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The original Keynesian paradigm differs from the Neoclassical Synthesis and even more so from the New-Keynesian approach. In this paper, a modern framework for the original Keynesian paradigm is presented. It will highlight the key elements of the paradigm. A model is developed to determine...
Persistent link: https://www.econbiz.de/10009756278
We analyse the determinants of the inflation trends in ten Southeast European (SEE) countries. Global cost …-related factors and euro area inflation developments play an important role in explaining inflation dynamics in SEE countries. Changes … exchange to the euro area (EA) market appear to be susceptible to inflation spillovers from the euro area. Moreover, nominal …
Persistent link: https://www.econbiz.de/10012101480
We analyze the determinants of the inflation trends in ten Southeast European (SEE) countries. Global cost …-related factors and euro area (EA) inflation developments play an important role in explaining inflation dynamics in SEE countries … exchange to euro area market appear to be susceptible to inflation spillovers from the euro area. Moreover, nominal effective …
Persistent link: https://www.econbiz.de/10012124587
do not force a central bank to tolerate higher inflation, but may generate a tradeoff between the central bank …'s objectives for inflation and real activity. The presence and size of this tradeoff depends on how flexible prices are in the …
Persistent link: https://www.econbiz.de/10013548986
Foreign price shocks have significant effects on functional income distribution and on inflation inequality. By ….g. food prices for low-wage workers). Based on the conflicting-claims inflation literature, we propose a new extension to this … with an inflation-targeting regime. We investigate the impacts of foreign price shocks on income and inflation inequality …
Persistent link: https://www.econbiz.de/10013553408
inflation and real rigidity. Analytically, I find that important dynamics in the NKPC are canceled out due to the restrictive … dynamic structure introduced by the non-constant hazards is also quantitatively important to the inflation dynamics …. Incorporation of real rigidity and trend inflation strengthen this effect even further. With reasonable parameter values, the model …
Persistent link: https://www.econbiz.de/10010270701
inflation and real rigidity. Analytically, I find that important dynamics in the NKPC are canceled out due to the restrictive … dynamic structure introduced by the non-constant hazards is also quantitatively important to the inflation dynamics …. Incorporation of real rigidity and trend inflation strengthen this effect even further. With reasonable parameter values, the model …
Persistent link: https://www.econbiz.de/10003875283
inventory management techniques. Drawing from Post-Keynesian and structuralist theories of inflation, this paper uses a vector …Several explanations of the "great inflation moderation" (1982-2006) have been put forth, the most popular being that … inflation was tamed due to good monetary policy, good luck (exogenous shocks such as oil prices), or structural changes such as …
Persistent link: https://www.econbiz.de/10009718421
The implementation of economic reforms under new economic policies in India was associated with a paradigmatic shift in monetary and fiscal policy. While monetary policies were solely aimed at "price stability" in the neoliberal regime, fiscal policies were characterized by the objective of...
Persistent link: https://www.econbiz.de/10010385761
to support the standard objection to such policies: that they will lead to uncontrollable inflation. Theoretical models … support for a relationship between monetary financing and inflation. The findings lend support to recent calls for explicit …
Persistent link: https://www.econbiz.de/10011389179