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This paper estimates a series of shocks to hit the US economy during the Great Depression, using a New Keynesian model with unemployment and bargaining frictions. Shocks to long-run inflation expectations appear to account for much of the cyclical behavior of employment, while an increase in...
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financial systems still reflect national values? The case of the United States, Germany, and France / Eelke de Jong -- Chapter 8 … independence and monetary policy in the US, Germany and France: have they converged? / Eelke de Jong -- Part IV. Concluding remarks … country. This book explores the economic impacts of these shared cultural values, focusing on the wider economies of the USA …
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country. This book explores the economic impacts of these shared cultural values, focusing on the wider economies of the USA …, Germany, and France. These three countries represent broadly different types of economic organization and their corresponding …
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This paper explores the role that inflation forecasts play in the uncertainty surrounding the estimated effects of alternative monetary rules on unemployment dynamics in the euro area and the US. We use the inflation forecasts of 8 competing models in a standard Bayesian VAR to analyse the size...
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This book offers a comprehensive empirical analysis of South African inflation dynamics, using a variety of techniques including counterfactual analysis. The authors elaborate the roles in inflation of thresholds, nonlinearities and asymmetries introduced by economic conditions such as the size...
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