Narrow search
Showing 1 - 10 of 695
Cover Image
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
Cover Image
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
Cover Image
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
Cover Image
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
Cover Image
The cost channel effect of monetary transmission : how effective is the ECB's low interest rate policy for increasing inflation?
Schäfer, Dorothea; Stephan, Andreas; Hoang, Khanh Trung - 2017 - This version: March 29, 2017
cost channel theory. Taken together, the results of both panel data and time series analyses imply that the ECB’s low … interest rate policy has worked better for boosting inflation in Italy and Spain than in Germany. …
Persistent link: https://www.econbiz.de/10011630975
Cover Image
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
Cover Image
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
Cover Image
A HANK2 model of monetary unions
Bayer, Christian; Kriwoluzky, Alexander; Müller, Gernot J. - 2023
How does a monetary union alter the impact of business cycle shocks at the household level? We develop a Heterogeneous Agent New Keynesian model of two countries (HANK2) and show in closed form that a monetary union shifts the adjustment to a shock horizontally - across countries - within the...
Persistent link: https://www.econbiz.de/10014305671
Cover Image
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
Cover Image
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