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An empirical assessment of the U.S. Phillips curve over time
Vlekke, Marente; Koopman, Siem Jan; Mellens, Martin C. - 2021
We assess the stability of the unemployment gap parameter using linear dynamic Phillips curve models for the United … States. In this study, we allow the unemployment gap parameter to be time-varying such that we can monitor the importance of …
Persistent link: https://www.econbiz.de/10012665848
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Time-varying degree of wage indexation and the New Keynesian Wage Phillips Curve
Attey, Jonathan A. - 2016
Cost-of-Living-Adjustment (COLA) coverage figures suggest a time variation in the degree of wage indexation. In spite of this observation, most current literature conveniently assume a constant degree of indexation as this variable is not directly observable. This study intends to empirically...
Persistent link: https://www.econbiz.de/10011563079
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Behavioral heterogeneity in US inflation dynamics
Cornea, Adriana; Hommes, Cars H.; Massaro, Domenico - 2013
Persistent link: https://www.econbiz.de/10010191432
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Interest rate rules and macroeconomic stability under heterogeneous expectations
Anufriev, Mikhail; Assenza, Tiziana; Hommes, Cars H.; … - 2009
The recent macroeconomic literature stresses the importance of managing heterogeneous expectations in the formulation of monetary policy. We use a stylized macro model of Howitt (1992) to investigate inflation dynamics under alternative interest rate rules when agents have heterogeneous...
Persistent link: https://www.econbiz.de/10011378358
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Monetary policy under behavioral expectations : theory and experiment
Hommes, Cars H.; Massaro, Domenico; Weber, Matthias - 2015
Expectations play a crucial role in modern macroeconomic models. We replace the common assumption of rational expectations in a New Keynesian framework by the assumption that expectations are formed according to a heuristics switching model that has performed well in earlier work. We show how...
Persistent link: https://www.econbiz.de/10011298879
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Posterior-predictive evidence on US inflation using Philips curve models with non-filtered time series
Basturk, Nalan; Çakmaklı, Cem; Ceyhan, Pinar; Dijk, … - 2013
Persistent link: https://www.econbiz.de/10009724100
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Posterior-predictive evidence on US inflation using extended Philips curve models with non-filtered data
Basturk, Nalan; Çakmaklı, Cem; Ceyhan, Pinar; Dijk, … - 2013
Persistent link: https://www.econbiz.de/10010191387
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Regional price adjustment in a monetary union
Berk, Jan Marc; Swank, Job - 2002
Using a New-Keynesian framework, we investigate how far the inflationary processes in member states of EMU cause regional price levels to converge. We fail to produce hard evidence of the present existence of such an adjustment mechanism, notwithstanding that inflation in some countries tends to...
Persistent link: https://www.econbiz.de/10011327545
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Wages and employment in the Netherlands, 2017-2023
Klinker, Iris; Weel, Bas ter - 2024
This research documents changes in employment and wages in the Netherlands for different types of workers. We compare 2017 to 2023 using regression-adjusted wages to make sure changes in composition of the workforce do not influence our estimates. The research period has been characterised by...
Persistent link: https://www.econbiz.de/10014541860
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What goes up sometimes stays up : shocks and institutions as determinants of unemployment persistence
Amisano, Gianni; Serati, Massimiliano - 2002
We analyse the determinants of unemployment persistence in four OECDcountries byestimating a structural Bayesian VAR … with an informative priorbased on an insiders/outsiders model. We explicitly insert unemployment ben-efits and labour taxes … shocks play adominant role in explaining unemployment also in the medium-run. Moreoverreal wages have low sensitivity to …
Persistent link: https://www.econbiz.de/10011327831