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The original Keynesian paradigm differs from the Neoclassical Synthesis and even more so from the New-Keynesian approach. In this paper, a modern framework for the original Keynesian paradigm is presented. It will highlight the key elements of the paradigm. A model is developed to determine...
Persistent link: https://www.econbiz.de/10009756278
This paper seeks to identify what worked and what didn't work to stop inflation in Argentina in the last seventy years …
Persistent link: https://www.econbiz.de/10011697482
In the present paper we question the mainstream diagnosis of Germany's post-2000 stagnation as well as the prescribed remedies. We show that the "institutional sclerosis" view of Germany's stagnation is unfounded and that therefore the political measures proposed and actually taken are...
Persistent link: https://www.econbiz.de/10003744530
conditions, characterized by higher and more stable real per-capita growth rates, and lower and more stable inflation. This paper … complemented by better exchange rate management (resulting in lower exchange rate and inflation volatility) and more fiscal …
Persistent link: https://www.econbiz.de/10013336273
global economic environment deteriorates. Inflation will likely continue to be elevated in 2022 but may still fall within the … persistently high inflation, an uncertain business environment, and a possible downturn in the world's major economies. The paper …
Persistent link: https://www.econbiz.de/10014476021
inflation by using a Nonlinear ARDL (NARDL) model, which is compared to a benchmark linear ARDL one. Using monthly data from the …, especially negative ones, have a stronger impact on inflation than OPU ones and capture some of the monetary policy uncertainty …, thereby reducing the direct effect of interest rate changes on inflation. Since EPU shocks reflect, at least to some extent …
Persistent link: https://www.econbiz.de/10013543029
The original Keynesian paradigm differs from the Neoclassical Synthesis and even more so from the New-Keynesian approach. In this paper, a modern framework for the original Keynesian paradigm is presented. It will highlight the key elements of the paradigm. A model is developed to determine...
Persistent link: https://www.econbiz.de/10010314657
This paper seeks to identify what worked and what didn't work to stop inflation in Argentina in the last seventy years …
Persistent link: https://www.econbiz.de/10011810926
In a new Keynesian model with random search in the labor market, endogenous selection among heterogeneous workers amplifies fluctuations in unemployment and results in excess unemployment volatility relative to the efficient allocation. Recessions disproportionately affect lowproductivity...
Persistent link: https://www.econbiz.de/10012659972
What explains the cross-national variation in inflation rates in developed countries? Previous literature has … matters for inflation: the share of the population above 65 years old in a country. I argue that countries with a larger share … of elderly have lower inflation because older people are both more inflation averse and politically powerful, forcing …
Persistent link: https://www.econbiz.de/10015070648