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Real wage rigidities, fiscal policy, and the stability of EMU in the transition phase
Berthold, Norbert - 1998
EMU, e.g. due to further rising unemployment, become too large to bear. …
Persistent link: https://www.econbiz.de/10010496610
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Real wage rigidities, fiscal policy, and the stability of EMU in the transition phase
Berthold, Norbert - 1998
EMU, e.g. due to further rising unemployment, become too large to bear. …
Persistent link: https://www.econbiz.de/10010332987
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Labor market institutions and the business cycle Unemployment rigidities vs. real wage rigidities
Abbritti, Mirko; Weber, Sebastian - 2010
This paper investigates the importance of labor market institutions for inflation and unemployment dynamics. Using the … Unemployment Rigidities (UR) and those that cause Real Wage Rigidities (RWR). The two types of institutions have opposite effects … and their interaction is crucial for the dynamics of inflation and unemployment. We estimate a panel VAR with …
Persistent link: https://www.econbiz.de/10011605229
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The Inflation-Output Tradeoff: Which Type of Labor Market Rigidity Is to Be Blamed?
Merkl, Christian - Institut für Weltwirtschaft (IfW) - 2009
In the standard New Keynesian sticky price model the central bank faces no contradiction between the stabilization of inflation and the stabilization of the welfare relevant output gap after a productivity shock hits the economy. When the standard model is enhanced by real wage rigidities or...
Persistent link: https://www.econbiz.de/10005566197
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Fiscal transfers in a monetary union with exit option
Hefeker, Carsten; Neugart, Michael - 2015
It is widely debated whether a monetary union has to be accompanied by a fiscal transfer scheme to accommodate asymmetric shocks. We build a model of a monetary union with a central bank and two heterogeneous countries that are linked by a fiscal transfer scheme with repercussions on monetary...
Persistent link: https://www.econbiz.de/10010492336
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Makroökonomische Bedingungen für die Rückkehr zur Vollbeschäftigung: Plädoyer für einen mehrdimensionalen Ansatz
Fritsche, Ulrich; Klaer, Erik; Slacalek, Jirka; … - 2007
Das Papier untersucht die makroökonomischen Determinanten der Arbeitslosigkeit. Dabei werden die Argumente neoklassisch-monetaristischer, neukeynesianischer und postkeynesianischer Provinienz auf ihren Gehalt sowohl theoretisch wie empirisch überprüft. Das Hauptgewicht der Analyse wird auf...
Persistent link: https://www.econbiz.de/10010420826
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Makroökonomische Bedingungen für die Rückkehr zur Vollbeschäftigung: Plädoyer für einen mehrdimensionalen Ansatz
Fritsche, Ulrich; Klaer, Erik; Slacalek, Jirka; … - Fachbereich Sozialökonomie, Universität Hamburg - 2006
Das Papier untersucht die makroökonomischen Determinanten der Arbeitslosigkeit. Dabei werden die Argumente neoklassisch-monetaristischer, neukeynesianischer und postkeynesianischer Provinienz auf ihren Gehalt sowohl theoretisch wie empirisch überprüft. Das Hauptgewicht der Analyse wird auf...
Persistent link: https://www.econbiz.de/10005405232
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Can the Euro Be Saved? An Analysis of the Future of the Currency Union
Stiglitz, Joseph E. - In: Rivista di Politica Economica (2014) 3, pp. 7-42
Following the Great Recession, eurozone countries have performed worse than even the currency union’s most pessimistic critics had predicted. The paper identifies the strong fundamental flaws in the design of the eurozone and proposes a set of reforms, both in the structure of the eurozone and...
Persistent link: https://www.econbiz.de/10010942359
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It takes two to tango : a reply to our MMT critics
Drumetz, Françoise; Pfister, Christian - In: European journal of economics and economic policies : … 20 (2023) 1, pp. 78-89
We reply to the critics who contributed the other papers in the same issue of this journal. In the first part of the article, we indicate those remarks addressed to us, which we deem inappropriate to answer. The second part deals with the remarks we find useful to answer, which relate to money,...
Persistent link: https://www.econbiz.de/10014433718
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It takes two to tango: a reply to our MMT critics
Drumetz, Françoise; Pfister, Christian - In: European Journal of Economics and Economic Policies: … 20 (2023) 1, pp. 78-89
We reply to the critics who contributed the other papers in the same issue of this journal. In the first part of the article, we indicate those remarks addressed to us, which we deem inappropriate to answer. The second part deals with the remarks we find useful to answer, which relate to money,...
Persistent link: https://www.econbiz.de/10014441467