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In a 2-country monetary union, this paper studies a Stackelberg game be- tween the Central Banker and two symmetrical countries. The central banker chooses the money supply. In each country, there is a union who acts as a monopoly of labor supply. Firms are wage and price takers. We analyze the...
Persistent link: https://www.econbiz.de/10011260697
Although the Bank of Canada admits asset prices are considered in its policy deliberations because of their effects on inflation or output gap, the Bank of Canada denies trying to stabilize asset prices around fundamental values. However, since the start of the Bank of Canada we have seen a boom...
Persistent link: https://www.econbiz.de/10008788789
The last decade has seen a worldwide move by emerging markets to adopt explicit or implicit inflation targeting regimes. A notable and often discussed exception to this trend, of course, is China which follows pegged exchange rate regime supported by capital controls. Another major exception is...
Persistent link: https://www.econbiz.de/10009004833
We model the rate of inflation and unemployment in Austria since the early 1960s within the Phillips/Fisher framework … macroeconomic variable was first tested as a predictor of inflation and unemployment in 2005 with the involved time series ended in … relationships between inflation, unemployment, and labour force. As before, a structural break is allowed in these relationships …
Persistent link: https://www.econbiz.de/10011110150
economic crisis through the unemployment rates. …
Persistent link: https://www.econbiz.de/10005837272
, in many African countries, unemployment rates are low and growth is seldom jobless. Regrettably, most of the poor work … long hours and cannot make ends meet while the violation of basic human rights is not uncommon. Again, youth unemployment …
Persistent link: https://www.econbiz.de/10011107833
and lagged relationships between the rates of inflation, unemployment, and change in labour force. For France, several … unemployment within the Phillips curve framework. Following the original problem formulation by Fisher and Phillips, the set of … study has validated the reliability and accuracy of the linear and lagged relationships between inflation, unemployment, and …
Persistent link: https://www.econbiz.de/10011109998
After more than two decades of inflation targeting in the world, it is important to evaluate if the adoption of this regime in a relevant developing country contributed to the creation of a better environment for the process of entrepreneurs' expectations formation. Brazil is part of an...
Persistent link: https://www.econbiz.de/10011271311
This study presents a small New Keynesian model of Israel’s economy describing the relationships among the main variables relevant to the transmission mechanism of monetary policy. The model encompasses three structural equations––for inflation, the output gap, and the exchange...
Persistent link: https://www.econbiz.de/10005616799
Although the Bank of Canada admits asset prices are considered in its policy deliberations because of their effects on inflation or output gap, the Bank of Canada denies trying to stabilize asset prices around fundamental values. However, since the start of the Bank of Canada we have seen a boom...
Persistent link: https://www.econbiz.de/10008794669