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Hysteresis and Emu
Cross, Rod - 2001
We consider how differences between the way firms react to a common monetary policy affect the performance of a monetary union. A model is presented in which heterogeneous firms respond discontinuously to monetary shocks. The implication is that the level of economic activity has a selective...
Persistent link: https://www.econbiz.de/10014143358
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Secular stagnation, unemployment hysteresis and monetary policy in EMU : scratches but not scars?
Belke, Ansgar - In: The Economists' voice 15 (2018) 1, pp. 1-14
Persistent link: https://www.econbiz.de/10011964904
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Essays on international price rigidities and exchange rates
Aksoy, Yunus - 2000
Persistent link: https://www.econbiz.de/10001622647
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A theory of economic policy lock-in and lock-out via hysteresis: rethinking economists' approach to economic policy
Palley, Thomas I. - 2017
This paper uses hysteresis to develop the concept of policy lock-in and lock-out. Policy changes may near … new issues for optimal policy design. It also offers insights into economic and political crisis theory. Policy lock-in is …
Persistent link: https://www.econbiz.de/10011669507
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A theory of economic policy lock-in and lock-out via hysteresis : rethinking economists' approach to economic policy
Palley, Thomas I. - 2016
thinking about policy compared to conventional macroeconomic stabilization theory. The latter treats policy as a dial which is …
Persistent link: https://www.econbiz.de/10011572435
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The impact of the European Monetary Union on inflation persistence in the Euro area
Meller, Barbara; Nautz, Dieter - 2009
This paper uses the European Monetary Union (EMU) as a natural experiment to investigate whether more effective monetary policy reduces the persistence of inflation. Taking into account the fractional integration of inflation, we confirm that inflation dynamics differed considerably across Euro...
Persistent link: https://www.econbiz.de/10003871762
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Nicht zu früh bremsen! : der Einfluss der Geldpolitik auf die langfristige Wirtschaftsentwicklung in Deutschland und den USA
Schettkat, Ronald; Sun, Rongrong - 2009
Neutralität von Geldpolitik wurde diese bei der Suche nach den Ursachen europäischer Arbeitslosigkeit verschont. Tatsächlich … Arbeitsmarktinstitutionen. Wir argumentieren, dass das Zusammenwirken negativer Schocks und einer restriktiven Geldpolitik die wesentliche –wenn … Europa war. Die Bundesbank –Europas „Zentralbank“ vor Etablierung der EZB- hat eine asymmetrische Geldpolitik in dem Sinne …
Persistent link: https://www.econbiz.de/10003836155
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The impact of the European Monetary Union on inflation persistence in the euro area
Meller, Barbara; Nautz, Dieter - 2009
This paper uses the European Monetary Union (EMU) as a natural experiment to investigate whether more effective monetary policy reduces the persistence of inflation. Taking into account the fractional integration of inflation, we confirm that inflation dynamics differed considerably across Euro...
Persistent link: https://www.econbiz.de/10003875991
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Interest Rate Bands of Inaction and Play-Hysteresis in Domestic Investment : Evidence for the Euro Area
Belke, Ansgar Hubertus - 2019
'play' area. Second, we apply an algorithm describing path-dependent play-hysteresis to estimate investment hysteresis using …
Persistent link: https://www.econbiz.de/10012863789
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Path-Dependent Deadlock : Institutional Causes of the Euro Crisis
Dahan, Samuel - 2015
We argue that the characterization of the financial turmoil in the European Monetary Union as merely a sovereign debt crisis is inaccurate insofar as the deterioration of public finances represents the culmination of a process: legal and institutional flaws laid the ground for a public debt...
Persistent link: https://www.econbiz.de/10013015725