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The original Keynesian paradigm differs from the Neoclassical Synthesis and even more so from the New-Keynesian approach. In this paper, a modern framework for the original Keynesian paradigm is presented. It will highlight the key elements of the paradigm. A model is developed to determine...
Persistent link: https://www.econbiz.de/10010314657
This paper seeks to identify what worked and what didn't work to stop inflation in Argentina in the last seventy years …
Persistent link: https://www.econbiz.de/10011810926
In a new Keynesian model with random search in the labor market, endogenous selection among heterogeneous workers amplifies fluctuations in unemployment and results in excess unemployment volatility relative to the efficient allocation. Recessions disproportionately affect lowproductivity...
Persistent link: https://www.econbiz.de/10012659972
What explains the cross-national variation in inflation rates in developed countries? Previous literature has … matters for inflation: the share of the population above 65 years old in a country. I argue that countries with a larger share … of elderly have lower inflation because older people are both more inflation averse and politically powerful, forcing …
Persistent link: https://www.econbiz.de/10015070648
inflation is statistically expressed. Therefore, in considerations of the basic factors of increase in the general price level … research is to peruse the effect of the characteristics of the food market in Serbia on the inflation rate. High volatility of … inflation rate, the indirect state control is very important so as to maintain price stability. Special importance is attached …
Persistent link: https://www.econbiz.de/10012217808
We study the impact of the COVID-19 pandemic on euro area inflation and how it compares to the experiences of other …-output linkages, affecting both trade and inflation; (2) inflation can be higher under sector-specific labor shortages relative to a … domestic aggregate demand shocks in explaining euro area inflation over 2020-21; and (4) international trade did not respond to …
Persistent link: https://www.econbiz.de/10013432954
policy to U.S. inflation over the December 2019-June 2022 period. Model calibrations show that aggregate demand shocks … explain roughly two-thirds of total model-based inflation, and that the fiscal stimulus contributed half or more of the total …
Persistent link: https://www.econbiz.de/10014302772
Ausgleich von Preisschocks durchsetzt, zu hoher Inflation und letztlich zu harter restriktiver Geldpolitik mit Arbeitslosigkeit … side of capital. The experience of the inflation wave and oil price shocks of the 1970s shows that a wage policy that … enforces full compensation of price shocks through higher wages leads to high inflation and ultimately to harsh restrictive …
Persistent link: https://www.econbiz.de/10014331142
time. When the inflation rate for 2022 was re-referenced to the 2020 base year, it stood at 6.9% and was one percentage …
Persistent link: https://www.econbiz.de/10014333761
Persistent link: https://www.econbiz.de/10014334676