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Persistent link: https://www.econbiz.de/10002470757
slowdown was largely offset by faster growth in employment per capita, leaving little difference in growth of output per capita … between the EU and US going back to 1980. This paper is about the strong negative tradeoff between productivity and employment … between productivity and employment growth, and we show that there is a robust negative correlation between productivity and …
Persistent link: https://www.econbiz.de/10003676359
We tackle two questions in this paper: In the sovereign debt crisis, what moves the euro area inflation outlook and has the firm anchoring of medium to long-term inflation expectations been touched? Deriving densities from a new data set on options on the euro area harmonized index of consumer...
Persistent link: https://www.econbiz.de/10010415789
Persistent link: https://www.econbiz.de/10002185381
Persistent link: https://www.econbiz.de/10002172508
We assess the macroeconomic effects of the Eurosystem's asset purchases on the four largest euro area economies using simulation exercises that combine unconventional monetary policy shocks with a fixed policy rate for the duration of the purchase programme. We identify unconventional monetary...
Persistent link: https://www.econbiz.de/10012222564