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Do Asymmetric Central Bank Preferences Help ExplainObserved Inflation Outcomes?
Doyle, Matthew; Falk, Barry - Iowa State University of Science and Technology <Ames, … - 2006
Recent theoretical work shows that changes in the volatility of inflation and/or unem-ployment affect equilibrium in … propositionthat the volatility of unemployment helps explain inflation outcomes suffers from a spu-rious regression problem. Once this … problem is controlled for, the evidence suggeststhat the volatility of unemployment does not help explain inflation outcomes …
Persistent link: https://www.econbiz.de/10009360871
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National prices and wage setting in a currency union
Sánchez, Marcelo - European Central Bank - 2009
Existing work on wage bargaining (as exemplified by Cukierman and Lippi, 2001) typicallypredicts more aggressive wage setting under monetary union. This insight has not beenconfirmed by the EMU experience, which has been characterised by wage moderation,thereby eliciting criticism from Posen and...
Persistent link: https://www.econbiz.de/10005866574
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Part VII. How Successful Has InflationTargeting Been?
Mishkin, Frederic S.; Posen, Adam Simon - Federal Reserve Bank <New York, NY> - 1997
-term interest rates exhibits a pattern of behaviorafter the adoption of the inflation target that differsmarkedly from the pattern … three inflation targeters we examine.[...] …
Persistent link: https://www.econbiz.de/10005870265
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Macroeconomic Volatilities and the Labor Market:First Results from the Euro Experiment
Merkl, Christian; Schmitz, Tom - Institut zur Zukunft der Arbeit <Bonn> - 2010
This paper analyzes the effects of different labor market institutions on inflation and outputvolatility. The eurozone … use a New Keynesian model with unemployment to predict the effects ofdifferent labor market institutions on macroeconomic … labor market institutions have a large effect on output volatility, they donot seem to have much of an effect on inflation …
Persistent link: https://www.econbiz.de/10009360591
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Hyperbolic Discounting and the Phillips Curve
Graham, Liam; Snower, Dennis J. - Forschungsinstitut zur Zukunft der Arbeit <Bonn> - 2008
hyperbolic discounting leads to inflation having significant long-run effects on real variables... …
Persistent link: https://www.econbiz.de/10005859701
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Declining Caseloads/ Increased Work: What Can We Conclude about theEffects of Welfare Reform?
Blank, Rebecca M. - University of Michigan <Ann Arbor, Mich.> / Department … - 2001
In 1996, Congress passed the Personal Responsibility andWork Opportunity Reconciliation Act, or PRWORA, whichsubstantially restructured public assistance programs.PRWORA gave states almost entire discretion to design andoperate cash assistance programs for families with children,reducing the...
Persistent link: https://www.econbiz.de/10005869878
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Actual Federal Reserve Policy Behavior and Interest Rate Rules
Fair, Ray C. - Yale University <New Haven, Conn.> / Department of Economics - 2001
[...]It seems clear that the Federal Reserve’s policy behavior overthe 1979:4-1982:3 period (which I refer to as the “earlyVolcker” period) differed from that of other periods.1 Thestated policy of the Federal Reserve during this period was tofocus more on monetary aggregates than it had...
Persistent link: https://www.econbiz.de/10005869900
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MONETARY POLICY AND UNEMPLOYMENT
Galí, Jordi - National Bureau of Economic Research <Cambridge, Mass.> - 2010
labor market frictions and unemployment explicitly. The present paper describessome of the essential ingredients and …
Persistent link: https://www.econbiz.de/10005870350
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Arbeitslosigkeit und Steuerpolitik
Kremer, Jana - Universität <Bamberg, 1979 -> / Lehrstuhl für … - 1999
Die Beschäftigungswirkungen von Steuersenkungen und Änderungen der Steuerprogressionwerden in Modellen mit Lohnverhandlungen und Effizienzlöhnen untersucht.Es zeigt sich, daß die betrachteten Standardmodelle die positiven Effekteeiner steileren Steuerprogression überzeichnen;...
Persistent link: https://www.econbiz.de/10005852903
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Unemployment, Technology and the Welfare Effects of Immigration
Kemnitz, Alexander - University <Mannheim> / Department of Economics - 2003
and an unemployment insurancescheme. It is shown that the consequences for the labor market and the welfareof natives …
Persistent link: https://www.econbiz.de/10005853730