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The Political Economy of Fiscal Consolidation in Japan
Ihori, Toshihiro - 2015
This book investigates the reasons for persistent public deficits and delayed fiscal reform in Japan, placing a special … emphasis on political economy aspects. Japan is confronted with the need to pursue fiscal discipline for fiscal consolidation …
Persistent link: https://www.econbiz.de/10012401959
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Money, Stock Prices and Central Banks : A Cointegrated VAR Analysis
Wiedmann, Marcel - 2011
whether liquidity conditions play an important role in stock market developments. As an innovation, liquidity conditions enter … flows, which represent the share of global liquidity that arrives in the respective country. A second aim is to understand …
Persistent link: https://www.econbiz.de/10014015328
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The Impact of Labor Markets on the Transmission of Monetary Policy in an Estimated DSGE Model
Christoffel, Kai Philipp; Kuester, Keith; Linzert, Tobias - 2021
Real wages are a key determinant of marginal costs. The latter themselves are a driving force of inflation. We ask how wages and labor market shocks feed into the inflation process. We model search and matching frictions in the labour market in an otherwise standard New-Keynesian closed economy...
Persistent link: https://www.econbiz.de/10013318057
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Monetary Policy and the German Unemployment Problem in Macroeconomic Models : Theory and Evidence
Gottschalk, Jan (contributor) - 2005
Having the high unemployment in Germany in mind, this book discusses how macroeconomic theory has evolved over the past forty years. It shows that in recent years a convergence has taken place, with modern models embodying a Keynesian transmission mechanism, monetarist policy implication, and...
Persistent link: https://www.econbiz.de/10014014221
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Beyond Cobb-Douglas : Flexibly Estimating Matching Functions with Unobserved Matching Efficiency
Lange, Fabian - 2020
Exploiting results from the literature on non-parametric identification, we make three methodological contributions to the empirical literature estimating the matching function, commonly used to map unemployment and vacancies into hires. First, we show how to non-parametrically identify the...
Persistent link: https://www.econbiz.de/10012835872
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The Effect of Search Frictions on Wages
van den Berg, Gerard J.; van Vuuren, Aico - 2021
Labor market theories allowing for search frictions make marked predictions on the effect of the degree of frictions on wages. Often, the effect is predicted to be negative. Despite the popularity of these theories, this has never been tested. We perform tests with matched worker-firm data. The...
Persistent link: https://www.econbiz.de/10013319882
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Quantitative Easing and Its Impact in the US, Japan, the UK and Europe
Hausken, Kjell - 2013
, Japan, UK and Europe. Using an event-study methodology, the authors find that the measures undertaken by the Federal Reserve … those undertaken by the Bank of Japan and the European Central Bank, which have relied more heavily on lending to private …, UK and Japan. The authors’ analysis finds that QE contributes to the reduction in unemployment in the US and Japan, and a …
Persistent link: https://www.econbiz.de/10014017297
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Interest Rates, Exchange Rates and World Monetary Policy
Floyd, John E. - 2010
U.K., Japan, France and Germany with respect to the United States is conducted. The resulting conclusion is that real …
Persistent link: https://www.econbiz.de/10013521314
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An Econometric Model of the US Economy : Structural Analysis in 56 Equations
Heim, John J. - 2017
This book explores the US economy from 1960 to 2010 using a more Keynsian, Cowles model approach, which the author argues has substantial advantages over the vector autoregression (VAR) and dynamic stochastic general equilibrium (DSGE) models used almost exclusively today. Heim presents a robust...
Persistent link: https://www.econbiz.de/10012398077
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Economic Growth in the Regions of Europe : Theory and Empirical Evidence from a Spatial Growth Model
Sardadvar, Sascha - 2011
1 Introduction -- Part I: Theory of Economic Growth -- 2 Neoclassical Growth Theory and Standard Models -- 3 Growth Models with Spatial Externalities -- 4 Convergence: Theory and Evidence -- Part II: A Model of Regional Growth -- 5 Remarks on Regional Growth -- 6 Structure of the Model -- 7...
Persistent link: https://www.econbiz.de/10014015240