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Rethinking conflict inflation : the hybrid Keynesian-NAIRU character of the conflict Phillips curve
Palley, Thomas I. - 2024 - Revised March 2024
This paper presents a new formulation of conflict inflation labeled the "pass-through" approach, which contrasts with … the existing "pressure balance" approach. The model generates Phillips styled inflation - unemployment dynamics that are a … hybrid of Keynesian and NAIRU dynamics. Conflict inflation arises when economic activity rises above the consistent claims …
Persistent link: https://www.econbiz.de/10014529512
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Studying the Nairu and its Implications
Bozani, Vasiliki - 2011
, phenomena, and history. Given the key role that the Non-Accelerating Inflation Rate of Unemployment (NAIRU) has in the …
Persistent link: https://www.econbiz.de/10013118538
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The Labour Market in a Keynesian Economic Regime : Theoretical Debate and Empirical Findings
Herr, Hansjörg - 2010
productivity growth as well as the target inflation rate of the central bank, discretionary monetary policy geared towards growth …
Persistent link: https://www.econbiz.de/10013151089
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Consumption Smoothing and the Structure of Labor and Credit Markets
Bertola, Giuseppe; Koeniger, Winfried - 2021
Smoother labor incomes alleviate credit constraints by reducing workers' desire to borrow, and prospects of upward income mobility have smaller beneficial effects for currently poor workers when borrowing constraints are binding. These simple theoretical insights are consistent with the...
Persistent link: https://www.econbiz.de/10013319443
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Reconsidering the natural rate hypothesis
Jump, Robert Calvert; Stockhammer, Engelbert - 2019
The natural rate hypothesis states that there exists an unemployment rate at which inflation is stable, and that this …
Persistent link: https://www.econbiz.de/10012006658
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Earnings inequality and the minimum wage : evidence from Brazil
Engbom, Niklas; Moser, Christian - 2017
We quantify the effect of a minimum wage on compression throughout the earnings distribution. Using the case of Brazil, which experienced a large decrease in earnings inequality while its real minimum wage increased from 1996-2012, we document that the inequality decrease was bottom-driven yet...
Persistent link: https://www.econbiz.de/10011619641
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Household Income Volatility and Tax Policy : Helping More and Hurting Less, Testimony Before the U.S. Joint Economic Committee
Batchelder, Lily L. - 2010
This testimony makes three main points. First, income volatility, especially when it involves income declines, imposes significant hardships on American families. It heightens stress about finances and may increase household living expenses. These hardships are most pronounced for middle-and...
Persistent link: https://www.econbiz.de/10014195419
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Asymmetric Effects of Monetary Policy on Firms
Kurt, Ezgi - 2022
This paper documents firm-level evidence on the asymmetric effects of monetary policy in the US. Focusing on firm-level data from 1980q3 to 2016q2, I find that monetary contractions triple the effects of monetary expansions on firms’ employment, investment rate, and sales. Furthermore, I...
Persistent link: https://www.econbiz.de/10014236795
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Monetary-fiscal policy interaction and fiscal inflation: a tale of three countries
Kliem, Martin; Kriwoluzky, Alexander; Sarferaz, Samad - 2015
fiscal stance and inflation using cross-country data from 1965 to 1999. In a first step, we contrast the monetary … that the low-frequency relationship between the fiscal stance and inflation is low during periods of an independent central … illustrate the mechanisms through which fiscal actions affect inflation in the long run. The findings from the DSGE model suggest …
Persistent link: https://www.econbiz.de/10011382562
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Macroeconomic dynamics and the IS puzzle
Hawkins, Raymond J.; Nguyen, Chau N. - 2018
The authors solve the IS puzzle for the G7 countries. They find that five of the G7 countries have the expected significant negative relationship between the output gap and the real-rate gap; the time series of the remaining two show material deviation from expected IS-curve behavior. The...
Persistent link: https://www.econbiz.de/10011917259