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The boom-bust cycle in Finland and Sweden 1984-1995 in an international perspective

Jonung, Lars; Schuknecht, Ludger; Tujula, Mika - 2005

This paper compares the boom-bust cycle in Finland and Sweden 1984-1995 with the average boom-bust pattern in … 1980s and 1990s. The boom-bust cycle in Finland and Sweden 1984-1995 was driven by financial liberalization and a hard …

Persistent link: https://www.econbiz.de/10010298327

The role of expectations in economic fluctuations and the efficacy of monetary policy

Kurz, Mordecai; Jin, Hehui; Motolese, Maurizio - 2003

inflation volatility to zero. (iii) The statistical Phillips Curve changes substantially with policy instruments and activist … inflation hence the aggregate price level appears 'sticky' with respect to money shocks. (v) Discretion in monetary policy adds … current effective policy is only mildly activist and aims mostly to target inflation. …

Persistent link: https://www.econbiz.de/10010298249

The diversity of forecasts from macroeconomic models of the U.S. economy

Wieland, Volker; Wolters, Maik H. - 2010

This paper investigates the accuracy and heterogeneity of output growth and inflation forecasts during the current and …

Persistent link: https://www.econbiz.de/10010303756

The mistake of 1931: A general equilibrium analysis

Eggertsson, Gauti B.; Pugsley, Benjamin - 2006

inflation target of the government can lead to large swings in both inflation and output. This effect is much larger at low …

Persistent link: https://www.econbiz.de/10010298355

Identifying the role of labor markets for monetary policy in an estimated DSGE model

Christoffel, Kai; Kuester, Keith; Linzert, Tobias - 2006

wages and labor market shocks feed into the inflation process and derive monetary policy implications. Towards that aim, we …

Persistent link: https://www.econbiz.de/10010298356

Unemployment fluctuation with staggered Nash wage bargaining

Gertler, Mark; Trigari, Antonella - 2006

A number of authors have recently emphasized that the conventional model of unemployment dynamics due to Mortensen and Pissarides has difficulty accounting for the relatively volatile behavior of labor market activity over the business cycle. We address this issue by modifying the MP framework...

Persistent link: https://www.econbiz.de/10010298358

Sticky prices and monetary policy: Evidence from disaggregated US data

Boivin, Jean; Giannoni, Marc P.; Mihov, Ilian - 2006

This paper uses factor-augmented vector autoregressions (FAVAR) estimated using a large data set to disentangle fluctuations in disaggregated consumer and producer prices which are due to macroeconomic factors from those due to sectorial conditions. This allows us to provide consistent estimates...

Persistent link: https://www.econbiz.de/10010298363