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Optimal Monetary Policy and Downward Nominal Wage Rigidity in Frictional Labor Markets.
Abo-Zaid, Salem - Volkswirtschaftliche Fakultät, … - 2009
shows that when nominal wages are downwardly rigid, optimal monetary policy targets a positive inflation rate; the annual … long-run inflation rate is around 2 percent. Positive inflation in this environment “greases the wheels” of the labor …, particularly those of large sizes. Finally, the optimal long-run inflation rate predicted by this study is considerably higher than …
Persistent link: https://www.econbiz.de/10008565428
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DAS MONETÄRE SYSTEM DER REPUBLIK KROATIEN IN DER TRANSITION UND SEIN EINFLUSS AUF DAS SYSTEM DES ÖFFENTLICHEN FINANZEN
Srb, Vladimir; Matić, Branko; Marković, Branimir - Volkswirtschaftliche Fakultät, … - 1999
The paper delineates the properties and specificities of modern Croatian money-market transactions and their transition as well as the Solutions applied in this segment by the Republic of Croatia from the moment of declaration ofits in dependence up to nowadays. Such a contemporary monetary...
Persistent link: https://www.econbiz.de/10005836396
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让实体经济和虚拟经济的耦合协调度最优
Tang, Linyao - Volkswirtschaftliche Fakultät, … - 2009
Abstract: Ever since the separation of the loan capital from the commercial capital and the industrial capital, the virtual economy has been generated and expanded gradually along with the economic development. The virtual economy is a double-edged sword: on one hand, it promotes the development...
Persistent link: https://www.econbiz.de/10008685036
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Did Greenspan Open Pandora's Box? Testing the Taylor Hypothesis and Beyond
Palma, Nuno - Volkswirtschaftliche Fakultät, … - 2013
The Taylor hypothesis is the conjecture that the 2007-2009 financial crisis and the 2008-present downturn have been caused by loose monetary policy during 2002-2006. According to the Taylor hypothesis the Fed deviated from well-know rules of monetary policy-making over this period, and this...
Persistent link: https://www.econbiz.de/10011107274
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Monetary policy rules and indterminacy
Sosunov, Kirill; Khramov, Vadim - Volkswirtschaftliche Fakultät, … - 2008
In recent papers it is shown that in the presence of price stickiness, investment and capital accumulation activity, active monetary policy (MP) rules can lead to indeterminacy under various assumptions about the structure of the model. We analyze the conditions for real indeterminacy to occur...
Persistent link: https://www.econbiz.de/10005789610
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Debt, equity and income: the limits to the freedom of choice in an economy
De Koning, Kees - Volkswirtschaftliche Fakultät, … - 2013
to save more and reduce their borrowing levels. They were also confronted by income growth below inflation levels …
Persistent link: https://www.econbiz.de/10011259129
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Excess Reserves, Monetary Policy and Financial Volatility
Primus, Keyra - Volkswirtschaftliche Fakultät, … - 2013
response to changes in excess re- serves reduces volatility in output and inflation but increases fluctuations in financial …
Persistent link: https://www.econbiz.de/10011259274
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Open-Market Operations, Asset Distributions, and Endogenous Market Segmentation
Mahmoudi, Babak - Volkswirtschaftliche Fakultät, … - 2013
This paper investigates the long-run effects of open-market operations on the distributions of assets and prices in the economy. It offers a theoretical framework to incorporate multiple asset holdings in a tractable heterogeneous-agent model, in which the central bank implements policies by...
Persistent link: https://www.econbiz.de/10011259616
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Policy Tradeoffs in an Open Economy and the Role of G-20 in Global Macroeconomic Policy Coordination
Sengupta, Rajeswari; Sen Gupta, Abhijit - Volkswirtschaftliche Fakultät, … - 2013
In this paper we investigate the different nuances of India’s capital account management through empirical analyses as well as descriptive discussions. In particular we study the evolution of the capital control regime in India since 1991, and explore the rationale behind liberalizing certain...
Persistent link: https://www.econbiz.de/10011259689
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Card versus cash: empirical evidence of the impact of payment card interchange fees on end users’ choice of payment methods
Ardizzi, Guerino - Volkswirtschaftliche Fakultät, … - 2013
Interchange fees in card payments are a mechanism to balance costs and revenues between banks for the joint provision of payment services. However, such fees represent a relevant input cost used as a reference price for the final fee charged to the merchants, who may be reluctant to accept cards...
Persistent link: https://www.econbiz.de/10011259691