Similar Search Results

International Evidence on Sticky Consumption Growth

Carroll, Christopher D. - 2008

We estimate the degree of amp;apos;stickinessamp;apos; in aggregate consumption growth (sometimes interpreted as reflecting consumption habits) for thirteen advanced economies. We find that, after controlling for measurement error, consumption growth has a high degree of autocorrelation, with a...

Persistent link: https://www.econbiz.de/10012772369

Hysteresis and the European Unemployment Problem

Blanchard, Olivier J.; Summers, Lawrence H. - 2021

European unemployment has been steadily increasing for the last 15 years and isexpected to remain very high for many years to come. In this paper, we argue thatthis fact implies that shocks have much more persistent effects on unemployment thanstandard theories can possibly explain. We develop a...

Persistent link: https://www.econbiz.de/10013230402

Mpc Heterogeneity in Europe : Sources and Policy Implications

Ampudia, Miguel - 2018

income ratios by education and country. The policy functions based upon the estimation are used to characterize the …

Persistent link: https://www.econbiz.de/10012910644

Were Trade and Factor Mobility Substitutes in History?

Collins, William J.; O'Rourke, Kevin H.; Williamson, … - 2021

Trade theorists have come to understand that their theory is ambiguous on the question: Are trade and factor flows substitutes? While this sounds like an open invitation for empirical research, hardly any serious econometric work has appeared in the literature. This paper uses history to fill...

Persistent link: https://www.econbiz.de/10013218517

Policy Transferability and Hysteresis : Daily and Weekly Hours in the Brd and the Us

Hamermesh, Daniel S. - 2010

I develop a model with the path of labor-market outcomes exhibiting hysteresis depending on prior labor-market policy …

Persistent link: https://www.econbiz.de/10013139904

Mortgage Prepayment and Path-Dependent Effects of Monetary Policy

Berger, David - 2018

How much ability does the Fed have to stimulate the economy by cutting interest rates? We argue that the presence of substantial debt in fixed-rate, prepayable mortgages means that the ability to stimulate the economy by cutting interest rates depends not just on their current level but also on...

Persistent link: https://www.econbiz.de/10012909504

Inflation and Activity – Two Explorations and Their Monetary Policy Implications

Blanchard, Olivier J. - 2015

-recession trend, suggesting hysteresis. Second, while inflation has decreased, it has decreased less than anticipated, suggesting a …

Persistent link: https://www.econbiz.de/10013011919

Insider-Outsider Labor Markets, Hysteresis and Monetary Policy

Galí, Jordi - 2022

I develop a version of the New Keynesian model with insider-outsider labor markets and hysteresis that can account for … fails to deliver, with the gap between the two increasing in the degree of hysteresis. Two simple targetiing rules are shown …

Persistent link: https://www.econbiz.de/10013307599

Export Entry and Exit by German Firms

Bernard, Andrew B.; Wagner, Joachim - 2021

This paper examines the decision to enter the export market by German firms. While exports have played an important … role in recent German business cycle movements, little is known about the export supply response of German firms. This … paper presents a dynamic model of the export decision by a profit-maximizing firm. Using a panel of German manufacturing …

Persistent link: https://www.econbiz.de/10013228015

Monetary Policy in a Data-Rich Environment

Bernanke, Ben; Boivin, Jean - 2021

Most empirical analyses of monetary policy have been confined to frameworks in which the Federal Reserve is implicitly assumed to exploit only a limited amount of information, despite the fact that the Fed actively monitors literally thousands of economic time series. This article explores the...

Persistent link: https://www.econbiz.de/10013226548

1
2
3
4
5
6
7
8
9
10
Next
Last