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In this paper we introduce a small Keynesian model of economic growth which is centered around two advanced types of Phillips curves, one for money wages and one for prices, both being augmented by perfect myopic foresight and supplemented by a measure of the medium-term inflationary climate...
Persistent link: https://www.econbiz.de/10010605118
voneinander unterscheidet, dass sich dies im Verlauf des Zusammenhangs von Inflation und Arbeitslosigkeit niederschlägt. Erste … Studie bezieht sich auf die klassische Phillips-Kurve, die den empirischen Zusammenhang zwischen Inflation und … Arbeitslosigkeit untersucht. Von einer Modellierung nach neukeynesianschem Vorbild wird zunächst abgesehen. Die Phillips-Kurve büßte in …
Persistent link: https://www.econbiz.de/10012014418
Persistent link: https://www.econbiz.de/10003176344
reciprocal relationship. The variable considered are: unemployment, inflation, consumptions, investments and current accounts. We … between investment and unemployment, c) we show the revival of the Phillips curve, especially in Germany, d) we test for the … relationship between unemployment and the Government deficit, e) we show the existence of a relationship between unemployment and …
Persistent link: https://www.econbiz.de/10011261122
reciprocal relationship. The variables considered are: unemployment, inflation, consumptions, investments and current accounts …-Okun relationship between investment and unemployment, c) we show the revival of the Phillips curve, especially in Germany, d) we test … for the relationship between unemployment and the Government deficit, e) we show the existence of a relationship between …
Persistent link: https://www.econbiz.de/10010795487
Recent studies have indicated that the terms 'NAIRU' (non-accelerating inflation rate of unemployment) and 'natural … twentieth century. The analysis reveals that the overall inflation-forecasting utility of the natural rate of unemployment … rate of unemployment' are not interchangeable. While NAIRU is an empirical macroeconomic relationship estimated via a …
Persistent link: https://www.econbiz.de/10005835658
inflation and the rate of unemployment are correlated. This paper argues that the relationship is ambiguous. In the aggregate … specification, price as represented by inflation and unemployment as represented by the rate of change in the level of unemployment … Augmented (EA) is able to track a negative relation between inflation and unemployment better than the New Keynesian (NK) is …
Persistent link: https://www.econbiz.de/10011207182
We examine the relationship between inflation and unemployment in the long run, using quarterly US data from 1952 to … Berentsen, Menzio, and Wright (2011): the relationship between inflation and unemployment is positive in the long run. … 2010. Using a band-pass filter approach, we find strong evidence that a positive relationship exists, where inflation leads …
Persistent link: https://www.econbiz.de/10009294948