Showing 1 - 10 of 20
This paper proposes a more general definition of loss avoidance, relates it to fairness and applies it to the labor market. By influencing judgments about what is a fair wage readjustment, it can lead to coordination failures, generating downward nominal wage rigidity (DNWR) and disinflation...
Persistent link: https://www.econbiz.de/10008615623
This paper looks at policies for achieving full and productive employment in Malawi. The polices are consistent with ILO's Global Employment Agenda. Monetary and fiscal policies consistent with employment creation is proposed.
Persistent link: https://www.econbiz.de/10011109346
This paper has provided an empirical evidence to support the existence of the Phillips curve in the case of the Dominican Republic. The Phillips curve is estimated using data over the last forty years and includes a role for supply factors. The most striking feature of the model is the strong...
Persistent link: https://www.econbiz.de/10011109940
We investigate inflation dynamics and the presence of the cost channel in ten emerging markets since the 1990's from the new Keynesian and triangle Phillips curve perspectives. A negative sign on the output gap is a common finding in new Keynesian specifications. This problem may be addressed by...
Persistent link: https://www.econbiz.de/10011109959
We re-estimate statistical properties and predictive power of a set of Phillips curves, which are expressed as linear and lagged relationships between the rates of inflation, unemployment, and change in labour force. For France, several relationships were estimated eight years ago. The change...
Persistent link: https://www.econbiz.de/10011109998
The concept of NAIRU summarized the observed negative correlation between the unemployment rate and the inflation rate for a number of countries. This correlation persuaded some analysts of the impossibility for governments to simultaneously target both low unemployment and price stability....
Persistent link: https://www.econbiz.de/10011112751
We present an empirical analysis on the New Keynesian Wage Phillips Curve (NKWPC), which is derived by Gali (2011) as a micro-founded structural relationship between wage inflation and the unemployment rate under a sticky wage framework using data for Japan and the US. We find that the empirical...
Persistent link: https://www.econbiz.de/10011113247
We document evolving patterns in the inflation-unemployment relationship in Australia in the frequency domain under different monetary policy regimes and labor market regulations. The RBA adopted monetary targeting in 1976 and inflation targeting in 1993. There were important changes in the...
Persistent link: https://www.econbiz.de/10011114212
This paper has provided an empirical evidence to support the existence of the Phillips curve in the case of the Dominican Republic. The Phillips curve is estimated using data over the last forty years and includes a role for supply factors. The most striking feature of the model is the strong...
Persistent link: https://www.econbiz.de/10005034600
The expansionary economic policies of the government and of the central bank (State Bank of Pakistan – SBP), which on one side resulted in impressive economic performance, stimulated a rise in the Consumer Price Index (CPI) on the other. This initiated a debate on the determinants of the...
Persistent link: https://www.econbiz.de/10005079321