Narrow search
Showing 1 - 10 of 129
Cover Image
Informal unemployment insurance and labor market dynamics
Herkenhoff, Kyle F. - Federal Reserve Bank of St. Louis - 2012
How do job losers use default -- a phenomenon 6x more prevalent than bankruptcy --as a type of “informal" unemployment … such as the Mortgage Servicer Settlement of 2012 or the CARD Act of 2009 improve overall welfare by .1%. The side effect of … the policies, however, is a .2-.5% higher unemployment rate during recessions that persists throughout the recovery. …
Persistent link: https://www.econbiz.de/10011027344
Cover Image
Inflation targeting in a small open economy: empirical results for Switzerland
Dueker, Michael; Fischer, Andreas M. - Federal Reserve Bank of St. Louis - 1995
This paper extends McCallum?s (1987) nominal targeting rule to a small open economy by allowing for feedback from the exchange rate. Instead of setting parameters in a McCallum-type targeting rule and simulating, the parameters are estimated using a markov switching model. We argue that a model...
Persistent link: https://www.econbiz.de/10005360539
Cover Image
Inflation: do expectations trump the gap?
Piger, Jeremy M.; Rasche, Robert H. - Federal Reserve Bank of St. Louis - 2006
We measure the relative contribution of the deviation of real activity from its equilibrium (the gap), “supply shock” variables, and long-horizon inflation forecasts for explaining the U.S. inflation rate in the post-war period. For alternative specifications for the inflation driving...
Persistent link: https://www.econbiz.de/10005360551
Cover Image
Monetary policy neglect and the Great Inflation in Canada, Australia, and New Zealand
Nelson, Edward - Federal Reserve Bank of St. Louis - 2004
This paper studies the Great Inflation in Canada, Australia, and New Zealand. Newspaper coverage and policymakers' statements are used to analyze the views on the inflation process that led to the 1970s macroeconomic policies, and the different movement in each country away from 1970s views. I...
Persistent link: https://www.econbiz.de/10005360570
Cover Image
The great inflation and early disinflation in Japan and Germany
Nelson, Edward - Federal Reserve Bank of St. Louis - 2007
Japan and Germany’s monetary authorities—for example, more willingness to accept temporary unemployment, or greater …
Persistent link: https://www.econbiz.de/10005360572
Cover Image
The cyclical relationship between output and prices: an analysis in the frequency domain
Pakko, Michael R. - Federal Reserve Bank of St. Louis - 1997
Recent research showing negative correlations between detrended output and prices during the postwar period has brought into question the conventional wisdom that prices are procyclical. However, this finding has been shown to be sensitive to the sample period considered. This paper examines the...
Persistent link: https://www.econbiz.de/10005360577
Cover Image
Inflation and economic activity in a multiple matching model of money
Laing, Derek; Li, Victor E.; Wang, Ping - Federal Reserve Bank of St. Louis - 1998
This paper investigates the relationship between money growth, inflation, and productive activity in a general equilibrium model where search frictions motivate the transactions role of money. The use of a multiple matching technique, where search frictions are captured by limited consumption...
Persistent link: https://www.econbiz.de/10005360588
Cover Image
The optimal inflation target in an economy with limited enforcement
Antinolfi, Gaetano; Azariadis, Costas; Bullard, James B. - Federal Reserve Bank of St. Louis - 2007
positive, and the optimum nominal interest rate is higher than the inflation rate, if the social welfare function weighs credit …
Persistent link: https://www.econbiz.de/10005360611
Cover Image
Aggregate price shocks and financial instability: a historical analysis
Bordo, Michael D.; Dueker, Michael J.; Wheelock, David C. - Federal Reserve Bank of St. Louis - 2001
This paper presents empirical evidence on the hypothesis that aggregate price disturbances cause or worsen financial distress. We construct two annual indexes of financial conditions for the United States covering 1790-1997, and estimate the effect of aggregate price shocks on each index using a...
Persistent link: https://www.econbiz.de/10005360618
Cover Image
The link between monetary aggregates and prices
Tatom, John A. - Federal Reserve Bank of St. Louis - 1990
Persistent link: https://www.econbiz.de/10005360621