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Acocella, Nicola; Bartolomeo, Giovanni Di - EconWPA - 2003

In this paper we consider a standard policy game between the Government and a union. In such a framework, we first investigate the effects of corporatism on macroeconomic performance vis-à-vis different kinds of non-co-operative equilibria. Afterwards, we introduce in the literature the issue...

Persistent link: https://www.econbiz.de/10005076716

Heterogeneous Consumers, Demand Regimes, Monetary Policy Efficacy and Determinacy

Bartolomeo, Giovanni Di; Rossi, Lorenza - EconWPA - 2005

The aim of this paper is to investigate both the efficacy and the stability properties of monetary policy rules in presence of heterogeneous consumers. We aim to underline the link between the well- known Taylor Principle and the demand-policy regimes, defined on the basis of the monetary policy...

Persistent link: https://www.econbiz.de/10005076757

The Fed’s Consistent Monetary Policy: A Long Term Perspective

Los, Cornelis A. - EconWPA - 2004

This paper describes the Federal Reserve's analytical framework under Volcker and Greenspan, as it was constructed in the early 1980s, during a period of high inflation. It traces the modeling and policy implications of this framework. It discusses the Fed's actual track record and the state of...

Persistent link: https://www.econbiz.de/10005076785

An Investigation of the Gains from Commitment in Monetary Policy

Schaumburg, Ernst; Tambalotti, Andrea - EconWPA - 2003

This paper proposes a simple framework for analyzing a continuum of monetary policy rules characterized by differing degrees of credibility, in which commitment and discretion become special cases of what we call quasi commitment. The monetary policy authority is assumed to formulate optimal...

Persistent link: https://www.econbiz.de/10005076809

A Preliminary Evaluation of Monetary Policy Rules for Russia

Souza, Lucio Vinhas de - EconWPA - 2004

The paper reviews the recent conduct of monetary policy and the central bank’s rule-based behavior in Russia. Using different policy rules, we test whether the central bank in Russia reacts to changes in inflation, output gap and the exchange rate in a consistent and predictable manner. Our...

Persistent link: https://www.econbiz.de/10005076844

Macroeconomic co-ordination as an economic policy concept - opportunities and obstacles in the EMU

Hein, Eckhard; Truger, Achim - EconWPA - 2004

-)Keynesian analysis is presented as a growth and employment-oriented alternative to this restrictive policy mix. Contrary to the strict … alternative requires the co-ordination of monetary, fiscal and wage policies in order to achieve growth, high employment and price …

Persistent link: https://www.econbiz.de/10005126124

Buffer funding of unemployment insurance in a dynamic labour union model

Halko, Marja-Liisa - EconWPA - 2004

In this paper we study the implications of the unemployment insurance (UI) financing system on wage levels and employment when labour markets are unionised and the revenues of the firms are stochastic. We use the basic monopoly union approach of wage and employment determination and assume that...

Persistent link: https://www.econbiz.de/10005126130

Guidelines for sustained growth in the EU? The concept and consequences of the Broad Economic Policy Guidelines

Hein, Eckhard; Niechoj, Torsten - EconWPA - 2005

-member countries to the European growth and employment problems. These guidelines have been the major EU-economic policy concept for … 1990s. However, this concept has not been able to generate sustained growth and low unemployment in the EU as a whole … promises more growth and employment for Europe in the long run. …

Persistent link: https://www.econbiz.de/10005126214

Controllability and non-neutrality of economic policy: The Tinbergen’s approach in a strategic context

Acocella, Nicola; Bartolomeo, Giovanni Di - EconWPA - 2005

In the last 20 years issues of policy effectiveness and neutrality (notably with reference to monetary policy) have been increasingly raised in the context of static LQ (linear-quadratic) policy games. The general conditions ensuring policy non-neutrality in a strategic environment remains...

Persistent link: https://www.econbiz.de/10005126233

Factores que inciden sobre la posibilidad de una desaceleración económica y objetivos de política económica en Puerto Rico

Rodríguez, Carlos A. - EconWPA - 2004

, Economic Growth). …

Persistent link: https://www.econbiz.de/10005126319