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The trade-off between inflation and unemployment in an "MMT world" : an open-economy perspective

Carnevali, Emilio; Deleidi, Matteo - In: European journal of economics and economic policies : … 20 (2023) 1, pp. 90-124

This paper is focused on modern monetary theory's (MMT) treatment of inflation from an open-economy perspective. It … vision. However, it also makes use of a stock-flow consistent open-economy model to underline some limits of the theory when … facing an inflation-unemployment trade-off. …

Persistent link: https://www.econbiz.de/10014433719

The Trade-off between Inflation and Unemployment in an MMT World : An Open Economy Perspective

Carnevali, Emilio; Deleidi, Matteo - 2020

This paper is focused on Modern Monetary Theory’s (MMT) treatment of inflation from an open economy perspective. It … vision. However, it also makes use of a stock-flow consistent (open economy) model to underline some limits of the theory … facing an inflation-unemployment trade-off …

Persistent link: https://www.econbiz.de/10014093223

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

, inflation and unemployment, we detect a wrong sign in the response of inflation to contractionary monetary policy shocks … significant unemployment inflation trade-off emerges. These conclusions are confirmed by using industrial production instead of … the unemployment rate in the VAR model. …

Persistent link: https://www.econbiz.de/10013168711

The trade-off between inflation and unemployment in an MMT world: an open economy perspective

Carnevali, Emilio; Deleidi, Matteo - 2020

This paper is focused on Modern Monetary Theory's (MMT) treatment of inflation from an open economy perspective. It … vision. However, it also makes use of a stock-flow consistent (open economy) model to underline some limits of the theory … facing an inflation-unemployment trade-off. …

Persistent link: https://www.econbiz.de/10012291955

Two-country new Keynesian DSGE model : a small open economy as a limit case

Silveira, Marcos Antonio Coutinho da - 2015

We build a two-country version of the model in Gali & Monacelli (2005), which extends for a small open economy the new Keynesain DSGE model used as tool for monetary policy analysis in closed economies. A distinctive feature of the model is that the terms of trade enters directly into the new...

Persistent link: https://www.econbiz.de/10012038711