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A reappraisal of the inflation-unemployment tradeoff

Karanassou, Marika; Sala, Héctor; Snower, Dennis J. - In: European journal of political economy 21 (2005) 1, pp. 1-32

This paper offers a reappraisal of the inflation-unemployment tradeoff, based on ?frictional growth,? describing the interplay between nominal frictions and money growth. When the money supply grows in the presence of price inertia (due to staggered wage contracts with time discounting), the...

Persistent link: https://www.econbiz.de/10010313770

Hyperbolic discounting and the Phillips curve

Graham, Liam; Snower, Dennis J. - In: Journal of money, credit and banking 40 (2008) 2/3, pp. 427-448

Persistent link: https://www.econbiz.de/10010313811

The Possible Unemployment Cost of Average Inflation Below a Credible Target. A Replication Study of Svensson (American Economic Journal: Macroeconomics, 2015)

Oraby, Ramy - In: Journal of Comments and Replications in Economics (JCRE) 1 (2022) 2022-2, pp. 1-21

This paper replicates the main analysis of Svensson (2015) with some expansion to the original analysis, mainly for the United States. Overall, the replication exercise successfully confirms the conclusions of Svensson (2015). In both Sweden and the United States, empirical evidence sup- ports...

Persistent link: https://www.econbiz.de/10013190400

Korea's Inflation Expectations with regard to the Phillips Curve and Implications of the COVID-19 Crisis

Jung, Kyu-Chul - In: KDI Journal of Economic Policy 43 (2021) 2, pp. 81-101

This paper estimates the expectation-augmented Phillips curve, which explains inflation dynamics, in Korea. The phenomenon of low inflation in Korea has been going on for quite some time, in particular since 2012. During the Covid-19 crisis, due to low inflation expectations the operation of...

Persistent link: https://www.econbiz.de/10012594694

Currency Unions, the Phillips Curve, and Stabilization Policy: Some Suggestions for Europe

Palley, Thomas I. - In: Intervention. Zeitschrift fuer Ökonomie / Journal of … 03 (2006) 2, pp. 351-369

This paper examines the implications of a currency union for monetary policy. The formation of a currency union worsens the inflation-unemployment tradeoff, so that leaving the inflation target unchanged at its pre-currency union level generates increased unemployment. Geographically based...

Persistent link: https://www.econbiz.de/10014362991

Unemployment as a Target for Central Banks? The Case of Hysteresis

Belke, Ansgar - In: Credit and Capital Markets – Kredit und Kapital 51 (2018) 4, pp. 587-619

durch die Geldpolitik, zu einer Umkehr dieser Effekte beitrug. Der Hysterese-Ansatz nach Blanchard und Summers sollte jedoch … nicht wörtlich genommen und eins zu eins in Empfehlungen für die Geldpolitik aufgehen. Lediglich auf die harte Form der … werden. Sie lassen in der Tat Spielraum für die Geldpolitik, aber auf etwas komplexere Weise. Falls die …

Persistent link: https://www.econbiz.de/10014524305

Modeling which factors impact interest rates

Wang, Guizhou; Hausken, Kjell - In: Journal of Central Banking Theory and Practice 12 (2023) 2, pp. 211-237

The Taylor (1993) rule for determining interest rates is generalized to account for three additional variables: The money supply, money velocity, and the unemployment rate. Thus, five parameters, i.e. weights assigned to the deviation in the inflation rate, the deviation in real GDP (Gross...

Persistent link: https://www.econbiz.de/10014558406

Immigration Policies: Competing for Skills

Ochel, Wolfgang - In: CESifo Forum 01 (2000) 4, pp. 27-33

Persistent link: https://www.econbiz.de/10011695639

Higher Education Financing in Australia

Chapman, Bruce - In: CESifo DICE Report 05 (2007) 2, pp. 55-61

Persistent link: https://www.econbiz.de/10011696617

Learning from Other Economies - for example from Somewhere Down Under

Freeman, Richard B. - In: CESifo DICE Report 05 (2007) 3, pp. 33-37

Persistent link: https://www.econbiz.de/10011696622

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