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Exchange Rate regimes, Political Parties, and the Inflation-Unemployment Tradeoff: Evidence From Greece.
Lee, D.H.; Philippopoulos, A. - Department of International and European Economic … - 1997
We use Greek data during 1960-1994 to test and estimate a model in which wage inflation, price inflation and …
Persistent link: https://www.econbiz.de/10008619418
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Inflation Dynamics and Monetary Policy in Bolivia
Guerson, Alejandro - 2016
This paper explores inflation dynamics and monetary policy in Bolivia. Bolivia's monetary policy framework has been … effective in stabilizing inflation in recent times. This has been a challenging task given high price volatility of key consumer … framework has contributed to the stabilization of inflation, with effective transmission through the bank lending channel, while …
Persistent link: https://www.econbiz.de/10012998770
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The Exchange Rate in a Dynamic-Optimizing Current Account Model with Nominal Rigidities: A Quantitative Investigation.
Kollman, R. - Centre Interuniversitaire de Recherche en Économie … - 1996
This paper studies a dynamic-optimizing model of a semi-small open economy with sticky nominal prices and wages. The model exhibits exchange rate overshooting in response to money supply shocks. The predicted variability of nominal and real exchange rates is roughly consistent with that of G7...
Persistent link: https://www.econbiz.de/10005729537
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Firm-specific capital, nominal rigidities and the business cycle
Altig, David; Christiano, Lawrence J.; Eichenbaum, Martin S. - 2004
inflation is inertial. Microeconomic data indicate that firms change prices frequently. We formulate and estimate a model which … resolves this apparent micro - macro conflict. Our model is consistent with post-war U.S. evidence on inflation inertia even …
Persistent link: https://www.econbiz.de/10011584699
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Firm-Specific Capital, Nominal Rigidities and the Business Cycle
Altig, David; Christiano, Lawrence; Eichenbaum, Martin; … - 2004
inflation is inertial. Microeconomic data indicate that firms change prices frequently. We formulate and estimate a model which … resolves this apparent micro - macro conflict. Our model is consistent with post-war U.S. evidence on inflation inertia even …
Persistent link: https://www.econbiz.de/10010321321
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The Financial Accelerator in a Quantitative Business Cycle Framework
Bernanke, B.; Gertler, M.; Gilchrist, S. - C.V. Starr Center for Applied Economics, Department of … - 1998
This paper develops a dynamic general equilibrium model that is intended to help clarify the role of credit market frictions in business fluctuations, from both a qualitative and a quantitative standpoint. The model is a synthesis of the leading approaches in the literature. In particular, the...
Persistent link: https://www.econbiz.de/10005264309
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Involuntary Unemployment and the Business Cycle
Christiano, Lawrence J.; Trabrandt, Mathias; Walentin, Karl - Sveriges Riksbank - 2010
Can a model with limited labor market insurance explain standard macro- and labor market data jointly? We seek to construct a monetary model in which: i) the unemployed are worse off than the employed, i.e. unemployment is involuntary and ii) the labor force participation rate varies with the...
Persistent link: https://www.econbiz.de/10008516098
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Poole Revisited
Collard, Fabrice; Dellas, Harris; Ertz, Guy - Institut de Recherche Économique et Sociale (IRES), … - 1998
We study the properties of alternative central bank targeting procedures in a general equilibrium, monetary model with labor contracts, endogenous velocity and three shocks: money demand, supply and fiscal. Money demand -velocity- shocks emerge as the main source of macroeconomic volatility....
Persistent link: https://www.econbiz.de/10004984942
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The Financial Accelerator in an Estimated New Keynesian Model
Christensen, Ian; Dib, Ali - In: Review of Economic Dynamics 11 (2008) 1, pp. 155-178
This paper estimates and simulates a sticky-price dynamic stochastic general-equilibrium model with a financial accelerator, a la Bernanke, Gertler, and Gilchrist (1999), to assess the importance of the financial accelerator mechanism in fitting the data and its role in the amplification and...
Persistent link: https://www.econbiz.de/10005069610
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Firm-Specific Capital, Nominal Rigidities and the Business Cycle
Altig, David; Christiano, Lawrence; Eichenbaum, Martin; … - Sveriges Riksbank - 2004
inflation is inertial. Microeconomic data indicate that firms change prices frequently. We formulate and estimate a model which … resolves this apparent micro - macro conflict. Our model is consistent with post-war U.S. evidence on inflation inertia even …
Persistent link: https://www.econbiz.de/10005649100