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Long-run inflation-unemployment dynamics: The Spanish Phillips curve and economic policy
Karanassou, Marika; Sala, Hector; Snower, Dennis J. - 2008
This paper takes a new look at the long-run dynamics of inflation and unemployment in response to permanent changes in …, we construct an empirical model of the Spanish economy and, in this context, we evaluate the long-run inflation …
Persistent link: https://www.econbiz.de/10011453721
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Labour market skills, endogenous productivity and business cycles
Abbritti, Mirko; Consolo, Agostino - 2022
This paper analyses how labour market heterogeneity affects unemployment, productivity and business cycle dynamics that are relevant for monetary policy. The model matches remarkably well the short and long run dynamics of skilled and unskilled workers. Skill mismatch and skill-specific labour...
Persistent link: https://www.econbiz.de/10013272142
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The inflation rate disconnect puzzle: On the international component of trend inflation and the flattening of the Phillips curve
Ascari, Guido; Fosso, Luca - 2021
Since 2000 U.S. inflation has remained both below target and silent to domestic slack and monetary interventions. A … inflation. The trend analysis shows that, starting from the '90s, despite very well-anchored expectations, slow-moving imported … "cost-push" factors induced deflationary pressure keeping trend inflation below target. The cycle block provides evidence in …
Persistent link: https://www.econbiz.de/10013373827
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Long-run inflation-unemployment dynamics: The Spanish Phillips curve and economic policy
Karanassou, Marika; Sala, Héctor; Snower, Dennis J. - 2002
This paper takes a new look at the long-run dynamics of inflation and unemployment in response to permanent changes in …, we construct an empirical model of the Spanish economy and, in this context, we evaluate the long-run inflation …
Persistent link: https://www.econbiz.de/10010281024
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Estimating the New Keynesian Phillips Curve : a vertical production chain approach
Shapiro, Adam Hale (contributor) - 2006 - This version: July 10, 2006
It has become customary to estimate the New Keynesian Phillips Curve (NKPC) with GMM using a large instrument set that includes lags of variables that are ad hoc to the model. Researchers have also conventionally used real unit labor cost (RULC) as the proxy for real marginal cost, even though...
Persistent link: https://www.econbiz.de/10003347268
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Involuntary unemployment and the business cycle
Christiano, Lawrence J.; Trabandt, Mathias; Walentin, Karl - 2010
capital and use the resulting model to discuss the concept of the 'non-accelerating inflation rate of unemployment'. We then …
Persistent link: https://www.econbiz.de/10003973491
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Alternative Phillips curves models with endogenous real-time expectations
Kiefer, David M. - 2010
between inflation and real output have been developed. Since these new Phillips curve models are expressed in terms of …
Persistent link: https://www.econbiz.de/10003958152
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Involuntary unemployment and the business cycle
Christiano, Lawrence J.; Trabrandt, Mathias; Walentin, Karl - 2012
capital and use the resulting model to discuss the concept of the ‘non-accelerating inflation rate of unemployment’. We then …
Persistent link: https://www.econbiz.de/10003960484
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Did the crisis affect potential output?
Shagi, Makram el- - 2010
run role of excess liquidity (that we estimate endogeneously) for inflation is taken into account. -- output gap …) Überschussliquidität auf die Inflation berücksichtigt wird. -- Produktionslücke ; Liquidität ; Zustandsraummodelle …
Persistent link: https://www.econbiz.de/10003961061
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The efficiency wages Phillips curve : closed economy versus open economy
Vaona, Andrea - 2011
Phillips curve. -- Efficiency wages ; money growth ; Phillips curve ; inflation …
Persistent link: https://www.econbiz.de/10009244382