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A Phillips Curve for China
Scheibe, Jörg; Vines, David - C.E.P.R. Discussion Papers - 2005
This paper models Chinese inflation using an output gap Phillips curve. Inflation modelling for the world’s sixth … curve for China and show that the output gap, the exchange rate, and inflation expectations play important roles in … explaining inflation. We adjust for structural change in the economy where possible and estimate regressions for rolling sample …
Persistent link: https://www.econbiz.de/10005656372
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Foreign price shocks and inflation targeting : effects on income and inflation inequality
Rolim, Lilian; Marins, Nathalie - 2023
Foreign price shocks have significant effects on functional income distribution and on inflation inequality. By ….g. food prices for low-wage workers). Based on the conflicting-claims inflation literature, we propose a new extension to this … with an inflation-targeting regime. We investigate the impacts of foreign price shocks on income and inflation inequality …
Persistent link: https://www.econbiz.de/10013553408
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On the (in-)stability and the endogeneity of the "normal" rate of capacity utilisation in a post-Keynesian/Kaleckian "monetary" distribution and growth model
Hein, Eckhard - 2006
. Since inflation in our model is driven by distribution conflict, the "normal rate" of utilisation is associated with … consistent claims of firms and employees. Taking into account real debt effects of changes in inflation and distribution effects … Inflation in unserem Modell durch Verteilungskonflikte verursacht wird, ist der normale Auslastungsgrad durch miteinander …
Persistent link: https://www.econbiz.de/10003744529
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Foreign price shocks and inflation targeting: Effects on income and inflation inequality
Rolim, Lilian; Marins, Nathalie - 2023
Foreign price shocks have significant effects on functional income distribution and on inflation inequality. By ….g. food prices for low-wage workers). Based on the conflicting-claims inflation literature, we propose a new extension to this … with an inflation-targeting regime. We investigate the impacts of foreign price shocks on income and inflation inequality …
Persistent link: https://www.econbiz.de/10014000446
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A Theory of Non-Coasean Labor Markets
Blanco, Andrés; Drenik, Andres; Moser, Christian; … - 2023
We develop a theory of labor markets in a monetary economy with four realistic features: search frictions, worker productivity shocks, wage rigidity, and two-sided lack of commitment. Due to the non-Coasean nature of labor contracts, inefficient job separations occur in the form of endogenous...
Persistent link: https://www.econbiz.de/10014296865
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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 - In: Intervention. Zeitschrift fuer Ökonomie / Journal of … 03 (2006) 2, pp. 305-329
In a Kaleckian monetary distribution and growth model with conflict inflation we assess the role of a Non …-Accelerating Inflation Rate of Unemployment (NAIRU). The short-run stability of a NAIRU is examined taking into account real debt effects of … accelerating and decelerating inflation, and the short-run effectiveness of monetary policy interventions applying the interest …
Persistent link: https://www.econbiz.de/10014362989
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A view on post-Keynesian interest rate policy
Argitis, Giorgos - In: Intervention. European Journal of Economics and … 08 (2011) 1, pp. 91-112
the reaction of post-Keynesian economists to examine alternatives to inflation-targeting monetary strategies and to Taylor …
Persistent link: https://www.econbiz.de/10014363113
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Fiscal and monetary policy for difficult times: MMT solutions
Leclaire, Joëlle - In: European Journal of Economics and Economic Policies: … 20 (2023) 2, pp. 356-368
This article considers the current economic situation from the lens of modern money theory (MMT) and expresses a policy response rooted in post-Keynesian theory and empirical data for the US and the euro area. First, MMT supports targeted deficit spending to promote production. Increasing...
Persistent link: https://www.econbiz.de/10014481020
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On the (in-)stability and the endogeneity of the "normal" rate of capacity utilisation in a post-Keynesian/Kaleckian "monetary" distribution and growth model
Hein, Eckhard - 2006
. Since inflation in our model is driven by distribution conflict, the 'normal rate' of utilisation is associated with … consistent claims of firms and employees. Taking into account real debt effects of changes in inflation and distribution effects …
Persistent link: https://www.econbiz.de/10010460437
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Leaning against the wind policies on Vietnam's economy with DSGE model
Huynh, Phuc; Nguyen, Trang; Duong, Thanh; Pham, Duc - In: Economies 5 (2017) 1, pp. 1-18
The global financial crisis of 2007-2008 had a negative impact on many countries, including Vietnam. Many policies have been applied to stabilize the macro-economic indicators. However, most of them are based on old qualitative models, which do not help policy makers understand deeply how each...
Persistent link: https://www.econbiz.de/10011708742