Showing 1 - 10 of 160
inflation, has remained unexplained in terms of its mathematical origins. Keynes had attempted to relate inflation to a … mechanism of "sticky wages and prices". Hitherto, such theories of inflation have remained unproven and disputable. Recently …, during the so-called "New Economy" era, characterized by a spread of electronic transactions and Internet commerce, inflation …
Persistent link: https://www.econbiz.de/10005412616
We analyse the possible impact of EMU enlargement on inflation rates in the accession countries. Using a simple … applied to the enlargement EMU: our findings indicate that (trend) inflation rates in the EMU candidate countries are likely …
Persistent link: https://www.econbiz.de/10005412769
order generator mechanism for cost pressure and inflation. In this working paper the basis and fundamentals of Shannon …
Persistent link: https://www.econbiz.de/10005561278
THIS PAPER DERIVES AND ESTIMATES A BARRO-TYPE REDUCED-FORM EQUATION FOR DOMESTIC REAL OUTPUT FROM A SIMPLE STRUCTURAL MODEL OF AN OPEN DEVELOPING ECONOMY IN WHICH MARKETS CLEAR CONTINUOUSLY AND EXPECTATIONS ARE RATIONAL. THE FORM IN WHICH OPEN ECONOMY VARIABLES APPEARED WAS EXPLICITLY DERIVED...
Persistent link: https://www.econbiz.de/10005561194
In this paper, the evidence collected in the large literature on testing for Granger-causality from money to output is revisited. Using a broad data base of 14 EU-countries plus Canada, the US and Japan, and quarterly data from the mid 60s to the mid 90s, a number of hypotheses from this...
Persistent link: https://www.econbiz.de/10005126173
This work is focused on identifying a circular pull production control system (PPCS) and make emphasis on the presence of a stability attribute. It is an introductory paper to an extended study of macroeconomic financial stability in a physically open but systemic closed system. Previous work...
Persistent link: https://www.econbiz.de/10005126234
The “neoclassical synthesis” sticky price model exhibits strange behavior when augmented with markets for durable goods with flexible prices. While in the data the output of durable goods responds strongly and positively to a loosening of monetary policy, in dynamic general equilibrium...
Persistent link: https://www.econbiz.de/10005076698
In a classical article, Granger (1966) argued that the levels of most economic time series have spectra that exhibit a smooth declining shape with considerable power at very low frequencies. He termed it "the typical spectral shape of an economic variable." Granger's assertion has not been...
Persistent link: https://www.econbiz.de/10005412862
the EMU macroeconomic policies lie in their potential to achieve full employment and low inflation in the euro area. We … today's problems of unemployment and inflation nor promising for the future. We propose alternative policies, and …
Persistent link: https://www.econbiz.de/10005076715
This paper challenges the time-inconsistency case for central bank independence. It argues that the time-inconsistency literature not only seriously confuses the substance of the rules versus discretion debate, but also posits an implausible view of monetary policy. Most worrisome, the...
Persistent link: https://www.econbiz.de/10005561151