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Nonlinear unemployment effects of the inflation tax

Lahcen, Mohammed Ait; Baughman, Garth; Rabinovich, Stanislav - 2021 - This version: June 3, 2021

We argue that long-run inflation has nonlinear and state-dependent effects on unemployment, output, and welfare. Using … anticipated inflation and unemployment. Second, there is also a positive correlation between anticipated inflation and … unemployment volatility. Third, the long-run inflation-unemployment relationship is not only positive, but also stronger when …

Persistent link: https://www.econbiz.de/10012625516

Nonlinear unemployment effects of the inflation tax

Lahcen, Mohammed Ait; Baughman, Garth; Rabinovich, Stanislav - 2021

Persistent link: https://www.econbiz.de/10012631633

New Trade Theory Takes Over Monetary Theory

Gani, M - EconWPA - 2004

Prevailing trade theory is a neglected stepchild of economics. Micro rejects the sole reason for trade’s occurrence. It declares zero profit in equilibrium. Monetary theory and macroeconomics dismiss concerns of trade financing. They assert that money has nothing to do with traded output, but...

Persistent link: https://www.econbiz.de/10005408069

Exchange Rates, Energy Prices, Unemployment, Money, and Inflation: A Further Test

Black, Robert A.; Benzing, Cindy - In: Eastern Economic Journal 17 (1991) 2, pp. 189-197

Persistent link: https://www.econbiz.de/10005641743

A Test of Fischer's Theory of Monetary Misperceptions and the Business Cycle in the Presence of Long-Term Contracts

Bischoff, Charles W.; Hine, Steven C. - In: Eastern Economic Journal 18 (1992) 1, pp. 99-110

This article uses multi-period ex ante anticipations of money supply growth to estimate the parameters of a model, suggested by Stanley Fischer, in which money affects real variables only through multi-period errors in anticipations. This model is tested against an alternative, first evaluated...

Persistent link: https://www.econbiz.de/10005769828

Money Creation, Employment and Economic Stability: The Monetary Theory of Unemployment and Inflation

Parguez, Alain - In: Panoeconomicus 55 (2008) 1, pp. 39-67

This paper by building on the general theory of the monetary circuit, proves that money-as a pure bank credit liability-exists to overcome constraints on required expenditures by firms, household and mainly the State. From this perspective the paper derives the employment function in the modern...

Persistent link: https://www.econbiz.de/10008554148

Equality of Demand and Supply Neither Determines Price Nor Clears the Market

Gani, Mohammad - EconWPA - 2004

The belief that equality of demand and supply determines price and clears the market is universal. Shockingly, this belief is unfounded. It contradicts macro’s claim that equality of demand and supply determines output. It contradicts (new) monetary theory, which claims that equality of demand...

Persistent link: https://www.econbiz.de/10005413280

On Gluts, Effective Demand, and the True Meaning of Say's Law

Jonsson, Petur O. - In: Eastern Economic Journal 23 (1997) 2, pp. 203-218

The meaning of Say's Law may seem an issue of little relevance to economists today. It would seem, on the face of it, of interest only to historians of economics. Whatever Say's Law might mean, the one thing we economists know, or at least think we know, is that it was comprehensively refuted by...

Persistent link: https://www.econbiz.de/10005641757

Naturalizing institutions : evolutionary principles and application on the case of money

Herrmann-Pillath, Carsten - In: Jahrbücher für Nationalökonomie und Statistik 234 (2014) 2/3, pp. 388-421

Persistent link: https://www.econbiz.de/10010344935

Institutional naturalism : reflections on Masahiko Aoki's contribution to institutional economics

Herrmann-Pillath, Carsten - In: Evolutionary and institutional economics review 14 (2017) 2, pp. 501-522

Persistent link: https://www.econbiz.de/10011770394