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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
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Money illusion and the long-run Phillips curve in staggered wage setting models
Vaona, Andrea - 2011
money illusion affects the short-run effects of a monetary shock. -- Phillips curve ; inflation ; nominal inertia ; monetary …
Persistent link: https://www.econbiz.de/10009244385
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A sectoral analysis of price-setting behavior in US manufacturing industries
Leith, Campbell B.; Malley, James R. - 2003
In this paper we develop a multi-sector model of firms pricing behaviour under imperfect competition. We allow for the fact that some goods sold will be for final consumption, while others will be used as intermediate goods in further production. We assume that price setters are constrained by...
Persistent link: https://www.econbiz.de/10011508076
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Inflation expectations and the two forms of inattentiveness
Easaw, Joshy Z.; Golinelli, Roberto - 2014
The purpose of the present paper is to investigate the structure and dynamics of professionals' forecast of inflation … multi-period forecast and, thereby, the expected momentum of inflation. Using number survey-based data for the US and UK, we …
Persistent link: https://www.econbiz.de/10010429166
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Increasing returns to scale and the long-run Phillips curve
Vaona, Andrea (contributor); Snower, Dennis J. (contributor) - 2007
A growing body of empirical evidence shows that there exists a long-run positive tradeoff between inflation and real … between inflation and output. -- Phillips curve ; Inflation ; Increasing returns ; nominal inertia ; monetary policy …
Persistent link: https://www.econbiz.de/10003747545
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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 revised version: March 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/10011452035
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Firm-specific production factors in a DSGE model with Taylor price setting
De Walque, Gregory; Smets, Frank; Wouters, Rafael - 2006
This paper compares the Calvo model with a Taylor contracting model in the context of the Smets-Wouters (2003) Dynamic Stochastic General Equilibrium (DSGE) model. In the Taylor price setting model, we introduce firm-specific production factors and discuss how this assumption can help to reduce...
Persistent link: https://www.econbiz.de/10003367994
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The Australian Phillips Curve and More
Kitov, Ivan - 2011
A quantitative model is presented linking the rate of inflation and unemployment to the change in the level of labor …
Persistent link: https://www.econbiz.de/10013130296
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Firm-Specific Production Factors in a DSGE Model with Taylor Price Setting
de Walque, Gregory - 2010
This paper compares the Calvo model with a Taylor contracting model in the context of the Smets-Wouters (2003) Dynamic Stochastic General Equilibrium (DSGE) model. In the Taylor price setting model, we introduce firm-specific production factors and discuss how this assumption can help to reduce...
Persistent link: https://www.econbiz.de/10013137275
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Involuntary Unemployment and the Business Cycle
Christiano, Lawrence J. - 2014
capital and use the resulting model to discuss the concept of the nonaccelerating inflation rate of unemployment. We then …
Persistent link: https://www.econbiz.de/10013069236