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Berger, Tino; Vierke, Hauke - In: Macroeconomic dynamics 21 (2017) 6, pp. 1426-1453

Persistent link: https://www.econbiz.de/10011805484

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

In this paper, we show that in order to obtain a sound identification of Euro Area monetary policy shocks, one needs to deal with the interaction of the European Central Bank and the US Federal Reserve. In other words, a proper identification of monetary policy shocks for an open economy like...

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

Estimating Nairu for the Turkish Economy Using Extended Kalman Filter Approach

Us, Vuslat - Türkiye Cumhuriyet Merkez Bankası - 2014

This paper estimates NAIRU (Non-Accelerating Inflation Rate of Unemployment) for the Turkish economy as an unobserved … unemployment gap, the systems approach imposes stochastic laws of motion for NAIRU and potential output and also assumes the … problem introduces nonlinearity, which requires the use of Extended Kalman Filter (EKF). Estimation results suggest that NAIRU …

Persistent link: https://www.econbiz.de/10010941465

Time-varying Nairu and real interest rates in the Euro Area

Logeay, Camille; Tober, Silke - 2003

This paper analyses the Nairu in the Euro Area and the influence that monetary policy had on its development. Using the … Kalman-filter technique we find that the Nairu has varied considerably since the early seventies. The Kalman-filter technique … explain a quarter of the increase in the Nairu between 1980 and 1995. This indicates the possibility of a long-run non …

Persistent link: https://www.econbiz.de/10011438545

Time-varying Nairu and real interest rates in the euro area

Logeay, Camille; Tober, Silke - 2003

Persistent link: https://www.econbiz.de/10001798055

The unnatural rate of unemployment : reflections on the barro-gordon and natural rate paradigms

Rathi, Abhiruchi; Srinivasan, Naveen - 2020

Persistent link: https://www.econbiz.de/10013465965

Inflation expectations and nonlinearities in the Phillips Curve

Doser, Alexander; Nunes, Ricardo; Rao, Nikhil; … - 2017 - This version: October 2017

This paper shows that a simple form of nonlinearity in the Phillips curve can explain why, following the Great Recession, inflation did not decrease as much as predicted by linear Phillips curves, a phenomenon known as the missing disinflation. We estimate a piecewise-linear specification and...

Persistent link: https://www.econbiz.de/10011764570

Labor Market Search, Wage Bargaining and Inflation Dynamics

Trigari, Antonella - 2004

This paper integrates a theory of equilibrium unemployment into a monetary model with nominal price rigidities. The model is used to study the dynamic response of the economy to a monetary policy shock. The labor market displays search and matching frictions and bargaining over real wages and...

Persistent link: https://www.econbiz.de/10014069816

Endogenous growth, skill obsolescence and output hysteresis in a New Keynesian model with unemployment

Lechthaler, Wolfgang; Tesfaselassie, Mewael F. - 2020

We embed human capital-based endogenous growth into a New-Keynesian model with search and matching frictions in the labor market and skill obsolescence from long-term unemployment. The model can account for key features of the Great Recession: a decline in productivity growth, the relative...

Persistent link: https://www.econbiz.de/10012269664

Uncertainty Shocks and Inflation Dynamics in the US

Haque, Qazi; Magnusson, Leandro M. - 2020

We estimate a time-varying parameter VAR (TVP-VAR) with stochastic volatility using post- WWII U.S. data to study the effects of uncertainty shocks on inflation. We find the response of inflation to be statistically insignificant until mid-to-late 1990s and negative thereafter. Our findings...

Persistent link: https://www.econbiz.de/10014090743