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Albanesi, Stefania (contributor); … - 2002 - [Elektronische Ressource]

"Why is inflation persistently high in some periods and low in others? The reason may be absence of commitment in … trigger strategies. In these traps, expectations of high or low inflation lead the public to take defensive actions, which … inflation rate is low on average. This analysis suggests that institutions which promote commitment can prevent high inflation …

Persistent link: https://www.econbiz.de/10001676637

Economic perspectives

Federal Reserve Bank of Chicago - Chicago, Ill. : Research Dept. of the Federal Reserve Bank - 1.1977 - 6.1982; 13.1989 -

Persistent link: https://www.econbiz.de/10000361175

Firing costs and business cycle fluctuations

Veracierto, Marcelo (contributor) - 2003 - [Elektronische Ressource]

"This paper evaluates to what extent the introduction of firing costs can affect the aggregate dynamics of a neoclassical growth model with hetrogeneous establishments. Similarly to the previous literature, firing costs are found to have large steady- state effcts. However, they have no...

Persistent link: https://www.econbiz.de/10001909318

Economic perspectives

Federal Reserve Bank of Chicago - Chicago, Ill. : Federal Reserve Bank of Chicago - Nachgewiesen 3.1977 -

Persistent link: https://www.econbiz.de/10001637311

The cost of business cycles under endogenous growth

Barlevy, Gadi (contributor) - 2003 - [Elektronische Ressource]

"In his famous 1987 monograph, Robert Lucas argued that further stabilizing the business cycles that persisted in the post-War era was pointless, because these cycles had a negligible effect on societal well- being. In particular, Lucas demonstrated that society should be willing to pay only a...

Persistent link: https://www.econbiz.de/10001915579

Earnings inequality and the business cycle

Barlevy, Gadi (contributor); Tsiddon, Daniel (contributor) - 2004 - [Elektronische Ressource]

"Economists have long viewed recessions as contributing to increasing inequality. However, this conclusion is largely based on data from a period in which inequality was increasing over time. This paper examines the connection between long-run trends and cyclical variation in earnings...

Persistent link: https://www.econbiz.de/10002049337

On the cyclical behavior of employment, unemployment and labor force participation

Veracierto, Marcelo (contributor) - 2002 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001717055