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Wage bargaining and monetary policy in a Kaleckian monetary distribution and growth model: trying to make sense of the NAIRU
Hein, Eckhard - 2005
Arbeit die Rolle einer Non-Accelerating-Inflation-Rate-of-Unemployment (NAIRU) analysiert. Die kurzfristige Stabilität der … NAIRU wird untersucht, indem die Effekte von steigenden oder fallenden Inflationsraten auf die Realschuld des … Zinssatzänderungen untersucht. Das Problem der langfristigen Endogenität der NAIRU wird ebenfalls thematisiert, indem die …
Persistent link: https://www.econbiz.de/10003744527
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The effects of monetary policy on unemployment dynamics under model uncertainty : evidence from the US and the euro area ( by Carlo Altavilla and Matteo Ciccarelli
Altavilla, Carlo; Ciccarelli, Matteo - 2009
This paper explores the role that the imperfect knowledge of the structure of the economy plays in the uncertainty surrounding the effects of rule-based monetary policy on unemployment dynamics in the euro area and the US. We employ a Bayesian model averaging procedure on a wide range of models...
Persistent link: https://www.econbiz.de/10003963762
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The effects of monetary policy on unemployment dynamics under model uncertainty : evidence from the US and the Euro area
Altavilla, Carlo; Ciccarelli, Matteo - 2009
This paper explores the role that the imperfect knowledge of the structure of the economy plays in the uncertainty surrounding the effects of rule-based monetary policy on unemployment dynamics in the euro area and the US. We employ a Bayesian model averaging procedure on a wide range of models...
Persistent link: https://www.econbiz.de/10003813633
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The Effects of Monetary Policy on Unemployment Dynamics under Model Uncertainty - Evidence from the US and the Euro Area
Altavilla, Carlo - 2013
This paper explores the role that the imperfect knowledge of the structure of the economy plays in the uncertainty surrounding the effects of rule-based monetary policy on unemployment dynamics in the euro area and the US. We employ a Bayesian model averaging procedure on a wide range of models...
Persistent link: https://www.econbiz.de/10012753184
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The Effects of Monetary Policy on Unemployment Dynamics Under Model Uncertainty : Evidence from the US and the Euro Area
Altavilla, Carlo; Ciccarelli, Matteo - 2021
This paper explores the role that the imperfect knowledge of the structure of the economy plays in the uncertainty surrounding the effects of rule-based monetary policy on unemployment dynamics in the euro area and the US. We employ a Bayesian model averaging procedure on a wide range of models...
Persistent link: https://www.econbiz.de/10013316324
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Looking through supply shocks versus controlling inflation expectations: Understanding the Central Bank dilemma
Beaudry, Paul; Carter, Thomas J.; Lahiri, Amartya - 2022
Central banks in most advanced economies have reacted similarly to the increase in inflation that started in 2021. They initially looked through the rising inflation by leaving monetary policy relatively unchanged. Then, after inflation continued to increase, central banks pivoted by quickly...
Persistent link: https://www.econbiz.de/10014304188
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A Post Keynesian Review of Modern Monetary Theory
Túñez Area, Narciso - 2020
Modern Monetary Theory has lately received much attention but also a fair amount of criticisms. The intention of this paper is to review the main arguments in contention to assess the validity of the arguments put forward and the limitations of its policies. Modern Monetary Theory questions...
Persistent link: https://www.econbiz.de/10012837299
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Layoff Risk, the Welfare Cost of Business Cycles, and Monetary Policy
Berger, David - 2019
The strongest predictor of changes in the Fed Funds rate in the period 1982–2008 was the layoff rate. That fact is puzzling from the perspective of representative-agent models of the economy, which imply that the welfare gains of stabilizing employment fluctuations are small. This paper...
Persistent link: https://www.econbiz.de/10012903995
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Inclusive monetary policy : how tight labor markets facilitate broad-based employment growth
Bergman, Nittai K.; Matsa, David A.; Weber, Michael - 2022
This paper analyzes the heterogeneous effects of monetary policy on workers with differing 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...
Persistent link: https://www.econbiz.de/10012798170
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Heterogeneous Labor Market Effects of Monetary Policy
Bergman, Nittai; Matsa, David A.; Weber, Michael - 2021
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...
Persistent link: https://www.econbiz.de/10013252223