Narrow search
Showing 1 - 10 of 97,055
Cover Image
The price-price Phillips curve in small open economies and monetary unions : theory and empirics
Vaona, Andrea - 2014
reactiveness of inflation to the unemployment rate. In regard to a monetary union, the national unemployment multiplier in the …
Persistent link: https://www.econbiz.de/10010238840
Cover Image
Hyperbolic discounting and the Phillips curve
Graham, Liam; Snower, Dennis J. - 2007
hyperbolic discounting leads to inflation having significant long-run effects on real variables. …
Persistent link: https://www.econbiz.de/10010272966
Cover Image
Increasing returns to scale and the long-run Phillips curve
Vaona, Andrea; Snower, Dennis J. - 2006
A growing body of empirical evidence shows that there exists a long-run positive tradeoff between inflation and real … between inflation and output. …
Persistent link: https://www.econbiz.de/10010273150
Cover Image
The efficiency wages Phillips curve: Closed economy versus open economy
Vaona, Andrea - 2011
The paper extends the efficiency wages Phillips curve from a closed economy context to an open economy one with both commodity trade and capital mobility. Opening the trade account does not alter the slope of the Phillips curve, but it makes its position a function of the change of foreign and...
Persistent link: https://www.econbiz.de/10010277343
Cover Image
Four variations on fair wages and the Phillips curve
Vaona, Andrea - 2011
The present paper explores the connection between inflation and unemployment in different models with fair wages both … function, more inflation lowers the unemployment rate, though to a declining extent. This is because firms respond to inflation … inflation on effort. A stronger effect of nflation on unemployment is also produced under varying as opposed to fixed capital …
Persistent link: https://www.econbiz.de/10010277344
Cover Image
Money illusion and the long-run Phillips curve in staggered wage setting models
Vaona, Andrea - 2011
We consider the effect of money illusion - defined referring to Stevens' ratio estimation function - on the long-run Phillips curve in an otherwise standard New Keynesian model of sticky wages. We show that if households under-perceive real economic variables, negative money...
Persistent link: https://www.econbiz.de/10010277352
Cover Image
Four variations on fair wages and the Phillips curve
Vaona, Andrea - 2011
The present paper explores the connection between inflation and unemployment in different models with fair wages both … function, more inflation lowers the unemployment rate, though to a declining extent. This is because firms respond to inflation … inflation on effort. A stronger effect of nflation on unemployment is also produced under varying as opposed to fixed capital …
Persistent link: https://www.econbiz.de/10009244389
Cover Image
Hyperbolic discounting and positive optimal inflation
Graham, Liam; Snower, Dennis J. - 2011
Keynesian model we show that, if households have hyperbolic discounting, small positive rates of inflation can be optimal. In … our baseline calibration, the optimal rate of inflation is 2.1% and remains positive across a wide range of calibrations. …
Persistent link: https://www.econbiz.de/10010278022
Cover Image
The price-price Phillips curve in small open economies and monetary unions: Theory and empirics
Vaona, Andrea - 2014
reactiveness of inflation to the unemployment rate. In regard to a monetary union, the national unemployment multiplier in the …
Persistent link: https://www.econbiz.de/10010332011
Cover Image
The real effects of money growth in dynamic general equilibrium
Graham, Liam; Snower, Dennis J. - 2004
We analyse the effects of money growth within a standard New Keynesian framework and show that the interaction between staggered nominal contracts and money growth leads to a long-run trade-off between output and money growth. We explore the microeconomic mechanisms that lead to this trade-off,...
Persistent link: https://www.econbiz.de/10011604458