commiting to keep interest rates low at the exit of the liquidity trap, to stabilize inflation today. 2. From debt … consolidated budget) monetary policy becomes subservient to fiscal policy, giving rise to more volatile inflation, output and … interest rates. Liquidity trap (LT) episodes are longer, however, the impact of interest rate policy commitments on inflation …

inflation and deflationary biases in inflation expectations. In a model with an occasionally binding zero-lower-bound constraint …, we show that an inflation bias as well as a deflationary bias exist as a steady-state outcome. We assess the predictions … of this model using unique individual-level inflation expectations data across nine countries that allow for a direct …

partners in the marriage market and switch between employment and unemployment in the labor market. In the marriage market … labor market divorces triggered by unemployment has decreased significantly. …

inflation volatility. …

The present paper studies the effect of monetary policy on inflation and output within a New Keynesian model with … transmission in two ways. First, the impact response of inflation and output to monetary policy shocks is less pronounced since the … response of expectations under EBL is muted. Second, the response of inflation is more persistent, since the interest rate …

countries in EU. Although virulent discrimination does not occur on the Romanian labor market, this phenomenon may delay the … main forms of discrimination at the regional level based on the following indicators: the Duncan Index at local level; rate … discrimination by sex, nationality, and age; wage gap and occupational segregation by gender. They will also assess the effects of …