Showing 1 - 10 of 12
unemployment to the change in the level of labour force in Canada. Inherently, our model belongs to the class of Phillips curve … uncorrelated noise and systematic errors. Our previous model of inflation and unemployment in Canada is enhanced by the … price inflation accompanied by a substantial fall in the rate of unemployment. Therefore, the new monetary policy in Canada …
Persistent link: https://www.econbiz.de/10008927057
and lagged relationships between the rates of inflation, unemployment, and change in labour force. For France, several … unemployment within the Phillips curve framework. Following the original problem formulation by Fisher and Phillips, the set of … study has validated the reliability and accuracy of the linear and lagged relationships between inflation, unemployment, and …
Persistent link: https://www.econbiz.de/10011109998
such as unemployment. Previous studies indicate that monetary policy affects the output gap only at business cycle … frequencies, but the effects on unemployment may well be more persistent in countries with highly regulated labor markets. We … study the Swedish experience of unemployment and monetary policy. Using a structural VAR we find that around 30 percent of …
Persistent link: https://www.econbiz.de/10005766226
low-skilled workers’ unemployment are examined: wage-setting institutions, employment regulation, globalization, and …The OECD’s unemployment problem is largely concentrated among low-skilled workers. In this paper, four explanations of … achieve low rates of low-skilled unemployment. In contrast, investment in active labour market policies pays off in form of …
Persistent link: https://www.econbiz.de/10008583552
We characterize the monetary competitive equilibrium in a two-country monetary union model involving cash-in-advance constraints both in the factor markets and in the good markets. Simulations show that common money inflation in the union have asymmetric effects on the welfare of workers in the...
Persistent link: https://www.econbiz.de/10005835721
surrounding the effects of rule-based monetary policy on unemployment dynamics in the euro area and the US. We employ a Bayesian …
Persistent link: https://www.econbiz.de/10005051516
In this paper we analyze the effects of a monetary policy shock on Mexican unemployment rates. Unlike previous studies … we re-estimate unemployment rates so that these alternative rates are comparable to those of the OECD member countries …. We find that in response to tightening monetary policy, unemployment increases with a characteristic hump-shaped pattern …
Persistent link: https://www.econbiz.de/10008919788
Annotated remarks made at the 50th Anniversary Conference “Fortalecimiento institucional de los bancos centrales y efectividad de la política monetaria”, of the Central Bank of Nicaragua, February 2010. The paper lays out the importance of institutional strenthening (governance) as an...
Persistent link: https://www.econbiz.de/10011258861
. Furthermore, they fail to allow for quantity rationing and to model unemployment as a catastrophic event. The macroeconomics based …
Persistent link: https://www.econbiz.de/10005181517
The Friedman rule states that steady-state welfare is maximized when there is deflation at the real rate of interest. Recent work by Khan et al (2003) uses a richer model but still finds deflation optimal. In an otherwise standard new Keynesian model we show that, if households have hyperbolic...
Persistent link: https://www.econbiz.de/10009024848