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In recent years, central bankers throughout the world have advocated that monetary policy shift toward inflation … targeting. Recent actions in the U.S. serve to highlight the desire of the Federal Reserve to keep inflation both low and stable …, while downplaying the likely output and employment consequences. But control of inflation requires both that one be able to …
Persistent link: https://www.econbiz.de/10012473721
This paper evaluates the predictive content of a set of alternative monthly indicators of global economic activity for nowcasting and forecasting quarterly world GDP using mixed-frequency models. We find that a recently proposed indicator that covers multiple dimensions of the global economy...
Persistent link: https://www.econbiz.de/10012482234
mortgages and interest rate dynamics aligns the theory more closely with U.S. observations. Longer time to build in housing …
Persistent link: https://www.econbiz.de/10012460228
in their degree of inflation protection. This paper conducts this exercise from the viewpoint of modem finance theory … inflation protection. A contributing factor is the apparent belief that standardizing actuarial assumptions is sufficient to … ensure comparability, in spite of the fact that risk is ignored and that interest rate and inflation assumptions are …
Persistent link: https://www.econbiz.de/10012478149
France, Italy and Germany corroborates this finding, and we estimate cumulative gains of up to 5 percentage points in … the provincial mandate announcements). We also find large vaccination gains in France (3 to 5 mln first doses), Italy …
Persistent link: https://www.econbiz.de/10012794591
We investigate how labor and investment demand at the firm level (gross as well as net and replacement investment separately) differs in French, German and U.S. manufacturing, and has changed since the 1974-75 crisis. We use three consistent panel data samples of large firms for1970-79, and rely...
Persistent link: https://www.econbiz.de/10012477531
countries are attributed to differences in rates of inflation, actual depreciation,tax parameters, or differences in the amount … of capital in each combination.For each country,we plot the effect of inflation on overall tax rates, and we plot the … distribution of different effective tax rates at a given rate of inflation. We further investigate the sensitivity of results to …
Persistent link: https://www.econbiz.de/10012478030
This working paper presents Chapter 2 of a book that has been submitted to the University of Chicago Press for publication consideration. The point of the book is to compare taxes on income from capital infour countries,accounting for corporate, personal, and property taxes, and including...
Persistent link: https://www.econbiz.de/10012478045
This paper compares and analyzes the growth of productivity in the manufacturing industries and firms in France and the …
Persistent link: https://www.econbiz.de/10012478144
Industrialization experiences differ significantly across countries. We use a bench-mark model of structural change to shed light on the sources of this heterogeneity and, in particular, the phenomenon of premature deindustrialization. Our analysis leads to three key findings. First, benchmark...
Persistent link: https://www.econbiz.de/10012481434