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CLAVES DE LA INFLACION DE 2005
Marongiu, Federico - EconWPA - 2005
El tema de la inflación ha sido uno de los más debatidos en los últimos meses. Los incrementos de precios registrados en el primer trimestre de 2005 han avivado la discusión. Este trabajo muestra que el problema está lejos de estar fuera de control y que determinadas medidas de política...
Persistent link: https://www.econbiz.de/10005076625
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Macroeconomic Policies of the Economic and Monetary Union: Theorectical Underpinnings and Challenges
Arestis, Philip; Sawyer, Malcolm - EconWPA - 2003
Macroeconomic Policies of the Economic and Monetary Union: Theoretical Underpinnings and Challenges Philip Arestis and Malcolm Sawyer, The Levy Economics Institute and Leeds University Abstract This paper presents two issues: first, an effort to decipher the type of economic analysis and...
Persistent link: https://www.econbiz.de/10005076715
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The Fed’s Consistent Monetary Policy: A Long Term Perspective
Los, Cornelis A. - EconWPA - 2004
This paper describes the Federal Reserve's analytical framework under Volcker and Greenspan, as it was constructed in the early 1980s, during a period of high inflation. It traces the modeling and policy implications of this framework. It discusses the Fed's actual track record and the state of...
Persistent link: https://www.econbiz.de/10005076785
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Monetary Policy Strategies of the European Central Bank and the Federal Reserve Bank of the U.S.
Wray, L. Randall; Sardoni, C. - EconWPA - 2005
In the debate on monetary policy strategies on both sides of the Atlantic, it is now almost a commonplace to contrast the Fed and the ECB by pointing out the former’s flexibility and capacity to adjust rigidity, and the latter’s extreme caution, and obsession with low inflation. In looking...
Persistent link: https://www.econbiz.de/10005076846
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The macroeconomics of social pacts
Acocella, Nicola; Bartolomeo, Giovanni Di; Tirelli, Patrizio - EconWPA - 2004
In this paper we analyze macroeconomic interactions among trade unions, the central bank and the fiscal policymaker. We … explicitly model trade unionsconcern for public expenditure, paving the way for an analysis of the potential gains from … cooperation between the fiscal policymaker and the trade unions, i.e. the so-called corporatist or social pacts that have …
Persistent link: https://www.econbiz.de/10005125759
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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
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A Simple Dynamic Model of Credit and Aggregate Demand
Diaz-Bautista, Alejandro; Escandon, Julio R. - EconWPA - 2003
The purpose of the paper is to present a tractable model of an old topic which is becoming more important in macroeconomics: the link between financial structure and economic activity.
Persistent link: https://www.econbiz.de/10005126180
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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
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Monetary and Fiscal Policy Dynamics in an Asymmetric Monetary Union
Clausen, Volker; Wohltmann, Hans-Werner - EconWPA - 2002
This paper investigates the dynamic effects of monetary and fiscal policy in a monetary union, which is characterized by asymmetric interest rate transmission. This asymmetry gives rise to intertemporal reversals in the relative effectiveness of policy on member country outputs. The direction...
Persistent link: https://www.econbiz.de/10005126325
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INFORMEDNESS OF ECONOMIC AGENTS AND THE QUANTITY THEORY OF MONEY
Salvary, Stanley C. W. - EconWPA - 2005
Historically, informedness of economic agents via price stability has been a rationale for the money supply rule derived from the Quantity Theory of Money. The monetarists maintain that changes in the price level are attributable to the level of the money supply; hence, a money supply rule is...
Persistent link: https://www.econbiz.de/10005126357