The aim of the article is to clarify the controversies surrounding the relationship between inflation and unemployment in the three most economically significant countries in the world (apart from China), namely the United States, Japan, and Germany, during the coronavirus pandemic (from January...

This paper analyzes how forming a monetary union affects consumption and earnings inequalities caused by adopting a common currency. We use a two country overlapping-generations model to investigate these effects. When countries choose to form a monetary union, the country with higher initial...

In this paper we investigate the impact of the recent US unemployment benefits extension on the labor market dynamic when the nominal interest rate is held at the zero lower bound (ZLB). Using a New Keynesian model, our quantitative experiments suggest that, in contrast to the existing...

Keeping in view the objective that is to observe the usefulness of fiscal policy on real GDP of Pakistan, the study collects time series data from 1976 to 2012 through reliable sources of statistical bureaus of Pakistan. Using Johansen Cointegration test, the long run results demonstrate...

This paper is prepared with an intention to examine the impact of major macroeconomic variables which includes real interest rate, inflation rate, unemployment rate, GDP per capita, foreign direct investment inflows, export and import over the exchange rate of the countries who are the member of...

The paper examines changes in the Bulgarian economy following the global financial and economic crisis of 2008. The discussion is primarily based on the behavior of economic agents in the crisis – households and companies. The paper also seeks to address the changes in the external and fiscal...

The digitalisation workstream report analyses the degree of digital adoption across the euro area and EU countries and the implications of digitalisation for measurement, productivity, labour markets and inflation, as well as more recent developments during the coronavirus (COVID-19) pandemic...

This paper analyzes the heterogeneous effects of monetary policy on workers with different levels of labor force attachment. Exploiting variation in labor market tightness across metropolitan areas, we show that the employment of populations with lower labor force attachment--Blacks, high school...

The digitalisation workstream report analyses the degree of digital adoption across the euro area and EU countries and the implications of digitalisation for measurement, productivity, labour markets and inflation, as well as more recent developments during the coronavirus (COVID-19) pandemic...

The issue of the backward-looking versus the forward-looking Phillips curve is still an open question in the macroeconomics profession. We identify the real output effects of monetary policy shocks as a crucial implication of the traditional Phillips curve. The backward-looking Phillips curve...