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The Labor Market and Employment (Handbook article). The labor market differs from typical markets in important ways. We find job competition and collective mechanisms that set wages and working conditions. Changes in employment bring about changes in wages and prices and entail political and...
Persistent link: https://www.econbiz.de/10010427449
Persistent link: https://www.econbiz.de/10010423433
Stagflation, a simultaneous increase in inflation and unemployment, is generally thought to result from exogenous oil … shocks. In this paper, we investigate another potential source of stagflation focusing on tariffs. Relying on the estimation …
Persistent link: https://www.econbiz.de/10011895126
The recent U.S. trade policy shift has reignited interest about the macroeconomic effects of import tariffs. In this paper, we examine the impacts of import tariff shocks on U.S. macroeconomic performance using quarterly data from 1989-2017. Relying upon the estimation of structural VAR model...
Persistent link: https://www.econbiz.de/10011910860
The Labor Market and Employment (Handbook article). The labor market differs from typical markets in important ways. We find job competition and collective mechanisms that set wages and working conditions. Changes in employment bring about changes in wages and prices and entail political and...
Persistent link: https://www.econbiz.de/10003368130
Persistent link: https://www.econbiz.de/10011715433
contemporary evidence of stagflation in developed countries. Being the residual sector, the informal sector inevitably moves in the …
Persistent link: https://www.econbiz.de/10014320178
Persistent link: https://www.econbiz.de/10013470993
I estimate a forward-looking monetary policy reaction function for the Federal Reserve for the periods before and after Paul Volcker's appointment as Chairman in 1979, using information that was available to the FOMC in real time from 1966 to 1995. The results suggest broad similarities in...
Persistent link: https://www.econbiz.de/10011604161
expectations would have remained anchored and the stagflation of the 1970s would have been avoided. Indeed, we nd that less …
Persistent link: https://www.econbiz.de/10011604383