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The financial accelerator, wages, and optimal monetary policy
König, Tobias - 2020
shocks and supply shocks inflation stabilization imposes high welfare costs. At the same time, stabilizing nominal wages …
Persistent link: https://www.econbiz.de/10012197901
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Intra-household risk sharing and job search over the business cycle
Wang, Haomin - 2018
This paper studies the extent to which working couples can insure one another against cyclical fluctuations in the labor market and examines the implications of joint household decision-making for cyclical fluctuations in the unemployment rate. For this purpose, I provide a dynamic life-cycle...
Persistent link: https://www.econbiz.de/10011900736
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Structural unemployment and the output gap in Germany : evidence from an SVAR analysis within a hysteresis framework
Fritsche, Ulrich; Logeay, Camille - 2002
line with an insider-outsider model under full hysteresis. We applied a "theory-guided view" to the data using the …
Persistent link: https://www.econbiz.de/10011437007
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The effects of natural disasters on price stability in the euro area
Beirne, John; Dafermos, Yannis; Kriwoluzky, Alexander; … - 2021
estimating the effect on overall headline inflation, we examine effects on its 12 main sub-indices and further sub-categories of … food price inflation. This allows us to disentangle differences in the direction and strength of price effects across … consumption categories. Our results suggest significant positive effects of natural disasters on overall headline inflation, with …
Persistent link: https://www.econbiz.de/10012671834
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Employment gowth, inflation and output growth: was Phillips right? : Evidence from a dynamic panel
Caporale, Guglielmo Maria; Škare, Marinko - 2011
growth, giving support to Phillips' Golden Triangle theory. -- Employment Growth ; Inflation ; Output Growth ; Golden …In this paper we analyse the short- and long-run relationship between employment growth, inflation and output growth in … growth, inflation and output growth with bidirectional causality between employment growth and inflation as well as output …
Persistent link: https://www.econbiz.de/10009487899
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Makroökonomie : Blind Spot Gender : Erweiterung makroökonomischer Indikatoren durch eine Gender-Komponente am Beispiel der empirischen Phillips-Kurve
Holst, Elke; Barth, Denise - 2019
voneinander unterscheidet, dass sich dies im Verlauf des Zusammenhangs von Inflation und Arbeitslosigkeit niederschlägt. Erste … Studie bezieht sich auf die klassische Phillips-Kurve, die den empirischen Zusammenhang zwischen Inflation und …
Persistent link: https://www.econbiz.de/10012014418
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Leading indicators of Euroland business cycles
Fritsche, Ulrich; Marklein, Felix - 2001
The introduction of a common monetary policy in eleven European countries increased the need for leading indicators for that area. A reliable leading indicator should possess the following properties: (1) The movements in the indicator series should resemble those in the business cycle reference...
Persistent link: https://www.econbiz.de/10011433997
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The importance of global shocks for national policymakers : rising challenges for central banks
Belke, Ansgar; Rees, Andreas - 2009
We analyze the importance of global shocks for the global economy and national policy makers. More specifically, we investigate whether monetary policy has become less effective in the wake of financial globalization. We also examine whether there is increasing uncertainty for central banks due...
Persistent link: https://www.econbiz.de/10003879570
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Unconventional fiscal policy in HANK
Seidl, Hannah; Seyrich, Fabian - 2021
In HANK, we show that fiscal policy is an appropriate macroeconomic stabilization tool at the ZLB. Fiscal policy achieves the same macroeconomic aggregates and the same welfare as hypothetically unconstrained monetary policy by replicating its transmission mechanism. Consumption taxes and labor...
Persistent link: https://www.econbiz.de/10012549562
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Unconventional fiscal policy in HANK
Seidl, Hannah; Seyrich, Fabian - 2021 - This version: August 10, 2022
We show that in a New Keynesian model with household heterogeneity, fiscal policy can be a perfect substitute for monetary policy: three simple conditions for consumption taxes, labor taxes, and the government debt level are sufficient to induce the same consumption and labor supply of each...
Persistent link: https://www.econbiz.de/10013342046