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Unemployment, factor substitution, and capital formation

Kaas, Leo; Thadden, Leopold von - 2001

, capital, and income shares respond to wage setting shocks and show that adjustment dynamics depend decisively on the magnitude … of the elasticity of substitution between labour and capital. Values of the elasticity below unity add persistence, tend …

Persistent link: https://www.econbiz.de/10011419073

Optimal factor taxation under wage bargaining : a dynamic perspective

Koskela, Erkki; Thadden, Leopold von - 2002

two distinct distortions: i) taxes on capital and labour are the only available tax instruments for raising revenues, and … broad assumptions the two distortions create conflicting demands on the wage tax, while calling for a zero capital tax. By … combining the two distortions, we arrive at the conclusion that both instruments should be used, implying that the zero-capital …

Persistent link: https://www.econbiz.de/10011431853

Monetary and fiscal policy interactions in a new Keynesian model with capital accumulation and non-Ricardian consumers

Leith, Campbell B. (contributor); … - 2006

This paper develops a small New Keynesian model with capital accumulation and government debt dynamics. The paper …

Persistent link: https://www.econbiz.de/10003339189

Should the individual voting records of central bankers be published?

Gersbach, Hans; Hahn, Volker - 2001

We examine whether it is socially beneficial for the individual voting records of central bank council members to be published when the general public is unsure about central bankers' efficiency and central bankers are aiming for re-election. We show that publication is initially harmful since...

Persistent link: https://www.econbiz.de/10011419080

Voting transparency and conflicting interests in central bank councils

Gersbach, Hans; Hahn, Volker - 2001

This paper examines whether it is socially desirable for the individual voting records of central bank council members to be published when central bankers' preferences differ. We show that the misrepresentation of their preferences is not advantageous for central bankers although central...

Persistent link: https://www.econbiz.de/10011419124

Budgetary policy and unemployment dynamics

Kaas, Leo; Thadden, Leopold von - 2001

We consider a dynamic general equilibrium model with collective wage bargaining and investigate how unemployment dynamics are affected by two types of budgetary policies. In line with traditional reasoning, a balanced-budget rule amplifies fluctuations in the short run, whereas an...

Persistent link: https://www.econbiz.de/10011419352

Monetary and fiscal policy rules in a model with capital accumulation and potentially non-superneutral money

Thadden, Leopold von - 2002

intertemporal equilibrium model with capital accumulation and two outside assets (government bonds, fiat money). The paper shows …

Persistent link: https://www.econbiz.de/10011431769

Active monetary policy, passive fiscal policy and the value of public debt : some further monetarist arithmetic

Thadden, Leopold von - 2003

We consider the properties of two monetary policy rules ("strict inflation targeting", "constant money growth rule") in an intertemporal equilibrium model with flexible prices in which monetary policy is "active", while fiscal policy is "passive". Specifically, we assume that the fiscal agent...

Persistent link: https://www.econbiz.de/10011432135