Showing 1 - 10 of 146
A presentation of an equilibrium bond-pricing model driven by two stochastic factors: the real interest rate and the expected rate of inflation. The models parameters are estimated using a maximum-likelihood technique based on a Kalman filter.
Persistent link: https://www.econbiz.de/10005428213
An examination of the inflation-indexing provisions contained in the Economic Recovery Tax Act of 1981 and the Tax Reform Act of 1986.
Persistent link: https://www.econbiz.de/10005428248
This paper addresses the positive and normative implications of indexing risky debt to observable aggregate conditions. These issues are pursued within the context of the celebrated financial accelerator model of Bernanke, Gertler and Gilchrist (1999). The principal conclusions are that the...
Persistent link: https://www.econbiz.de/10009292983
A demonstration that optimal monetary policy can be either procyclical or countercyclical in a model where wages are …
Persistent link: https://www.econbiz.de/10005428218
The authors’ model, embodying moderate amounts of nominal rigidities, accounts for the observed inertia in inflation and persistence in output. The key features of their model are those that prevent a sharp rise in marginal costs after an expansionary shock to monetary policy. Of these...
Persistent link: https://www.econbiz.de/10005428259
A reconsideration of the role of monetary policy in a multiperiod sticky-wage model that incorporates rational expectations and displays the natural rate property.
Persistent link: https://www.econbiz.de/10005428428
An examination of the intensity of supervision in the workplace and its effect on the pay of nonsupervisory employees through the use a wage survey of the hospital industry.
Persistent link: https://www.econbiz.de/10005526614
unemployment can arise in such a framework without placing any a priori restrictions on either wages or severance payments. The …
Persistent link: https://www.econbiz.de/10005526621
An analysis of the variance of wages within and between industries, finding that wage differences are virtually …
Persistent link: https://www.econbiz.de/10005526627
A test of whether the enactment of a dedicated tax leads to higher payroll and wages for public employees, by means of …
Persistent link: https://www.econbiz.de/10005526634