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Labor Market Institutions and Demographic Employment Patterns
Bertola, Giuseppe; Blau, Francine D.; Kahn, Lawrence M. - 2021
allows us to control for unmeasured country-specific factors that affect relative employment and unemployment, we find that … of young and older individuals relative to the prime-aged, with no significant effects on the relative unemployment of … raises female unemployment relative to male unemployment. These results suggest that union wage-setting policies price the …
Persistent link: https://www.econbiz.de/10013239343
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Disinflation and the NAIRU
Ball, Laurence - 2021
little direct relation to changes in the NAIRU, but long-term unemployment benefits magnify the effects of disinflation …. These results support `hysteresis' theories of unemployment …
Persistent link: https://www.econbiz.de/10013217602
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Credibility, Debt and Unemployment : Ireland'S Failed Stabilization
Dornbusch, Rudiger - 2021
, but a serious public debt problem has emerged and the unemployment rate stands near 20 percent. This raises questions of …
Persistent link: https://www.econbiz.de/10013247641
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Inflation Targeting
Svensson, Lars E. O. - 2011
Inflation targeting is a monetary-policy strategy that is characterized by an announced numerical inflation target, an implementation of monetary policy that gives a major role to an inflation forecast and has been called forecast targeting, and a high degree of transparency and accountability....
Persistent link: https://www.econbiz.de/10013131986
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How the World Achieved Consensus on Monetary Policy
Goodfriend, Marvin - 2010
This article tells how the world achieved a working consensus on the core principles of monetary policy. The story …
Persistent link: https://www.econbiz.de/10012759712
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Monetary Policy Strategy : How Did We Get Here?
Mishkin, Frederic S. - 2010
that six ideas that are now accepted by monetary authorities and governments in almost all countries of the world have led …
Persistent link: https://www.econbiz.de/10012760655
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Who Adjusts and When? On the Political Economy of Reforms
Alesina, Alberto F.; Ardagna, Silvia; Trebbi, Francesco - 2021
Why do countries delay stabilizations of large and increasing budget deficits and inflation? And what explains the timing of reforms? We use the war of attrition model as a guidance for our empirical study on a vast sample of countries. We find that stabilizations are more likely to occur when...
Persistent link: https://www.econbiz.de/10013225052
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Modern Hyper- and High Inflations
Fischer, Stanley; Sahay, Ratna; Vegh, Carlos A. - 2021
Since 1947, hyperinflations (by Cagan's definition) in market economies have been rare. Much more common have been longer inflationary processes with inflation rates above 100 percent per annum. Based on a sample of 133 countries, and using the 100 percent threshold as the basis for a definition...
Persistent link: https://www.econbiz.de/10013226158
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Inflation Targeting and Sudden Stops
Caballero, Ricardo J.; Krishnamurthy, Arvind - 2021
Emerging economies experience sudden stops in capital inflows. As we have argued in Caballero and Krishnamurthy (2002), having access to monetary policy during these sudden stops is useful, but mostly for insurance' rather than for aggregate demand reasons. In this environment, a central bank...
Persistent link: https://www.econbiz.de/10013237236
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Strategies for Controlling Inflation
Mishkin, Frederic S. - 2021
This paper examines what strategies policymakers have used to both reduce and control inflation. It first outlines why a consensus has emerged that inflation needs to be controlled. Then it examines four basic strategies: exchange rate pegging, monetary targeting, inflation targeting, and the...
Persistent link: https://www.econbiz.de/10013237255