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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
-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
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
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
that there exists a degree of trade-off between inflation and unemployment. However, since persistent and soaring inflation …This paper examines the major causes of Iran’s unemployment conundrum using a simultaneous-equation model and annual … time series data from 1968 to 2000. It is found that the rate of unemployment responds positively to output gap and …
Persistent link: https://www.econbiz.de/10009457479
influences of economic and financial factors represented by certain indicators (inflation, unemployment, exports as percentage of …
Persistent link: https://www.econbiz.de/10011316257
and inflation rate were not as a result of deregulation, and deregulating price of petroleum products significantly … influence economic growth with marginal inflation. The paper recommends that government should encourage private sector …
Persistent link: https://www.econbiz.de/10011437097
, inflation, balance of payment, foreign investments, and unemployment …
Persistent link: https://www.econbiz.de/10011716413