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This paper examines the implications of segmented assets markets for the real and nominal effects of monetary policy. I develop a model, in which varieties of consumption bundles are purchased sequentially. Newly injected money thus disseminates slowly through the economy via second-round...
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Results from laboratory experiments using real-effort tasks provide mixed evidence on the relationship between monetary incentives and effort provision. To examine this issue, we design three experiments where subjects participate in two-player real-effort tournaments with two prizes. Experiment...
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of fiscal and monetary policy (Bankers' Europe). On the other, there is apprehension that inflation and monetary turmoil … may be back in Europe under the pressure of deficit-prone countries (Workers' Europe). Is there a rationale for such … deficit bias (in line with the worries of Workers' Europe addressed by the "stability pact") as well as an excess monetary …
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Interaction -- Monetary and Fiscal Cooperation -- Monetary Policies in Europe and America -- Monetary Interaction between Europe … and America: Case A -- Monetary Interaction between Europe and America: Case B -- Monetary Interaction between Europe and … America: Case C -- Monetary Cooperation between Europe and America: Case A -- Monetary Cooperation between Europe and America …
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Monetary Interaction between Europe and America -- Monetary Cooperation between Europe and America -- Fiscal … Interaction between Europe and America -- Fiscal Coopearation between Europe and America -- Monetary and Fiscal Interaction … between Europe and America: Cold-Turkey Policies -- Monetary and Fiscal Interaction between Europe and America: Gradualist …
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