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. The paper provides an overview of the new globalization trends in the world and in Israel, with emphasis on the role of … side only. On the demand side, the desire to invest has plunged, while people across the rich world are now saving much of …
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employment fluctuations in the advanced economies, and the convergence of Israel's inflation to the low world inflation rates …
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This paper reviews the analytics of the effects of globalization on the Phillips curve and the utility-based objective function of the central bank. It demonstrates that in an endogenous-policy set up, when trade in goods is liberalized, financial openness increases, and in- and out-labor...
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The paper provides a unified analysis of globalization effects on the Phillips curve and monetary policy, in a New-Keynesian framework. The main proposition of the paper is twofold. Labor, goods, and capital mobility flatten the tradeoff between inflation and activity. If policy makers are...
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