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International Trade Openness and Monetary Policy : Evidence from Cross-Country Data
Leibovici, Fernando - 2019
This article studies the extent to which open economies conduct monetary policy differently from economies that are relatively closed to international trade. I first estimate country-specific Taylor rules for 26 economies, following the approach of Clarida, Galí, and Gertler (1998 and 2000)....
Persistent link: https://www.econbiz.de/10012858652
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Optimal central bank conservatism and monopoly trade unions
Berger, Helge (contributor); Hefeker, Carsten (contributor);  … - 2000 - [Elektronische Ressource]
The "conservative central banker" has come under attack recently. Explicitly modeling the interaction of a trade union with monetary policy, it has been argued that the standard solution to the inflationary bias in monetary policy might actually be welfare reducing if the trade union has an...
Persistent link: https://www.econbiz.de/10001598880
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Fiscal policy, labor unions, competitiveness and monetary institutions : their long run impact on unemployment, inflation and welfare
Cukierman, Alex (contributor); Dalmazzo, Alberto (contributor) - 2007
classes of questions are investigated. First, what is the impact of exogenously given labor taxes and unemployment benefits on … of competitiveness on goods' market affect the economy and welfare? Second, how are labor taxes and redistribution chosen …, each of which maximizes its profits. The last part of the paper also features a fiscal authority that sets taxes and …
Persistent link: https://www.econbiz.de/10003485021
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Fiscal-monetary policy interactions in the presence of unionized labor markets
Cukierman, Alex; Dalmazzo, Alberto - In: International tax and public finance 13 (2006) 4, pp. 411-435
Persistent link: https://www.econbiz.de/10003358369
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Optimal central bank conservatism and monopoly trade unions
Berger, Helge - 2001
The "conservative central banker" has come under attack recently. Explicitly modeling the interaction of a trade union with monetary policy, it has been argued that the standard solution to the inflationary bias in monetary policy might actually be welfare reducing if the trade union has an...
Persistent link: https://www.econbiz.de/10014460949
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Fiscal-monetary policy interactions in the presence of unionized labour markets
Cukierman, Alex - 2005
Persistent link: https://www.econbiz.de/10013424680
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Central banks' interest rate and international trade in BRIC countries : agriculture vs machinery industry?
Borodin, Konstantin G.; Strokov, Anton - 2011
The paper investigates interrelations between the dynamics of national central banks' interest rates and international trade within the BRIC countries. It shows that countries with lower interest rates experience growth of the share of machinery industry exports rather than agriculture and food...
Persistent link: https://www.econbiz.de/10009317639
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Macroeconomic effects of tariffs shocks : the role of the effective lower bound and the labour market
Jacquinot, Pascal; Lozej, Matija; Pisani, Massimiliano - 2020
We simulate a version of the EAGLE, a New Keynesian multi-country model of the world economy, to assess the macroeconomic effects of US tariffs imposed on one country member of the euro area (EA), and the rest of the world (RW). The model is augmented with an endogenous effective lower bound...
Persistent link: https://www.econbiz.de/10012241231
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The Effects of Alternative Wage Regimes in a Monetary Union : A Multi-Country Agent Based-Stock Flow Consistent Model
Caiani, Alessandro; Catullo, Ermanno; Gallegati, Mauro - 2018
The eurozone crisis has revitalized the debate between economists on the role played by wages in open economies. Salaries paid to workers are at the same time a fundamental source of aggregate demand and a determinant of firms' international cost competitiveness. After presenting the most...
Persistent link: https://www.econbiz.de/10014116586
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Key Elements of Global Inflation
Anderton, Robert - 2009
Against the background of large fluctuations in world commodity prices and global growth, combined with ongoing structural changes relating to globalization, this paper examines some of the key factors affecting global inflation. The paper empirically investigates various relative price and...
Persistent link: https://www.econbiz.de/10013154947