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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

Are the East African Community's Countries Ready for a Common Currency?

Rusuhuzwa, Thomas Kigabo; 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

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

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

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

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

College Admission as a Screening and Sorting Device

Gandil, Mikkel; Leuven, Edwin - 2022

How can colleges find successful applicants? Criteria such as GPA, interviews, essays, and tests provide information about candidates, but which work and why? We shed light on these questions using unique data on the universe of objective and subjective rankings of all college applicants in...

Persistent link: https://www.econbiz.de/10014076719

International Assortative Matching in the European Labor Market

Peeters, Thomas; Ours, Jan C. van - 2022

We investigate whether national borders within Europe hinder the assortative matching of workers to firms in a high … productivity estimates and study the ensuing rank correlation to gauge the degree of assortative matching within and across … countries. We find strong evidence for positive assortative matching at the national level, and even more so at the …

Persistent link: https://www.econbiz.de/10014077584

Boomerang College Kids : Unemployment, Job Mismatch and Coresidence

Albanesi, Stefania; Gihleb, Rania; Zhang, Ning - 2022

Labor market outcomes for young college graduates have deteriorated substantially in the last twenty five years, and more of them are residing with their parents. The unemployment rate at 23-27 years old for the 1996 college graduation cohort was 9%, whereas it rose to 12% for the 2013...

Persistent link: https://www.econbiz.de/10014078011

Temporary Replacement Workers in a Matching Model with Employment at Will

Garibaldi, Pietro; Gomes, Pedro - 2022

set up a matching model with directed search and double-sided heterogeneity. When a workers is temporarily forced out of …

Persistent link: https://www.econbiz.de/10014078014