Showing 1 - 10 of 505
We develop a two-sector, heterogeneous-agent model with incomplete financial markets to study the distributional effects and aggregate welfare implications of alternative monetary policy rules in emerging market economies. Relative to inflation targeting, exchange rate management benefits...
Persistent link: https://www.econbiz.de/10011307491
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/10010267340
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/10012270213
Using the Reserve Bank of Australia's MARTIN model we compare actual monetary policy decisions to a counterfactual in which the cash rate is set according to an optimal simple rule. We find that monetary policy played a crucial role in avoiding a potential recession in 2001 and mitigating the...
Persistent link: https://www.econbiz.de/10013426410
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/10005762079
To study whether current spending levels and public knowledge of them contribute to transatlantic differences in policy preferences, we implement parallel survey experiments in Germany and the United States. In both countries, support for increased education spending and teacher salaries falls...
Persistent link: https://www.econbiz.de/10011584672
We study whether providing information about immigrants affects people's attitude towards them. First, we use a large representative cross-country experiment to show that, when people are told the share of immigrants in their country, they become less likely to state that there are too many of...
Persistent link: https://www.econbiz.de/10011653147
Do differences in citizens' policy preferences hamper international cooperation in education policy? To gain comparative evidence on public preferences for education spending, we conduct representative experiments with information treatments in Switzerland using identical survey techniques...
Persistent link: https://www.econbiz.de/10012179942
The share of women in political offices has increased considerably over the past few decades in almost every country in the world. Does this matter for policy outcomes? This is the first paper to provide a literature review on the substantive effects of female representation on policies. In...
Persistent link: https://www.econbiz.de/10012207806
asymmetries and compare the testing procedures. The results indicate that unemployment increases more quickly than it decreases …
Persistent link: https://www.econbiz.de/10010262548