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Jump-starting the euro area recovery : would a rise in core fiscal spending help the periphery?

Blanchard, Olivier; Erceg, Christopher J.; Lindé, Jesper - 2015

We show that a .scal expansion by the core economies of the euro area would have a large and positive impact on periphery GDP assuming that policy rates remain low for a prolonged period. Under our preferred model speci.cation, an expansion of core government spending equal to one percent of...

Persistent link: https://www.econbiz.de/10011294265

The negative mean output gap

Aiyar, Shekhar; Voigts, Simon - 2019

We argue that in an economy with downward nominal wage rigidity, the output gap is negative on average. Because it is more difficult to cut wages than to increase them, firms reduce employment more during downturns than they increase employment during expansions. This is demonstrated in a simple...

Persistent link: https://www.econbiz.de/10012103632

Essays on gradual wage-price adjustments, monetary unions and open economy macrodynamics

Proaño Acosta, Christian (contributor) - 2008

Persistent link: https://www.econbiz.de/10003738085

Hysteresis and the Nairu in the Euro Area

Logeay, Camille; Tober, Silke - In: Scottish journal of political economy : the journal of … 53 (2006) 4, pp. 409-429

Persistent link: https://www.econbiz.de/10003358968

Understanding the link between money growth and inflation in the Euro area

Assenmacher-Wesche, Katrin; Gerlach, Stefan - 2006

Persistent link: https://www.econbiz.de/10003330892

One size fits none? Common monetary policy and inflation differentials in EMU

Geiger, Felix; Spahn, Peter - In: European integration in crisis, (pp. 281-300). 2007

Persistent link: https://www.econbiz.de/10003571988

Dynamics of inflation expectations in the Euro area

Paloviita, Maritta - 2008

Persistent link: https://www.econbiz.de/10009770044

Is there a threat of self-reinforcing deflation in the Euro area? : a view through the lens of the Phillips curve

Wieland, Volker; Wolters, Maik H. - 2014

The recent decline in euro area inflation has triggered new calls for additional monetary stimulus by the ECB in order … inflation expectations, output gaps and other factors driving current inflation through the lens of the Phillips curve. It also … outputinflation nexus at low trend inflation. The note concludes from this evidence that the risk of a selfreinforcing deflation …

Persistent link: https://www.econbiz.de/10010400309

Has the EMU reduced wage growth and unemployment? : testing a model of trade union behavior

Mikosch, Heiner; Sturm, Jan-Egbert - 2011

By using a model of trade union behaviour Grüner (2010) argues that the introduction of the European Monetary Union (EMU) led to lower wage growth and lower unemployment in participating countries. Following Grüner's model, monetary centralization lets the central bank react less flexibly to...

Persistent link: https://www.econbiz.de/10009270311

Has the EMU reduced wage growth and unemployment? : testing a model of trade union behavior

Mikosch, Heiner; Sturm, Jan-Egbert - In: European journal of political economy 28 (2012) 1, pp. 27-37

Persistent link: https://www.econbiz.de/10009516010