Similar Search Results

The US Inflation-Unemployment Tradeoff: Methodological Issues and Further Evidence

Karanassou, Marika; Sala, Hector - Institute for the Study of Labor (IZA) - 2009

chain reactions, and provides new evidence on the long-run inflation-unemployment tradeoff in the US. It is argued that … inflation/unemployment responses to money growth shocks. SVAR (structural vector autoregression) and GMM (generalised method of … and real sides of the economy are symbiotic. In the light of the significant and robust long-run inflation …

Persistent link: https://www.econbiz.de/10005030883

A Reappraisal of the Inflation-Unemployment Tradeoff

Snower, Dennis; Karanassou, Marika; Sala, Hector - Institute for the Study of Labor (IZA) - 2002

This paper offers a reappraisal of the inflation-unemployment tradeoff, based on "frictional growth" describing the … able to work themselves out fully. In this context, monetary shocks have a gradual and delayed effect on inflation, and …

Persistent link: https://www.econbiz.de/10005761764

The Return of the Long-Run Phillips Curve

Graham, Liam; Snower, Dennis J. - Institute for the Study of Labor (IZA) - 2002

-run inflation-unemployment tradeoff. …

Persistent link: https://www.econbiz.de/10005822071

Hyperbolic Discounting and the Phillips Curve

Graham, Liam; Snower, Dennis J. - Institute for the Study of Labor (IZA) - 2008

hyperbolic discounting leads to inflation having significant long-run effects on real variables. …

Persistent link: https://www.econbiz.de/10005763519

The European Phillips Curve: Does the NAIRU Exist?

Karanassou, Marika; Sala, Hector; Snower, Dennis J. - Institute for the Study of Labor (IZA) - 2003

model, covering a panel of EU countries, and derives the implied long-run inflation-unemployment tradeoff. Our results …

Persistent link: https://www.econbiz.de/10005566739

A Tacit Monetary Policy of the Gulf Countries: Is There a Remittances Channel?

Termos, Ali; Genc, Ismail H.; Naufal, George S - Institute for the Study of Labor (IZA) - 2015

The strong economic ties between the GCC economies and the U.S. are manifested in three ways: currency peg, coupling of monetary policy, and the adoption of the U.S. dollar as the trading currency for oil. This paper examines how these dynamics result in a misalignment of the U.S. monetary...

Persistent link: https://www.econbiz.de/10011202987

Innocent Bystanders? Monetary Policy and Inequality in the U.S.

Coibion, Olivier; Gorodnichenko, Yuriy; Kueng, Lorenz; … - Institute for the Study of Labor (IZA) - 2012

We study the effects and historical contribution of monetary policy shocks to consumption and income inequality in the United States since 1980. Contractionary monetary policy actions systematically increase inequality in labor earnings, total income, consumption and total expenditures....

Persistent link: https://www.econbiz.de/10010884139

Distributional Effects of Macroeconomic Policy Choices in Emerging Market Economies

Prasad, Eswar - Institute for the Study of Labor (IZA) - 2013

Distributional consequences typically receive limited attention in economic models that analyze the effects of monetary and financial sector policies. These consequences deserve more attention since financial markets are incomplete, imperfect, and economic agents' access to them is often...

Persistent link: https://www.econbiz.de/10010885185

Nominal Wage Rigidities in a New Keynesian Model with Frictional Unemployment

Bodart, Vincent; Walque, Gregory De; Pierrard, Olivier; … - Institute for the Study of Labor (IZA) - 2006

In this paper, we propose a search and matching model with nominal stickiness à la Calvo in the wage bargaining. We analyze the properties of the model, first, in the context of a typical real business cycle model driven by stochastic productivity shocks and second, in a fully specified...

Persistent link: https://www.econbiz.de/10005703177

Sequential Bargaining in a New-Keynesian Model with Frictional Unemployment and Staggered Wage Negotiation

De Walque, Gregory; Pierrard, Olivier; Sneessens, Henri; … - Institute for the Study of Labor (IZA) - 2009

period. The workers' bargaining power in the hours negotiation affects both unemployment volatility and inflation persistence … cost determination. This set-up produces realistic labor market statistics together with inflation persistence …

Persistent link: https://www.econbiz.de/10005703208