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Bullard, James B.; Evans, George W.; Honkapohja, Seppo - Federal Reserve Bank of St. Louis - 2004

monetary policy framework. Inclusion of judgement in forecasts can lead to self-fulfilling fluctuations, but without the …

Persistent link: https://www.econbiz.de/10005707643

Macroeconomic co-ordination as an economic policy concept - opportunities and obstacles in the EMU

Hein, Eckhard; Truger, Achim - EconWPA - 2004

This paper traces the euro zone’s inadequate macroeconomic performance in recent years back to the predominance of a restrictive macroeconomic policy mix based on a ‘new monetarist’ approach to economic policy. An approach based on a (post-)Keynesian analysis is presented as a growth and...

Persistent link: https://www.econbiz.de/10005126124

Guidelines for sustained growth in the EU? The concept and consequences of the Broad Economic Policy Guidelines

Hein, Eckhard; Niechoj, Torsten - EconWPA - 2005

The Broad Economic Policy Guidelines contain the answers of the European Commission and the governments of the EU-member countries to the European growth and employment problems. These guidelines have been the major EU-economic policy concept for around ten years now. They can be seen as a...

Persistent link: https://www.econbiz.de/10005126214

Macroeconomic co-ordination as an economic policy concept – opportunities and obstacles in the EMU

Hein, Eckhard; Truger, Achim - EconWPA - 2004

Persistent link: https://www.econbiz.de/10005412745

Leitlinien für ein dauerhaftes Wachstum in der EU? Konzept und Wirkung der Grundzüge der Wirtschaftspolitik

Hein, Eckhard; Niechoj, Torsten - EconWPA - 2005

The Broad Economic Policy Guidelines contain the answers of the European Com-mission and the EU-governments to the growth and employment problems in the EU. These guidelines have been the EU-economic policy concept for ten years now, but this concept has not been able to generate sustained...

Persistent link: https://www.econbiz.de/10005561155

Money, Interest, and Capital Accumulation in Karl Marx’s

Hein, Eckhard - EconWPA - 2005

. Money as a social representative of value, therefore, is introduced at the very beginning of Marx’s microeconomics. Marx …’s rejection of Ricardo’s interpretation of Say’s Law requires that money as a means of circulation and as a means of payment is … realisation of profits for the capitalist class as a whole requires money advances, which have to increase by means of rising …

Persistent link: https://www.econbiz.de/10005076655

Did the Great Inflation occur despite policymaker commitment to a Taylor rule?

Bullard, James B.; Eusepi, Stefano - Federal Reserve Bank of St. Louis - 2004

investment as well as explicit, exogenous growth in productivity and the labor input. We assume the monetary policymaker is …

Persistent link: https://www.econbiz.de/10005360610

A model of near-rational exuberance

Bullard, James B.; Evans, George W.; Honkapohja, Seppo - Federal Reserve Bank of St. Louis - 2007

We study how the use of judgment or "add-factors" in forecasting may disturb the set of equilibrium outcomes when agents learn using recursive methods. We isolate conditions under which new phenomena, which we call exuberance equilibria, can exist in a standard self-referential environment....

Persistent link: https://www.econbiz.de/10005352864

Monetary policy, judgment and near-rational exuberance

Bullard, James B.; Evans, George W.; Honkapohja, Seppo - Federal Reserve Bank of St. Louis - 2007

-fulfilling fluctuations in a subset of the determinacy region. We study how policymakers can minimize the risk of exuberance equilibria. …

Persistent link: https://www.econbiz.de/10005352949

Monetary policy, determinacy, and learnability in a two-block world economy

Bullard, James B.; Schaling, Eric - Federal Reserve Bank of St. Louis - 2006

We study how determinacy and learnability of worldwide rational expectations equilibrium may be affected by monetary policy in a simple, two country, New Keynesian framework under both fixed and flexible exchange rates. We find that open economy considerations may alter conditions for...

Persistent link: https://www.econbiz.de/10005490985