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The aim of this overview article is to examine and assess monetary issues crucial for the Economic and Monetary Union (EMU) entry strategy. The optimum currency area (OCA) criteria are not used in assessing Polish suitability for the EMU, as they were not decisive in the process of the EMU...
Persistent link: https://www.econbiz.de/10011109218
intensive forms of industry. Hamilton’s analyses of price and wage data for 16th- and 17th-century Spain, France, and England …). But they had to rely on the same dubious and indeed often untrustworthy price and wage data for England and France (and of …
Persistent link: https://www.econbiz.de/10005836522
key interest rate on three occasions during the 7 months of 2014. The Central Bank has been coming in for criticism for … such an increase. However, this criticism is unfair, as sometimes interest rate reduction or failure to raise interest rate …
Persistent link: https://www.econbiz.de/10011109596
criticism for such an increase. However, this criticism is unfair, as sometimes interest rate reduction or failure to raise …
Persistent link: https://www.econbiz.de/10011110135
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
restructuring arises as an integral part of capital accumulation. On the aggregate level, inflation appears as stagflation, with the … modest stagflation, whereas the second, post-1970 regime consisted of stable (or even declining) concentration amidst severe … stagflation. …
Persistent link: https://www.econbiz.de/10005789620
A model is analyzed in which workers' efforts depend positively on the real wage and the unemployment rate. Due to isoelastic demand and constant marginal cost it is optimal for firms to set the output price as a fixed markup over the nominal wage. When demand shocks occur, firms' first response...
Persistent link: https://www.econbiz.de/10005260207
The fundamental purpose of this paper is to identify the nature of impulse mechanism, from which random shocks to general price and income levels are generated. In recent business cycle literature, it is generally accepted that business cycles are triggered by random productivity and technology...
Persistent link: https://www.econbiz.de/10005789898
The paper provides an alternative view to the Real and New Keynesian business cycle theories. The paper focuses on the combination of both real and nominal variables in explaining the cyclical movements of business cycles. We propose using Vector Autoregressive (VAR) technique on the production...
Persistent link: https://www.econbiz.de/10008514891
. The relationship obtained for France is characterized by A0=-1, A1=4, A2=0.095, t0=4 years, and t1=4 years. For GDP … Banque de France monetary policy introduced in 1995 does not disturb the long-term links. All the individual relationships … results obtained in the regression study. The VECM approach also allows re-estimation of the coefficients in the individual …
Persistent link: https://www.econbiz.de/10005835964