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The role of real wage rigidity and labor market frictions for unemployment and inflation dynamics
Christoffel, Kai (contributor); Linzert, Tobias (contributor) - 2005
employment and hours affecting inflation dynamics via marginal costs. We find that the response of unemployment and inflation to … persistent movements of aggregate inflation. Moreover, the impact of a monetary policy shock on unemployment and inflation … ; matching models ; labor market search ; inflation persistence ; real wage rigidity …
Persistent link: https://www.econbiz.de/10003227218
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Distribution and growth in an economy with limited needs
Saint-Paul, Gilles - 2001
This paper studies a model of the distribution of income under bounded needs. Utility derived from any given good reaches a bliss point at a finite consumption level of that good. On the other hand, introducing new varieties always increases utility. It is assumed that each variety is owned by a...
Persistent link: https://www.econbiz.de/10011401020
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Examining the impact of macro-economic conditions on income inequality
Jäntti, Markus; Jenkins, Stephen - 2001
and inflation rates. Building on the lessons from recent advances in time-series econometrics, we suggest instead that one …
Persistent link: https://www.econbiz.de/10011403817
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Innovation, inequality and a golden rule for growth in an economy with Cobb-Douglas function and an R&D sector
Welfens, Paul J. J. - 2015
The innovative approach presented introduces a modified neoclassical growth model which includes a new bias of technological progress in a quasi-endogenous growth model in which part of labor is used in the research & development sector. The combination of a macroeconomic production function and...
Persistent link: https://www.econbiz.de/10010510592
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Capital-labor substitution, structural change and growth
Alvarez-Cuadrado, Francisco; Long, Ngo Van; Poschke, Markus - 2015
There is a growing interest in multi-sector models that combine aggregate balanced growth, consistent with the well-known Kaldor facts, with systematic changes in the sectoral allocation of resources, consistent with the Kuznets facts. Although variations in the income elasticity of demand...
Persistent link: https://www.econbiz.de/10010501861
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Public expenditure, demography and growth : theory and evidence from India
Pranab Kumar Das; Kar, Saibal - 2016
Many countries in the developed world are ageing in terms of their distribution of population. Conversely, a number of countries in the south have younger population. India for example, has 60% of its population in the age group of 15-59, with the mean age close to 27 years as of present times....
Persistent link: https://www.econbiz.de/10011452232
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The impact of inflation targeting on inflation and growth: how robust is the evidence?
Junankar, Pramod N.; Wong, Chun Yee - 2020
This paper evaluates the success of Inflation Targeting on inflation and growth on a large panel data set of both … evidence to show that the support for a successful Inflation Targeting policy is very weak or non-existent. We use various … the process by which inflation targeting is hypothesised to influence inflation and growth, Section 3 surveys this …
Persistent link: https://www.econbiz.de/10012227388
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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
provide partial supporting evidence for the economic theory, which asserts that monetary policy efficiency must fall during …
Persistent link: https://www.econbiz.de/10012549189
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What measure of inflation should a developing country central bank target?
Anand, Rahul; Prasad, Eswar S.; Zhang, Boyang - 2015
In closed or open economy models with complete markets, targeting core inflation enables monetary policy to maximize … is high. We develop an open economy model with incomplete financial markets to show that headline inflation targeting … headline inflation, assigns zero weight to import prices. …
Persistent link: https://www.econbiz.de/10011307888
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Causal effects of monetary shocks : semiparametric conditional independence tests with a multinomial propensity score
Angrist, Joshua D. (contributor);  … - 2008
Macroeconomists have long been concerned with the causal effects of monetary policy. When the identification of causal effects is based on a selection-on-observables assumption, non-causality amounts to the conditional independence of outcomes and policy changes. This paper develops a...
Persistent link: https://www.econbiz.de/10003739948