Narrow search
Showing 1 - 10 of 1,672
Cover Image
Causal effects of monetary shocks: semiparametric conditional independence tests with a multinomial propensity score
Angrist, Joshua D.; Kuersteiner, Guido M. - 2008
dependent data and allowing for first-step estimation of the propensity score. …
Persistent link: https://www.econbiz.de/10010270625
Cover Image
Innocent bystanders? Monetary policy and inequality in the US
Coibion, Olivier; Gorodnichenko, Yuriy; Kueng, Lorenz; … - 2012
We study the effects and historical contribution of monetary policy shocks to consumption and income inequality in the United States since 1980. Contractionary monetary policy actions systematically increase inequality in labor earnings, total income, consumption and total expenditures....
Persistent link: https://www.econbiz.de/10010287628
Cover Image
The role of real wage rigidity and labor market frictions for unemployment and inflation dynamics
Christoffel, Kai; Linzert, Tobias - 2005
cycle model. In particular, we analyze the effect of a monetary policy shock and investigate how labor market frictions … persistent movements of aggregate inflation. Moreover, the impact of a monetary policy shock on unemployment and inflation …
Persistent link: https://www.econbiz.de/10010267287
Cover Image
Monetary policy and Swedish unemployment fluctuations
Alexius, Annika; Holmlund, Bertil - 2007
such as unemployment. Previous studies indicate that monetary policy affects the output gap only at business cycle … preferred model, almost 30 percent of the maximum effect of a shock still remains after ten years. …
Persistent link: https://www.econbiz.de/10010268210
Cover Image
Following Germany's Lead : Using International Monetary Linkages to Identify the Effect of Monetary Policy on the Economy
di Giovanni, Julian; McCrary, Justin; von Wachter, Till - 2005
rates on real output growth for several European countries, using German interest rates as the instrument. We compare this …
Persistent link: https://www.econbiz.de/10010262211
Cover Image
The European Phillips curve: does the NAIRU exist?
Karanassou, Marika; Sala, Héctor; Snower, Dennis J. - 2003
This paper has two aims. First, it provides simple theoretical models that highlight two channels whereby monetary shocks have permanent real effects and the interactions between these channels. Second, it presents an empirical dynamic model, covering a panel of EU countries, and derives the...
Persistent link: https://www.econbiz.de/10010265404
Cover Image
Formal and informal risk sharing in LDCs: theory and empirical evidence
Dubois, Pierre; Jullien, Bruno; Magnac, Thierry - 2007
estimate the model with the use of data from Pakistan villages. Empirical results are consistent with the economic arguments …
Persistent link: https://www.econbiz.de/10010268401
Cover Image
Uniform and nonuniform staggering of wage contracts
Danziger, Leif - 2010
This paper provides a model that can account for the almost uniform staggering of wage contracts in some countries as well as for the markedly nonuniform staggering in others. In the model, short and long contracts as well as long contracts concluded in different periods are strategic...
Persistent link: https://www.econbiz.de/10010269942
Cover Image
Monetary persistence, imperfect competition, and staggering complementarities
Merkl, Christian; Snower, Dennis J. - 2007
This paper explores the influence of wage and price staggering on monetary persistence. We show that, for plausible parameter values, wage and price staggering are complementary in generating monetary persistence. We do so by proposing the new measure of quantitative inertia, after discussing...
Persistent link: https://www.econbiz.de/10010277971
Cover Image
Monetary persistence and the labor market: a new perspective
Lechthaler, Wolfgang; Merkl, Christian; Snower, Dennis J. - 2008
translates to the product market and thus the output effects of the monetary shock become more persistent. Under reasonable …It is common knowledge that the standard New Keynesian model is not able to generate a persistent response in output to … that the employment rate is slow to converge to its steady state value after a monetary shock. The after-effects of a shock …
Persistent link: https://www.econbiz.de/10010278018