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This paper offers a reappraisal of the inflation-unemployment tradeoff, based on ?frictional growth,? describing the … expectations, there is a long-run inflation-unemployment tradeoff. Our empirical analysis suggests that this Phillips curve may be … reasonably flat. We show that the persistence of inflation and unemployment, in response to monetary policy shocks, is related to …
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The weakness of credit growth in the United States and Europe has given rise to concerns that the financial crisis has led to a credit crunch which has deepened the recession in the real economy and poses a serious threat to the recovery that seems to have started in the most recent months. In...
Persistent link: https://www.econbiz.de/10008495218
This paper examines the movements in EU unemployment from two perspectives: (a) the NRU/NAIRU perspective, in which unemployment movements are attributed largely to changes in the long-run equilibrium unemployment rate and (b) the chain-reaction perspective, in which unemployment movements are...
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Die in der Republik Belarus vor allem auf Betreiben von Präsident Lukaschenko verfolgte Wirtschaftspolitik wird seit Jahren von praktisch allen Beobachtern wegen unverkennbarer Rückschritte zu planwirtschaftlichen Rahmenbedingungen negativ eingeschätzt. Die Kritik kommt von so verschiedenen...
Persistent link: https://www.econbiz.de/10008483830
Aggregate. Die Inflation erreichte mehr als 180 vH. Für 1999 ist damit zu rechnen, daß sich diese Entwicklung noch verschärft …, das BIP in einer Größenordnung von 5 vH sinkt und sich die Inflation wiederum im dreistelligen Bereich bewegen wird. …
Persistent link: https://www.econbiz.de/10008483832