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suggests that the phenomena of comparison and habituation are actually found in a considerable variety of economic and social …
Persistent link: https://www.econbiz.de/10009294836
-run inflation-unemployment tradeoff. …
Persistent link: https://www.econbiz.de/10005822071
Labor market frictions are not the only possible factor responsible for high unemployment. Credit market imperfections … European and US unemployment differ so much when labor markets have become more similar at the margin in Europe and the US. To …
Persistent link: https://www.econbiz.de/10005822324
Using a standard dynamic general equilibrium model, we show that the interaction of staggered nominal contracts with hyperbolic discounting leads to inflation having significant long-run effects on real variables.
Persistent link: https://www.econbiz.de/10005763519
such as unemployment. Previous studies indicate that monetary policy affects the output gap only at business cycle … frequencies, but the effects on unemployment may well be more persistent in countries with highly regulated labor markets. We … study the Swedish experience of unemployment and monetary policy. Using a structural VAR we find that around 30 percent of …
Persistent link: https://www.econbiz.de/10005763620
The Friedman rule states that steady-state welfare is maximized when there is deflation at the real rate of interest. Recent work by Khan et al (2003) uses a richer model but still finds deflation optimal. In an otherwise standard new Keynesian model we show that, if households have hyperbolic...
Persistent link: https://www.econbiz.de/10009021640
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
This paper offers a reappraisal of the inflation-unemployment tradeoff, based on "frictional growth" describing the … these shocks also generate plausible impulse-responses for unemployment. Although our theory contains no money illusion, no …
Persistent link: https://www.econbiz.de/10005761764
immigrants who intramarry other immigrants in Sweden. We conduct the same analyses on three subsamples: labour migrants, refugees … Sweden. They also fully support the selection hypothesis for labour and family migrants but only partially for refugees …
Persistent link: https://www.econbiz.de/10010884098
Sweden has made its labour market more open for labour immigration since the mid1990s: becoming member of the common … rather stable in the years after the crisis in 2008. The main explanation is most likely that the recession in Sweden was … were employed. If the present EMU crisis is spreading to Sweden the result may of course be different. …
Persistent link: https://www.econbiz.de/10010959693