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Petrodollars, Globalization and U.S. Inflation
Hojjat, Tahereh Alavi - 2010
This paper evaluates the theoretical and empirical evidence that bears on the question of whether globalization and … petrodollars recycling contributed to significant changes in inflation performance in the U.S. We assume that the impact of … globalization can be direct and indirect. Direct impact is through the cheaper imported goods to the U.S. as a component of Consumer …
Persistent link: https://www.econbiz.de/10013141894
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Labour market regimes and unemployment in OECD countries
Sturn, Simon - 2011 - Version 1.0
Until now there exists no consensus view on the determinants of unemployment. Whereas some empirical papers find that mainly labour market institutions explain unemployment, others argue that this correlation is not robust. One explanation for these contradictory results is that labour market...
Persistent link: https://www.econbiz.de/10009530395
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Unemployment Risk, Liquidity Traps, and Monetary Policy
Bonciani, Dario; Oh, Joonseok - 2021
unemployment risk and decline in demand. As a result, market incompleteness may alleviate contractions in output and inflation …
Persistent link: https://www.econbiz.de/10013242832
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Aggregate Supply in the United States : Recent Developments and Implications for the Conduct of Monetary Policy
Reifschneider, David - 2014
instability or inflation instability -- could cause policymakers to exercise restraint in their response to cyclical weakness …
Persistent link: https://www.econbiz.de/10013061218
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Asymmetric Effects of Monetary Policy on Firms
Kurt, Ezgi - 2022
This paper documents firm-level evidence on the asymmetric effects of monetary policy in the US. Focusing on firm-level data from 1980q3 to 2016q2, I find that monetary contractions triple the effects of monetary expansions on firms’ employment, investment rate, and sales. Furthermore, I...
Persistent link: https://www.econbiz.de/10014236795
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Optimal Monetary and Macroprudential Policies Under Fire-Sale Externalities
Lutz, Flora - 2023
I provide an integrated analysis of monetary and macroprudential policies in a model economy featuring a financial friction and a nominal wage rigidity. In this set-up, the monetary authority faces a trade-off between macroeconomic and financial stability: While expansionary counter-cyclical...
Persistent link: https://www.econbiz.de/10014350473
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Unemployment risk, liquidity traps and monetary policy
Bonciani, Dario; Oh, Joonseok - 2021
unemployment risk and decline in demand. As a result, market incompleteness may alleviate contractions in output and inflation …
Persistent link: https://www.econbiz.de/10013226757
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Fear of Liftoff : Uncertainty, Rules, and Discretion in Monetary Policy Normalization
Orphanides, Athanasios - 2019
As the author describes it, the Federal Reserve’s muddled mandate to attain simultaneously the incompatible goals of maximum employment and price stability invites short-term-oriented discretionary policymaking inconsistent with the systematic approach needed for monetary policy to...
Persistent link: https://www.econbiz.de/10012903929
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Fear of Liftoff : Uncertainty, Rules and Discretion in Monetary Policy Normalization
Orphanides, Athanasios - 2015
The Federal Reserve's muddled mandate to attain simultaneously the incompatible goals of maximum employment and price stability invites short-term-oriented discretionary policymaking inconsistent with the systematic approach needed for monetary policy to contribute best to the economy over time....
Persistent link: https://www.econbiz.de/10013017027
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Central banks, trade unions and reputation – is there room for an expansionist manoeuvre in the European Union?
Pusch, Toralf; Heise, Arne - 2008
It is now a few years since the introduction of the common currency, and Europe is still experiencing high unemployment. The conventional logic attributes this problem to strong trade unions and other flaws in the labour market. This article takes a different approach. Using a game theoretic...
Persistent link: https://www.econbiz.de/10008663759