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economy. While about half of all studies for the United States find a significant effect of unemployment and inflation on … choice of the sample period is of crucial importance. While in the very long run we find unemployment, inflation and the …
Persistent link: https://www.econbiz.de/10010535634
affect inflation. Likewise, the interaction between central bank independence and coordination does not affect unemployment. …
Persistent link: https://www.econbiz.de/10005406015
Up to now there was a general conviction that increasing unemployment and inflation have a negative impact on the … the Schröder government. While the results for the former show the known pattern, neither unemployment nor inflation is … significant in the equations of the Schröder government, the latter has even the wrong sign. The missing impact of unemployment …
Persistent link: https://www.econbiz.de/10008572588
This paper studies a model of the distribution of income under bounded needs. Utility derived from any given good reaches a bliss point at a finite consumption level of that good. On the other hand, introducing new varieties always increases utility. It is assumed that each variety is owned by a...
Persistent link: https://www.econbiz.de/10005181434
While fossil energy dependency has declined and energy supply has grown in the postwar world economy, future resource scarcity could cast its shadow on world economic growth soon if energy markets are forward looking. We develop an endogenous growth model that reconciles the current aggregate...
Persistent link: https://www.econbiz.de/10010586070
destructive part of creative destruction is a social cost and therefore biases our estimate of the impact of the innovation on NNP …
Persistent link: https://www.econbiz.de/10010888453
compares price inflation before the crisis with the necessary and actual price cuts that have taken place since the outbreak of … the crisis, predicting a decade of stagnation for the south and inflation for the north. Keynesian demand policy is …
Persistent link: https://www.econbiz.de/10010877720
repression in domestic interest rates—to avoid an avalanche of foreign capital inflows that would threaten inflation and asset …
Persistent link: https://www.econbiz.de/10010877868
import prices only to a small extent, it may have a substantial impact on inflation, as it exerts a sizeable impact on the …
Persistent link: https://www.econbiz.de/10010535633
The sovereign debt crisis has made it clear that central banking is more than keeping inflation low. Central banks are …
Persistent link: https://www.econbiz.de/10009294102