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Schlicht, Ekkehart - 2006

The Labor Market and Employment (Handbook article). The labor market differs from typical markets in important ways. We find job competition and collective mechanisms that set wages and working conditions. Changes in employment bring about changes in wages and prices and entail political and...

Persistent link: https://www.econbiz.de/10010427449

The decline of activist stabilization policy: Natural rate misperceptions, learning, and expectations

Orphanides, Athanasios; Williams, John C. - 2004

We develop an estimated model of the U.S. economy in which agents form expectations by continually updating their beliefs regarding the behavior of the economy and monetary policy. We explore the effects of policymakers' misperceptions of the natural rate of unemployment during the late 1960s...

Persistent link: https://www.econbiz.de/10010298293

Banks and early deposit withdrawals in a new Keynesian framework

Totzek, Alexander - 2009

When the current financial crisis has widened to a global economic crisis an urgent call for implementing financial markets and financial institutions in business cycle models emerged. By modelling commercial banks as a third type of economic agent, we are able to implement the feature of early...

Persistent link: https://www.econbiz.de/10010299743

The determinants of stagflation in a panel of countries

Berthold, Norbert; Gründler, Klaus - 2013

This paper explores the determinants of stagflation. Three measures are proposed that gauge both the occurrence and the … strength of stagflation. We investigate the empirical determinants of these measures, accounting for a range of theoretical … find clear evidence that adverse supply-shocks enhance the probability and the magnitude of stagflation. However, while …

Persistent link: https://www.econbiz.de/10010327640

Stagflationstendenzen: was kann die Finanzpolitik tun?: Kommentar

Steiner, Viktor - In: DIW Wochenbericht 75 (2008) 37, pp. 554

Persistent link: https://www.econbiz.de/10011601880

Monetary policy rules, macroeconomic stability and inflation: a view from the trenches

Orphanides, Athanasios - 2001

I estimate a forward-looking monetary policy reaction function for the Federal Reserve for the periods before and after Paul Volcker's appointment as Chairman in 1979, using information that was available to the FOMC in real time from 1966 to 1995. The results suggest broad similarities in...

Persistent link: https://www.econbiz.de/10011604161

The decline of activist stabilization policy: natural rate misperceptions, learning, and expectations

Orphanides, Athanasios; Williams, John C. - 2004

expectations would have remained anchored and the stagflation of the 1970s would have been avoided. Indeed, we nd that less …

Persistent link: https://www.econbiz.de/10011604383

Inflation and Accumulation. The Case of Israel

Nitzan, Jonathan; Bichler, Shimshon - In: Science & Society 64 (2000) 3, pp. 274-309

The paper offers a new theoretical framework for linking inflation and accumulation, with the Israeli experience as a case study. The focal point is the process of differential accumulation by the largest core firms. The theory of differential accumulation suggests that the relative power of...

Persistent link: https://www.econbiz.de/10011644557

From Welltop to Laptop?

Bichler, Shimshon; Nitzan, Jonathan - 2008

Over the past decade, soaring commodity prices have had a relatively minor impact on the overall level of prices, at least by historical standards. Whereas oil is twelve times more expensive now that it was in 1999, consumer prices in industrialized countries are only 20 per cent higher. This...

Persistent link: https://www.econbiz.de/10011644930

The Buy-to-Build Indicator: New Estimates and Comment

Francis, Joseph; Bichler, Shimshon; Nitzan, Jonathan - 2013

The first part of the exchange is a short article by Joe Francis. The article provides new long-term estimates and an assessment of the buy-to-build indicator for the United States and Britain, going back to the beginning of the 20th century. The second part offers commentary by Shimshon Bichler...

Persistent link: https://www.econbiz.de/10011644942