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Neues von der NAIRU? / News from the NAIRU?
Franz, Wolfgang - In: Jahrbücher für Nationalökonomie und Statistik 221 (2001) 3, pp. 256-284
Summary This paper is devoted to a new estimation of the non-accelerating inflation rate of unemployment (NAIRU) for …
Persistent link: https://www.econbiz.de/10014608832
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Money, Inflation and Growth in Germany. A Vector-Error-Correction-P-Star Model / Der Zusammenhang zwischen Geldmenge, Output und Preisen in Deutschland. Ein Vektorfehlerkorrektur-P...
Clostermann, Jörg; Seitz, Franz - In: Jahrbücher für Nationalökonomie und Statistik 222 (2002) 6, pp. 641-655
Summary The present paper uses the P-Star approach to analyze the real and price effects of German monetary policy on the basis of a multivariate vector-error-correction-model. One surprising result is that the Bundesbank does not cause the price effects of its monetary policy actions directly...
Persistent link: https://www.econbiz.de/10014608908
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Potenziale und Grenzen eines nutzenbasierten ökonomischen Leitbildes für die amtliche Inflationsmessung / What Role Should Economic Reasoning Play in the Compilation of the Officia...
Auer, Ludwig von - In: Jahrbücher für Nationalökonomie und Statistik 225 (2005) 3, pp. 27-46
Verfügung. Letztlich muss die offizielle Inflation deshalb auf Basis eines statistischen Preisindex (SP) berechnet werden. Bei …
Persistent link: https://www.econbiz.de/10014609046
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``To Furnish an Elastic Currency'': Banking, Aggregate Risk, and Welfare
Loewy, Michael B. - In: Topics in Macroeconomics 3 (2003) 1
The Federal Reserve Act calls upon the newly created Banks "... to furnish an elastic currency..." since such action was thought to be welfare improving during times of high currency demand. This paper considers the welfare implications of an "elastic currency" regime within the context of an...
Persistent link: https://www.econbiz.de/10014588343
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What Caused the Great Recession?
Homburg, Stefan - In: Review of Economics 66 (2015) 1, pp. 1-12
Abstract This paper examines five possible explanations for the Great Recession of 2008 and 2009, using data for the United States and the eurozone. Of these five hypotheses, four are not supported by the data, while the fifth appears reasonable.
Persistent link: https://www.econbiz.de/10014619313
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Central bank’s perception on inflation and inflation expectations of experts
Montes, Gabriel Caldas; Nicolay, Rodolfo Tomás da Fonseca - In: Journal of Economic Studies 42 (2015) 6, pp. 1142-1158
are few studies related to the influence that central bank’s perspectives about the state of the economy have on inflation … proposes an indicator of the central bank’s perception of inflation based on the minutes of the COPOM meetings, and, it … analyzes the influence of central bank communication on expert inflation expectations through such indicator. Design …
Persistent link: https://www.econbiz.de/10014864365
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The bridge between macro and micro banking regulation
De Moraes, Claudio Oliveira; de Mendonça, Helder Ferreira - In: Journal of Economic Studies 44 (2017) 2, pp. 214-225
Purpose The purpose of this paper is to discuss more efficient mechanisms of regulation in the financial system. Design/methodology/approach The authors developed a theoretical two-period model of financial flows (FFs) that considers households, banks, and a social planner. Findings It is...
Persistent link: https://www.econbiz.de/10014864511
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Effects of reputation and credibility on monetary policy: theory and evidence for Brazil
Caldas Montes, Gabriel; Cesar Albuquerque Bastos, Julio - In: Journal of Economic Studies 41 (2014) 3, pp. 387-404
credibility of the regime of inflation targeting are important to reduce the inflation bias and the effort of the monetary … that credibility is important to reduce both the inflation bias and the efforts of the monetary authority in the conduct of … demonstrates that the gain of reputation improves credibility, but also that attempts to exploit the output-inflation trade …
Persistent link: https://www.econbiz.de/10014864629
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Implications of Changes in Men's and Women's Labor Force Participation for Real Compensation Growth and Inflation
Anderson, Katharine; Barrow, Lisa; Butcher, Kristin F. - In: The B.E. Journal of Economic Analysis & Policy 5 (2005) 1
Abstract During the 1990s economic expansion, the United States enjoyed both low inflation and low unemployment. Juhn … whether Phillips curve relationships between real compensation growth, changes in inflation, and labor market slackness are … labor market slackness do as well as men’s in explaining real compensation growth and changes in inflation after 1983.  …
Persistent link: https://www.econbiz.de/10014586835
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Ramsey-Friedman Optimality with Banking Time
Gillman, Max K; Yerokhin, Oleg - In: Topics in Macroeconomics 5 (2005) 1
Abstract This paper conducts a Ramsey analysis within an endogenous growth cash-in-advance economy with policy commitment. Credit and money are alternative payment mechanisms that act as inputs into the household production of exchange. The credit is produced with a diminishing returns...
Persistent link: https://www.econbiz.de/10014588364