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In this paper Markus Knell studies the determinants of unemployment in a two-country- model, where real wages are the outcome of the strategic interaction between various institutional players (firms, unions, central banks). He shows that: (i) the results derived in the recent literature on this...
Persistent link: https://www.econbiz.de/10013436788
The consequences of government debt on capital formation, financial wealth and labor are investigated in a small open economy with demographic heterogeneity. Two alternative types of demographics are considered: one with intragenerational heterogeneity of the ''savers-spenders'' (SS) type, and...
Persistent link: https://www.econbiz.de/10011597848
inflation-output tradeoffs in foreign recipient economies through the exchange rate and term premium channels. We also show that …
Persistent link: https://www.econbiz.de/10015066986
Using a novel dataset that integrates inflation expectations with information on social network connections, we show … that inflation expectations within one's social network have a positive, causal relationship with individual inflation …, socially determined inflation expectations induce imperfect risk-sharing and can affect the inflation and real output …
Persistent link: https://www.econbiz.de/10015078554
responds to inflation and output volatility, especially during economic crises. This framework offers a promising alternative …
Persistent link: https://www.econbiz.de/10014538995
We analyze the determinants of the inflation trends in ten Southeast European (SEE) countries. Global cost …-related factors and euro area (EA) inflation developments play an important role in explaining inflation dynamics in SEE countries … exchange to euro area market appear to be susceptible to inflation spillovers from the euro area. Moreover, nominal effective …
Persistent link: https://www.econbiz.de/10012124587
Persistent link: https://www.econbiz.de/10003773540
"This paper develops a two-country OLG model under the assumption that investors are on a Bayesian learning path. While investors from both countries receive identical information flows, domestic investors start off with less precise prior beliefs concerning foreign fundamentals. On a learning...
Persistent link: https://www.econbiz.de/10002917587
Who prevails when fiscal and monetary authorities disagree about the value of public expenditure and how much to discount the future? When the fiscal authority sets debt as its main policy instrument it achieves fiscal dominance, rendering the preferences of the central bank, and thus its...
Persistent link: https://www.econbiz.de/10012308453
, effective revenue ceilings induce an increase in deficit, debt and inflation. Under many scenarios, including recurrent adverse …
Persistent link: https://www.econbiz.de/10012137093