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inflation in the 2020s. Economic slack is measured as firms' job vacancies over the number of unemployed workers. After showing …. Policy implications include the thesis that appropriate monetary policy can bring inflation down without a significant …
Persistent link: https://www.econbiz.de/10014250214
This paper examines the role of inflation expectations in Solomon Islands, a Pacific Island Country, using the Hybrid … matter for inflation. Fuel prices and output gap are important indicators of current inflation. The study highlights key … through effect onto domestic prices. Studies on the role of inflation expectations in small, open, economies of the Pacific …
Persistent link: https://www.econbiz.de/10012628568
hyperbolic discounting leads to inflation having significant long-run effects on real variables. …
Persistent link: https://www.econbiz.de/10010272966
A growing body of empirical evidence shows that there exists a long-run positive tradeoff between inflation and real … between inflation and output. …
Persistent link: https://www.econbiz.de/10010273150
The paper extends the efficiency wages Phillips curve from a closed economy context to an open economy one with both commodity trade and capital mobility. Opening the trade account does not alter the slope of the Phillips curve, but it makes its position a function of the change of foreign and...
Persistent link: https://www.econbiz.de/10010277343
The present paper explores the connection between inflation and unemployment in different models with fair wages both … function, more inflation lowers the unemployment rate, though to a declining extent. This is because firms respond to inflation … inflation on effort. A stronger effect of nflation on unemployment is also produced under varying as opposed to fixed capital …
Persistent link: https://www.econbiz.de/10010277344
We consider the effect of money illusion - defined referring to Stevens' ratio estimation function - on the long-run Phillips curve in an otherwise standard New Keynesian model of sticky wages. We show that if households under-perceive real economic variables, negative money...
Persistent link: https://www.econbiz.de/10010277352
hyperbolic discounting leads to inflation having significant long-run effects on real variables... …
Persistent link: https://www.econbiz.de/10005859701
The present paper explores the connection between inflation and unemployment in different models with fair wages both … function, more inflation lowers the unemployment rate, though to a declining extent. This is because firms respond to inflation … inflation on effort. A stronger effect of nflation on unemployment is also produced under varying as opposed to fixed capital …
Persistent link: https://www.econbiz.de/10009244389
reactiveness of inflation to the unemployment rate. In regard to a monetary union, the national unemployment multiplier in the …
Persistent link: https://www.econbiz.de/10010238840