets …
Persistent link: https://www.econbiz.de/10008642882
countries with low inflation, the raw relationship between average inflation and the growth rate of money is tenuous at best … elasticities implied by theories of Baumol-Tobin and Miller-Orr. Finally, the sample after 1990 shows considerably less inflation … variability, worsening the fit of a one-for-one relationship between money growth and inflation, and generates a fairly low …
Persistent link: https://www.econbiz.de/10008682890
This paper presents a theory of the monetary transmission mechanism in a monetary version of Farmer’s (2009) model in which there are multiple equilibrium unemployment rates. The model has two equations in common with the new-Keynesian model; the optimizing IS curve and the policy rule. It...
Persistent link: https://www.econbiz.de/10008692320
Periods of high indebtedness have historically been associated with a rising incidence of default or restructuring of public and private debts. Sometimes the debt restructuring is more subtle and takes the form of 'financial repression'. Consistent negative real interest rates are equivalent to...
Persistent link: https://www.econbiz.de/10011083679