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Relationships between inflation and unemployment in the United States, Japan and Germany during the economic crisis caused by the COVID-19 pandemic
Grabia, Tomasz; Bywalec, Grzegorz - In: Comparative economic research : Central and Eastern Europe 27 (2024) 2, pp. 29-47
The aim of the article is to clarify the controversies surrounding the relationship between inflation and unemployment in the three most economically significant countries in the world (apart from China), namely the United States, Japan, and Germany, during the coronavirus pandemic (from January...
Persistent link: https://www.econbiz.de/10015063564
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Raising an inflation target : the Japanese experience with abenomics
De Michelis, Andrea; Iacoviello, Matteo - 2016
This paper draws from Japan's recent monetary experiment to examine the effects of an increase in the inflation target during a liquidity trap. We review Japanese data and examine through a VAR model how macroeconomic variables respond to an identified inflation target shock. We apply these...
Persistent link: https://www.econbiz.de/10011563011
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Raising an Inflation Target : The Japanese Experience with Abenomics
De Michelis, Andrea - 2016
This paper draws from Japan's recent monetary experiment to examine the effects of an increase in the inflation target during a liquidity trap. We review Japanese data and examine through a VAR model how macroeconomic variables respond to an identified inflation target shock. We apply these...
Persistent link: https://www.econbiz.de/10013210410
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The NAIRU and the Extent of the Low-Pay Sector
Garz, Marcel - 2010
unemployment (NAIRU) is used. In a first step, the unobservable, exogenous NAIRU is estimated for Germany in a state space setting … the low-pay sector. Finally, by treating the NAIRU as the dependent variable, the impact of the low-wage share is … relationship between the NAIRU and the share of the low-wage sector. This hypothesis is rejected empirically. Indeed, for the time …
Persistent link: https://www.econbiz.de/10010460495
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The NAIRU and the extent of the low-pay sector
Garz, Marcel - 2010
unemployment (NAIRU) is used. In a first step, the unobservable, exogenous NAIRU is estimated for Germany in a state space setting … the low-pay sector. Finally, by treating the NAIRU as the dependent variable, the impact of the low-wage share is … relationship between the NAIRU and the share of the low-wage sector. This hypothesis is rejected empirically. Indeed, for the time …
Persistent link: https://www.econbiz.de/10009306634
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Natural rate estimates differ : by how much?
Bethencourt, Carlos; Stadtmann, Georg - 2019
We examine the natural rate of unemployment estimates of two international organizations (OECD and European Commission) and various release dates. Since estimates differ to a large extent, empirical research results which use natural rate estimates will also vary depending on the data source...
Persistent link: https://www.econbiz.de/10011970932
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Testing the Monetary Policy Implications of the Accelerationist Phillips Curve
Herz, Bernhard - 2007
The issue of the backward-looking versus the forward-looking Phillips curve is still an open question in the macroeconomics profession. We identify the real output effects of monetary policy shocks as a crucial implication of the traditional Phillips curve. The backward-looking Phillips curve...
Persistent link: https://www.econbiz.de/10012776423
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Cross-section dependence and the monetary exchange rate model : a panel analysis
Beckmann, Joscha; Belke, Ansgar; Dobnik, Frauke - 2011
This paper tackles the issue of cross-section dependence for the monetary exchange rate model in the presence of unobserved common factors using panel data from 1973 until 2007 for 19 OECD countries. Applying a principal component analysis we distinguish between common factors and idiosyncratic...
Persistent link: https://www.econbiz.de/10009426693
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Persistent Imbalances : The Impact of Exchange Rate Appreciation on China's Trade Balances
Dimpfl, Thomas - 2019
China's trade surplus is often heavily criticized in political and economic debates, accompanied by claims for a revaluation of the Chinese currency, the Renminbi (RMB). While the main arguments exchanged in the current discourse appear to become more and more emotionally loaded rather than...
Persistent link: https://www.econbiz.de/10012899706
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Cross-section dependence and the monetary exchange rate model : a panel analysis
Beckmann, Joscha; Belke, Ansgar; Dobnik, Frauke - 2011
This paper tackles the issue of cross-section dependence for the monetary exchange rate model in the presence of unobserved common factors using panel data from 1973 until 2007 for 19 OECD countries. Applying a principal component analysis we distinguish between common factors and idiosyncratic...
Persistent link: https://www.econbiz.de/10010209430