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How are inflation and unemployment related in the long run? Are they negatively correlated, as in the so-called naive … in his Nobel lecture? <p> In this paper inflation is introduced into a general equilibrium search unemployment model. We … source of inflation. …
Persistent link: https://www.econbiz.de/10011019058
In times of inflation, most existing systems of taxation introduce new distortions into the allocation of resources. In … this paper, the effects of inflation via taxes on the firm's east of capital are analyzed. The taxes considered are the …, where market rates of return are adjusted for inflation. This makes it possible to determine the net effects of inflation on …
Persistent link: https://www.econbiz.de/10011019062
stable coinage with respect to weight and fineness, and no long-term inflation; 2) short-term disturbances in the velocity of …
Persistent link: https://www.econbiz.de/10010611593
No abstract.
Persistent link: https://www.econbiz.de/10010684516
No abstract.
Persistent link: https://www.econbiz.de/10010684537
No abstract.
Persistent link: https://www.econbiz.de/10010818434
Many countries have undertaken central-bank independence reforms, but the years of implementation differ. What explains such differences in timing? This is of interest more broadly, as it sheds light on factors that matter for the speed at which economic reforms come about. We study a rich set...
Persistent link: https://www.econbiz.de/10011115518
Central banks have been made more independent in many countries. A common rationale has been the existence of a credibility (or lack-of-trust) problem for monetary policy. This indicates a possible and until now unexplored link between social trust and central-bank independence. Our empirical...
Persistent link: https://www.econbiz.de/10010699278
While previous research documents a negative relationship between government size and economic growth, suggesting an economic cost of big government, a given government size generally affects growth differently in different countries. As a possible explanation of this differential effect, we...
Persistent link: https://www.econbiz.de/10010945001
Swedish Manufacturing Industry is said to be technologically and commercially in good shape. While Swedish wage levels were higher than in all industrial countries in the mid-70s, wages - expressed in international currencies - have now dropped to a mid-position, and real rates of return are...
Persistent link: https://www.econbiz.de/10011019043