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Inflation dynamics in the euro area and the role of expectations

Paloviita, Maritta - EconWPA - 2004

This paper assesses empirically the two main alternative specifications of the output gap-based Phillips relation for the euro area: the older expectations-augmented Phillips curve and the new Keynesian Phillips curve. The main focus is on the role of expectations and comparison of the two...

Persistent link: https://www.econbiz.de/10005126170

Inflation Premium and Oil Price Volatility

Castillo, Paul; Montoro, Carlos; Tuesta, Vicente - EconWPA - 2005

In this paper we establish a link between the volatility of oil price shocks and a positive expected value of inflation in equilibrium (inflation premium). In doing so, we implement the perturbation method to solve up to second order a benchmark New Keynesian model with oil price shocks. In...

Persistent link: https://www.econbiz.de/10005126223

The role of expectations in the inflation process in the euro area

Paloviita, Maritta; Virén, Matti - EconWPA - 2005

This paper analyses the role of inflation expectations in the euro area. On one hand, the question is how inflation expectations affect both inflation and output, and, on the other hand, how inflation expectations reflect developments in these variables. The analyses make use of a simple VAR...

Persistent link: https://www.econbiz.de/10005126316

How Does Global Disinflation Drag Inflation in Small Open Economies?

Vega, Marco; Winkelried, Diego - EconWPA - 2004

This paper shows the way how persistent world inflation shocks hitting a small open economy can re-weight the importance of domestic and foreign factors in the determination of prices. In this sense, we study why the recently observed global disinflation environment may imply a weakening of the...

Persistent link: https://www.econbiz.de/10005412737

Expectations, Learning and Macroeconomic Persistence

Milani, Fabio - EconWPA - 2005

of macroeconomic variables. I estimate the model by likelihood-based Bayesian methods, which allow the estimation of the …

Persistent link: https://www.econbiz.de/10005561139

micro Foundatiosn of Macro Economics: An Empirical Evidence of Phillips Curve

Azid, Toseef - EconWPA - 2004

Persistent link: https://www.econbiz.de/10005561164

POLICY ILLUSION, MACROECONOMIC INSTABILITY AND THE UNRECORDED ECONOMY

Feige, Edgar L.; McGee, Robert T. - EconWPA - 2005

During the decade of the 1970’s the US economy unexpectedly suffered from “stagflation” namely, high unemployment, slowed economic growth and high rates of inflation. During the 1980’s the major macroeconomic problem became high interest rates and massive government deficits....

Persistent link: https://www.econbiz.de/10005561172

Comparing the “D.V” lottery with the point system: costs, benefits and a superior alternative.

Uwaifo, Ruth - EconWPA - 2005

The diversity visa lottery popularly known as the D.V lottery is a U.S relatively new immigration policy that was … in the U.S. However, from the policy inception, immigration specialists seriously doubted the claimed objective. They … would be probably had to verify. In this paper, we review in details the D.V immigration policy program considering …

Persistent link: https://www.econbiz.de/10005125765

Public pensions and immigration policy when voters are differently skilled

Krieger, Tim - EconWPA - 2004

Although immigration of workers generates a positive externality on members of domestic pension systems, many countries … effects from immigration as well. …

Persistent link: https://www.econbiz.de/10005125989

Staying Competitive in the High-tech Global Economy: Another Look at the H-1B Visa

Cynamon, Barry - EconWPA - 2001

This paper addresses a specific suggestion for immigration reform—that we must seek skilled immigrants—by examining … support for a move to unlimited H-1B visa issuance. Great care is taken to include up to date media coverage as immigration … immigration and then reviews the current landscape of U.S. immigration and the H-1B visa market, showing the strong moral and …

Persistent link: https://www.econbiz.de/10005408048