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Exchange Rate Volatility Effects on the German Labour Market: A Survey of Recent Results and Extensions
Buscher, Herbert S.; Mueller, Claudia - 1999
In this paper, a survey on theoretically expected and empirically proved impacts of exchange rate volatility is given …. With regard to the West German unemployment, the effects of volatility are empirically analysed using three different … volatility measures and four country groups. In autoregressive models, a significant disturbing impact of volatility can be found …
Persistent link: https://www.econbiz.de/10010262270
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The Effects of European Economic and Monetary Union on Wage Behaviour
Lauer, Charlotte - 1999
This paper evaluates the possible consequences of the forthcoming European and Monetary Union on wage behaviour. It will be shown that EMU does not influence wage policy directly, but rather indirectly through its implications on other areas of economic policy, predominantly on monetary policy....
Persistent link: https://www.econbiz.de/10010262269
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The Role of the Exchange Rate Regime in the Process of Real and Nominal Convergence
D'Adamo, Gaetano; Rovelli, Riccardo - 2013
-S type of regression for each regime. Our results show that, for countries which pegged to or adopted the euro, the effect of … conclude that, in a catching-up country, premature euro adoption may foster excess inflation, beyond that which is to be …
Persistent link: https://www.econbiz.de/10010328933
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The Role of the Exchange Rate Regime in the Process of Real and Nominal Convergence
D'Adamo, Gaetano; Rovelli, Riccardo - Institute for the Study of Labor (IZA) - 2013
-S type of regression for each regime. Our results show that, for countries which pegged to or adopted the euro, the effect of … conclude that, in a catching-up country, premature euro adoption may foster excess inflation, beyond that which is to be …
Persistent link: https://www.econbiz.de/10011128045
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Distributional Effects of Monetary Policy in Emerging Market Economies
Prasad, Eswar; Zhang, Boyang - 2015
households are worse off due to higher consumption volatility. A fixed exchange rate reduces the welfare of these households and …
Persistent link: https://www.econbiz.de/10011307491
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The impact of labor markets on the transmission of monetary policy in an estimated DSGE model
Christoffel, Kai; Kuester, Keith; Linzert, Tobias - 2005
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
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Design Choices for Central Bank Digital Currency: Policy and Technical Considerations
Allen, Sarah; Capkun, Srdjan; Eyal, Ittay; Fanti, Giulia; … - 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/10012270213
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Assessing Australian Monetary Policy in the Twenty-First Century
Gross, Isaac; Leigh, Andrew - 2022
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
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The Impact of Labor Markets on the Transmission of Monetary Policy in an Estimated DSGE Model
Christoffel, Kai; Kuester, Keith; Linzert, Tobias - Institute for the Study of Labor (IZA) - 2005
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
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The Effects of European Economic and Monetary Union on Wage Behaviour
Lauer, Charlotte - Institute for the Study of Labor (IZA) - 1999
This paper evaluates the possible consequences of the forthcoming European and Monetary Union on wage behavior. It will be shown that EMU does not influence wage policy directly, but rather indirectly through its implications on other areas of economic policy, predominantly on monetary policy....
Persistent link: https://www.econbiz.de/10005762303