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Estimating the natural rate of hours
Berger, Tino; Vierke, Hauke - In: Macroeconomic dynamics 21 (2017) 6, pp. 1426-1453
Persistent link: https://www.econbiz.de/10011805484
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Monetary policy shocks in open economies and the inflation unemployment trade-off : the case of the Euro Area
Ribba, Antonio - In: Journal of risk and financial management : JRFM 15 (2022) 4, pp. 1-12
In this paper, we show that in order to obtain a sound identification of Euro Area monetary policy shocks, one needs to deal with the interaction of the European Central Bank and the US Federal Reserve. In other words, a proper identification of monetary policy shocks for an open economy like...
Persistent link: https://www.econbiz.de/10013168711
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Time-varying Nairu and real interest rates in the Euro Area
Logeay, Camille; Tober, Silke - 2003
This paper analyses the Nairu in the Euro Area and the influence that monetary policy had on its development. Using the … Kalman-filter technique we find that the Nairu has varied considerably since the early seventies. The Kalman-filter technique … explain a quarter of the increase in the Nairu between 1980 and 1995. This indicates the possibility of a long-run non …
Persistent link: https://www.econbiz.de/10011438545
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Time-varying Nairu and real interest rates in the Euro Area
Logeay, Camille; Tober, Silke - 2003
This paper analyses the Nairu in the Euro Area and the influence that monetary policy had on its development. Using the … Kalman-filter technique we find that the Nairu has varied considerably since the early seventies. The Kalman-filter technique … explain a quarter of the increase in the Nairu between 1980 and 1995. This indicates the possibility of a long-run non …
Persistent link: https://www.econbiz.de/10010260669
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Time-varying Nairu and real interest rates in the euro area
Logeay, Camille; Tober, Silke - 2003
Persistent link: https://www.econbiz.de/10001798055
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The link between labor cost and price inflation in the euro area
Bobeica, Elena; Ciccarelli, Matteo; Vansteenkiste, Isabel - 2019
This paper documents, for the first time in a systematic manner, the link between labor cost and price inflation in the euro area. Using country and sector quarterly data over the period 1985Q1-2018Q1 we find a strong link between labor cost and price inflation in the four major economies of the...
Persistent link: https://www.econbiz.de/10011975511
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The unnatural rate of unemployment : reflections on the barro-gordon and natural rate paradigms
Rathi, Abhiruchi; Srinivasan, Naveen - 2020
Persistent link: https://www.econbiz.de/10013465965
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Endogenous growth, skill obsolescence and output hysteresis in a New Keynesian model with unemployment
Lechthaler, Wolfgang; Tesfaselassie, Mewael F. - 2020
We embed human capital-based endogenous growth into a New-Keynesian model with search and matching frictions in the labor market and skill obsolescence from long-term unemployment. The model can account for key features of the Great Recession: a decline in productivity growth, the relative...
Persistent link: https://www.econbiz.de/10012269664
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Endogenous Labor Force Participation, Involuntary Unemployment and Monetary Policy
Liu, Yuelin - 2015
This paper develops a New Keynesian model with search frictions in which generated frictional unemployment is consistent with the time series of involuntary unemployment collected by the U.S. Bureau of Labor Statistics. Thus, it can shed light on the relevant impact of labor market frictions and...
Persistent link: https://www.econbiz.de/10013030841
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Decomposing the Output Gap with Inflation Learning
Panovska, Irina; Ramamurthy, Srikanth - 2021
We incorporate adaptive learning-based inflation expectations in an Unobserved Components model in order to study the link between inflation and the output gap. The forward-looking New Keynesian Phillips curve serves as the backbone for modeling inflation dynamics. We find that learning based...
Persistent link: https://www.econbiz.de/10013234838