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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
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
The main objective of this study is to investigate the long run trade-off between unemployment and inflation in Egypt … analysis confirm a positive relationship between changes in inflation rate and unemployment gap in the long run, which is … consistent with “Locus Critique” where a policy of inflation would fail to reduce the unemployment rate in the long run, because …
Persistent link: https://www.econbiz.de/10011108182
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
In a period of mainstream economic models failing to explain macroeconomic processes and individual economic behaviors, is necessary to reconsider dominant economic models by approaching with a higher accuracy the economic reality. The paper is proposing to contribute to Homo Oeconomicus...
Persistent link: https://www.econbiz.de/10011184496
evidence for a reaction of wage growth to unemployment and productivity growth. The degree of real wage flexibility tends to be …. There exists an inflation threshold, below which real wage flexibility is low. We also find that a part of the heterogeneity … in real wage flexibility and unemployment may be related to differences in the wage bargaining institutions. …
Persistent link: https://www.econbiz.de/10011194164
No abstract.
Persistent link: https://www.econbiz.de/10010818434
model does a good job of accounting for the joint behavior of labor and goods markets, as well as inflation, during the … capital played critical roles in accounting for the small size of the drop in inflation that occurred during the Great …
Persistent link: https://www.econbiz.de/10010787055
inflation and unemployment in the long run, using quarterly US data from 1952 to 2010, and state-of-the art econometric methods … relationship between inflation and unemployment is positive in the long run. …. Using a band-pass filter approach, we find strong evidence that a positive relationship exists, where inflation leads …
Persistent link: https://www.econbiz.de/10010907072