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Inflation Persistence and the Phillips Curve Revisited
Karanassou, Marika; Snower, Dennis J. - Forschungsinstitut zur Zukunft der Arbeit <Bonn> - 2007
A major criticism against staggered nominal contracts is that they give rise to the so called"persistency puzzle" – although they generate price inertia, they cannot account for thestylised fact of inflation persistence. It is thus commonly asserted that, in the context of thenew Phillips curve...
Persistent link: https://www.econbiz.de/10005863257
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Inflation Persistence and the Phillips Curve Revisited
Karanassou, Marika - 2007
A major criticism against staggered nominal contracts is that they give rise to the so called persistency puzzle - although they generate price inertia, they cannot account for the stylised fact of inflation persistence. It is thus commonly asserted that, in the context of the new Phillips curve...
Persistent link: https://www.econbiz.de/10012777470
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Fiscal Policy, Interest Rate Spreads, and the Zero Lower Bound
Bredemeier, Christian - 2015
This paper questions unconventional fiscal policy effects when the monetary policy rate is at the zero lower bound. We provide evidence for the US that the spread between the policy rate and the US-LIBOR, which is more relevant for private sector transactions, increases with government...
Persistent link: https://www.econbiz.de/10013023757
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Design Choices for Central Bank Digital Currency : Policy and Technical Considerations
Allen, Sarah - 2020
Central banks around the world are exploring and in some cases even piloting Central Bank Digital Currencies (CBDCs). CBDCs promise to realize a broad range of new capabilities, including direct government disbursements to citizens, frictionless consumer payment and money-transfer systems, and a...
Persistent link: https://www.econbiz.de/10012827328
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External Monetary Shocks and Monetary Integration : Evidence from the Bulgarian Currency Board
Minea, Alexandru; Rault, Christophe - 2021
Starting July the 1st 1997, Bulgaria adopted a Currency Board (CB) monetary system. This paper aims at investigating if the adoption of the CB monetary system, which involves the cost of loosing monetary autonomy, has provided a relatively better (with respect to other CEEC) monetary integration...
Persistent link: https://www.econbiz.de/10013315999
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Are the East African Community's Countries Ready for a Common Currency?
Kigabo, Thomas; Heshmati, Almas - 2022
This paper investigates the East African Community (EAC) partner states' readiness for a common currency. It uses recent data to assess the impact of policy coordination in the region during the last seven years of East African Monetary Union's protocol implementation. Despite some similarities...
Persistent link: https://www.econbiz.de/10014083749
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Fatter Attraction : Anthropometric and Socioeconomic Characteristics in the Marriage Market
Chiappori, Pierre-Andre - 2011
We construct a matching model on the marriage market along more than one characteristic, where individuals have … women assess each other through an index combining these various attributes, so the matching is one-dimensional. We estimate …
Persistent link: https://www.econbiz.de/10013134105
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Matching with a Handicap : The Case of Smoking in the Marriage Market
Chiappori, Pierre-Andre - 2010
We develop a matching model on the marriage market, where individuals have preferences over the smoking status of … short supply. The model generates clear cut conditions regarding matching patterns. Using CPS data and its Tobacco Use … are satisfied. There are fewer "mixed" couples where the wife smokes than vice-versa, and matching is assortative on …
Persistent link: https://www.econbiz.de/10013134813
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The Importance of Two-Sided Heterogeneity for the Cyclicality of Labour Market Dynamics
Bachmann, Ronald - 2010
Using administrative data on individual workers' employment history and firms, we investigate the cyclicality of worker flows on the German labour market. Focusing on heterogeneities on both sides of the labour market, we find that small firms hire mainly unemployed workers, and that they do so...
Persistent link: https://www.econbiz.de/10013135186
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Panel Data Estimates of the Production Function and Product and Labor Market Imperfections
Dobbelaere, Sabien - 2010
Consistent with two models of imperfect competition in the labor market, the efficient bargaining model and the monopsony model, we provide two extensions of a microeconomic version of Hall's framework for estimating price-cost margins. We show that both product and labor market imperfections...
Persistent link: https://www.econbiz.de/10013138258