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-separability of the utility function, inflation aversion, nominal transaction frictions). The monograph is organized as follows … market share competition with the assumption that agent?s behavior is characterized by inflation aversion. Chapter IV is … devoted to the GMM estimation of crucial parameters of the inflation-aversion model of the previous chapter. A model featuring …
Persistent link: https://www.econbiz.de/10009482289
This paper offers a reappraisal of the inflation-unemployment tradeoff, based on "frictional growth", describing the … permanent nominal rigidities, and no departure from rational expectations, there is a long-run inflation-unemployment tradeoff …. Our analysis suggests that the US experience of the 1990s - in particular, the falling unemployment at moderate inflation …
Persistent link: https://www.econbiz.de/10009441372
Why do dynamic inconsistencies in monetary policy exist? In this paper we present a traditional model with output inefficiencies, but we allow for monetary policy to be influenced by the various constituencies in the economy, that pressure the Congress to in turn pressure the central bank to...
Persistent link: https://www.econbiz.de/10009472582
A high inflation rate is the main obstacle prohibiting euro lead into the state, that‘s why the inflation theme is the … urgent one. We analyzed the inflation not only from the economic perspective, but from the legal side too. The changes of … property forms, legal tends, extent of inflation, form the inflation concepts too. Inflation is an economical process, when …
Persistent link: https://www.econbiz.de/10009478992
This paper uses a structural vector-autoregression approach to discuss the cyclicality of fiscal and monetary policy in South Africa since 1994. There is substantial South African literature on this topic, but much disagreement remains. Though not undisputed, there is growing consensus that...
Persistent link: https://www.econbiz.de/10009480486
Event: Presentation of the Annual Report 2021. Organized by: Banco de España
Persistent link: https://www.econbiz.de/10013205927
Drives Inflation. Chapter IV introduces a second model of a corrupt central banker, one who sells inside information … general seems to increase the inflation rate. My model of the corrupt central banker provides a new explanation of this effect …, that is, that corruption leads to a higher rate of inflation and/or higher seigniorage, will be tested for a cross …
Persistent link: https://www.econbiz.de/10009484798
-Board-Systeme das Zeitinkonsistenzproblem der Geldpolitik lösen, da aufgrund ihrer gesetzlichen Verankerung eine überraschende … Zeitinkonsistenz­problem der Geldpolitik dominant ist, und dies obwohl asymmetrische Schocks nicht stabilisiert werden können. Eine … participating countries. This question is especially interesting from an empirical point of view, as output growth and inflation …
Persistent link: https://www.econbiz.de/10009476166
The purpose of this thesis is to argue that the core of a monetary economy is a network of triangular contracts between banks, firms, workers and capital goods suppliers. Not only does this network give rise to the creation and valuation of money but it is the organising feature of modern...
Persistent link: https://www.econbiz.de/10009465939
unemployment has been contributed to inflation; the word oil price has contributed to inflation, unemployment and the amount of …The purpose ot this study was to analyze the contribution of unemployment, world oil price, gross domestic product, the … amount of current financial circulation, net-government, rate of interest and exchange rate to the inflation in Indonesia …
Persistent link: https://www.econbiz.de/10009464526