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Practical Model-Based Monetary Policy Analysis; A How-To Guide
Laxton, Douglas; Berg, Andrew; Karam, Philippe D - International Monetary Fund (IMF) - 2006
This paper provides a how-to guide to model-based forecasting and monetary policy analysis. It describes a simple structural model, along the lines of those in use in a number of central banks. This workhorse model consists of an aggregate demand (or IS) curve, a price-setting (or Phillips)...
Persistent link: https://www.econbiz.de/10005599522
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Taxation, income redistribution and debt dynamics in a seven-equation model of the business cycle
Colacchio, Giorgio - In: Journal of Economic Behavior & Organization 106 (2014) C, pp. 140-165
In this paper we investigate the economic dynamics of a seven-equation model of the business cycle. The main distinctive features of the model are related to: (a) the role played by the public sector in redeploying income between workers and capitalists, since it is assumed that the bargaining...
Persistent link: https://www.econbiz.de/10010930948
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Hopf bifurcation for the discrete - delay Kaldor - Kalecki model
Dobrescu, Loretti I.; Opris, Dumitru - Dipartimento di Scienze Economiche "Marco Fanno", … - 2008
The present work will focus on a Kaldor - Kalecki non - linear business cycle model in income and capital, with discrete time and delay argument characteristics. What it will state, considering an investment function similar to the one proposed by Rodano and using the linear approximation...
Persistent link: https://www.econbiz.de/10005786755
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The Impact of the Unemployment Benefit System on International Spillover Effects
Beissinger, Thomas; Büsse, Oliver - Wirtschaftswissenschaftliche Fakultät, Universität … - 2002
Based on a two-country model it is scrutinized how the structure of the unemployment benefit system affects the consequences of idiosyncratic labor market shocks on real wages and unemployment in other countries. International spillover effects are caused by changes in world real income. The...
Persistent link: https://www.econbiz.de/10005063034
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Löhne und Beschäftigung im Ungleichgewicht
Pohl, Rüdiger - In: Mitteilungen aus der Arbeitsmarkt- und Berufsforschung 11 (1978) 3, pp. 344-351
) Im neoklassischen Ansatz sinkt durch eine Nominallohnsenkung auch der Reallohn, was die Beschäftigung erhöht. Inflexible … Reallohn bleibt dann im großen und ganzen unverändert mit der Folge, daß auch die Arbeitslosigkeit erhalten bleibt … (b) wird angenommen, daß die Unternehmer zum herrschenden Reallohn jene Arbeitsmenge einsetzen, bei der sie ihren Gewinn …
Persistent link: https://www.econbiz.de/10005132425
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Löhne und Beschäftigung im Ungleichgewicht
Pohl, Rüdiger - In: Mitteilungen aus der Arbeitsmarkt- und Berufsforschung 11 (1978) 3, pp. 344-351
) Im neoklassischen Ansatz sinkt durch eine Nominallohnsenkung auch der Reallohn, was die Beschäftigung erhöht. Inflexible … Reallohn bleibt dann im großen und ganzen unverändert mit der Folge, daß auch die Arbeitslosigkeit erhalten bleibt … (b) wird angenommen, daß die Unternehmer zum herrschenden Reallohn jene Arbeitsmenge einsetzen, bei der sie ihren Gewinn …
Persistent link: https://www.econbiz.de/10010733511
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Lectures on John Maynard Keynes’ General Theory of Employment, Interest and Money (2): Chapter 2, “The Postulates of the Classical Economics”
Ferguson, Brian S. - Department of Economics and Finance, College of … - 2013
Chapter 2 is one of the most important chapters in the General Theory. Not only does it set out Keynes’ disagreements … the analysis in the remainder of the General Theory. The issue of how labour’s response to a change in its real wage …
Persistent link: https://www.econbiz.de/10010721589
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Cyclical behavior of real wages in Japan
Miyamoto, Hiroaki - In: Economics Letters 130 (2015) C, pp. 56-59
This paper studies the cyclicality of aggregate real wages in Japan. By using both static and dynamic approaches, I measure comovements between real wages and business cycle indicators. This paper finds that while real wages constructed using the consumer price index and the GDP deflator are...
Persistent link: https://www.econbiz.de/10011263445
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Real wages and the business cycle in Germany
Marczak, Martyna; Beissinger, Thomas - Forschungszentrum Innovation und Dienstleistung, … - 2010
This paper establishes stylized facts about the cyclicality of real consumer wages and real producer wages in Germany. As detrending methods we apply the deterministic trend model, the Beveridge-Nelson decomposition, the Hodrick-Prescott filter, the Baxter-King filter and the structural time...
Persistent link: https://www.econbiz.de/10008695026
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Real Wages over the Business Cycle: OECD Evidence from the Time and Frequency Domains
Messina, Julián; Strozzi, Chiara; Turunen, Jarkko - Institute for the Study of Labor (IZA) - 2008
We study differences in the adjustment of aggregate real wages in the manufacturing sector over the business cycle across OECD countries, combining results from different data and dynamic methods. Summary measures of cyclicality show genuine cross-country heterogeneity even after controlling for...
Persistent link: https://www.econbiz.de/10005703513