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Bubble economics and structural change : the cases of Spain and France compared

Agnese, Pablo; Hromcová, Jana - 2015

This paper delves into the recent events that led to the formation of the housing bubble in Spain and the resulting … with different equilibria descriptive of the labor markets in Spain and France, where the unemployment rates went from the … unemployment rate in Spain has jumped to much higher levels while switching between equilibria or, what is the same, because of …

Persistent link: https://www.econbiz.de/10010502798

Interest rate hysteresis in macroeconomic investment under uncertainty

Belke, Ansgar; Göcke, Matthias - 2019

The interest rate is generally considered as an important driver of macroeconomic investment. As an innovation, this paper derives the exact shape of the "hysteretic" impact of changes in the interest rate on macroeconomic investment under the scenarios of both certainty and uncertainty. We...

Persistent link: https://www.econbiz.de/10012099522

Interest rate bands of inaction and play-hysteresis in domestic investment : evidence for the Euro area

Belke, Ansgar; Frenzel Baudisch, Coletta; Göcke, Matthias - 2019

The interest rate represents an important monetary policy tool to steer investment in order to reach price stability. Therefore, implications of the exact form and magnitude of the interest rate-investment nexus for the European Central Bank's effectiveness in a low interest rate environment...

Persistent link: https://www.econbiz.de/10012099559

Distributional effects of monetary policy in emerging market economies

Prasad, Eswar S.; Zhang, Boyang - 2015

We develop a two-sector, heterogeneous-agent model with incomplete financial markets to study the distributional effects and aggregate welfare implications of alternative monetary policy rules in emerging market economies. Relative to inflation targeting, exchange rate management benefits...

Persistent link: https://www.econbiz.de/10011309046

The recovery from the Great Recession: a long, evolving expansion

Shambaugh, Jay C.; Strain, Michael R. - 2021

Prior to 2020, the Great Recession was the most important macroeconomic shock to the United States economy in generations. Millions lost jobs and homes. At its peak, one in ten workers who wanted a job could not find one. On an annual basis, the economy contracted by more than it had since the...

Persistent link: https://www.econbiz.de/10012405441

Monetary policy, growth and employment in developing areas : a review of the literature

Junankar, Pramod N. - 2019

In this paper we review the literature on the impact that monetary policy has on growth and employment in developing countries. Much of the literature focusses on the impact of monetary policy on inflation levels and inflation volatility, and sometimes on output (GDP) levels and volatility of...

Persistent link: https://www.econbiz.de/10011988624

Effectives of monetary policy under the high and low economic uncertainty states: evidence from the major Asian economies

Balcilar, Mehmet; Ozdemir, Zeynel Abidin; Ozdemir, Huseyin - 2021

This study examines the monetary policy effectiveness of five major Asian countries (China, Hong Kong, India, Japan, and South Korea) using a quantile vector autoregression (QVAR) model-based spillover estimation approach of Balcilar et al. (2020b) at different quantile paths. To do this, we...

Persistent link: https://www.econbiz.de/10012549189

Long-run inflation-unemployment dynamics : the Spanish Phillips curve and economic policy

Karanassou, Marika; Sala, Hector; Snower, Dennis J. - 2002

-unemployment tradeoff for Spain and examine how recent policy changes have affected it. …

Persistent link: https://www.econbiz.de/10011415090

A Kaldor matching model of real wage declines

Sattinger, Michael - 2001

A model linking macroeconomic phenomena and income distribution in balanced growth equilibria is developed as a variant to the Kaldor model of factor shares. It departs from the original Kaldor model in assuming equal savings rates and production determined by a matching process between workers...

Persistent link: https://www.econbiz.de/10011403982

Corporate disclosure, compliance and consequences : evidence from Russia

Banerjee, Suman; Estrin, Saul; Pal, Sarmistha - 2022

Does the introduction of corporate transparency and disclosure rules in emerging economies affect compliance, and therefore earnings quality and firm performance? We explore these questions for an important emerging economy, Russia, using a natural experiment, the 2002 introduction of Russian...

Persistent link: https://www.econbiz.de/10013163548

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