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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

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

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

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

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

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

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

PRODUCTIVITY AND JOB FLOWS HETEROGENEITY OF NEW HIRES AND CONTINUING JOBSIN THE BUSINESS CYCLE

Kilponen, Juha; Vanhala, Juuso - European Central Bank - 2009

"unemployment volatility puzzle". We let new matches andcontinuing jobs differ by their productivity levels and by their sensitivity …

Persistent link: https://www.econbiz.de/10005866471

Inflation Persistence and the Phillips Curve Revisited

Karanassou, Marika; Snower, Dennis J. - Forschungsinstitut zur Zukunft der Arbeit <Bonn> - 2007

" although they generate price inertia, they cannot account for thestylised fact of inflation persistence. It is thus commonly … asserted that, in the context of thenew Phillips curve (NPC), inflation is a jump variable... …

Persistent link: https://www.econbiz.de/10005863257

Wirtschaftspolitik zwischen Deflation und Inflation

Spahn, Heinz-Peter - Friedrich-Ebert-Stiftung / Abteilung Wirtschafts- und … - 2009

Die Entschlossenheit der Wirtschaftspolitik,sich mit niedrigen Zinsen undfi skalischen Impulsen gegen dieWeltwirtschaftskrise zu stemmen,provoziert Infl ationsbefürchtungen.Sie beruhen teilweise auf Mißverständnissenhinsichtlich des „Gelddruckens“der Notenbanken. Die Geldpolitikverfügt...

Persistent link: https://www.econbiz.de/10005865943