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Macroeconomic expectations of households amd professional forecasters
Carroll, Christopher D. - 2002
Economists have long emphasized the importance of expectations in determining macroeconomic outcomes Yet there has been almost no recent effort to model actual empirical expectations data; instead macroeconomists usually simply assume expectations are rational This paper shows that while...
Persistent link: https://www.econbiz.de/10010293441
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The epidemiology of macroeconomic expectations
Carroll, Christopher D. - 2001
explaining the deviations of household inflation and unemployment expectations from the rational expectations benchmark … demographic groups have sharply different predictions for macroeconomic aggregates like the inflation rate …
Persistent link: https://www.econbiz.de/10010293481
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Monetary Policy and Swedish Unemployment Fluctuations
Alexius, Annika; Holmlund, Bertil - 2007
such as unemployment. Previous studies indicate that monetary policy affects the output gap only at business cycle … frequencies, but the effects on unemployment may well be more persistent in countries with highly regulated labor markets. We … study the Swedish experience of unemployment and monetary policy. Using a structural VAR we find that around 30 percent of …
Persistent link: https://www.econbiz.de/10010321638
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Monetary policy and Swedish unemployment fluctuations
Alexius, Annika; Holmlund, Bertil - 2008
such as unemployment. Previous studies indicate that monetary policy affects the output gap only at business cycle … frequencies, but the effects on unemployment may well be more persistent in countries with highly regulated labor markets. We … study the Swedish experience of unemployment and monetary policy. Using a structural VAR we find that around 30 percent of …
Persistent link: https://www.econbiz.de/10010317906
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Money and prices under uncertainty
Nakajima, Tomoyuki; Polemarchakis, Herakles - 2001
Monetary and fiscal policy do not determine the stochastic path of prices: in the absence of financial policy, there remains indeterminacy indexed by an arbitrary probability measure over the set of states of the world. With an interest rate policy, and only if the asset market is complete,...
Persistent link: https://www.econbiz.de/10010318888
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The case for a job guarantee policy in Germany: A political-economic analysis of the potential benefits and obstacles
Landwehr, Jannik J. - 2020
As a bottom-up approach, a Job Guarantee policy can tackle the issue of unemployment on the macroeconomic … case of Germany. A Job Guarantee's impact on inflation depends on excess production capacities of economic sectors as well … even contribute to reaching the inflation target and prevent deflation. However, deficiencies of the European institutional …
Persistent link: https://www.econbiz.de/10012307675
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Symmetrische Regeln und asymmetrisches Handeln in der Geld- und Finanzpolitik
Hoffmann, Andreas; Schnabl, Gunther - 2011
die Rückkehr zu symmetrischen Regeln in der Geld- und Finanzpolitik gefordert. …
Persistent link: https://www.econbiz.de/10010305985
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The dire effects of the lack of monetary and fiscal coordination
Bianchi, Francesco; Melosi, Leonardo - 2017
adamant about preventing a rise in inflation? The large fiscal imbalance brings about inflationary pressures, triggering a … spiral of higher inflation, output contraction, and further debt accumulation. A coordinated commitment to inflate away the …
Persistent link: https://www.econbiz.de/10012030336
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Central Bank Conservatism and Labor Market Reform
Jordahl, Henrik; Laséen, Stefan - 1999
increase in conservatism triggers two opposite effects. It reduces the inflation bias of discretionary monetary policy and … hence the benefits of a reform. It also increases unemployment variability, which increases the precautionary benefits of a …
Persistent link: https://www.econbiz.de/10010321824
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Racial unemployment gaps and the disparate impact of the inflation tax
Ait Lahcen, Mohammed; Baughman, Garth; van Buggenum, Hugo - 2023
, we study the implications of different inflation regimes on the racial unemployment gap. Higher trend inflation increases … facing exogenous differences in the job finding and separation rates. We use our setting to study the racial unemployment gap … two groups both in the level and volatility of unemployment. We show that the racial unemployment gap is counter …
Persistent link: https://www.econbiz.de/10014333776