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A Reappraisal of the Inflation-Unemployment Tradeoff
Snower, Dennis; Karanassou, Marika; Sala, Hector - Institute for the Study of Labor (IZA) - 2002
This paper offers a reappraisal of the inflation-unemployment tradeoff, based on "frictional growth" describing the … able to work themselves out fully. In this context, monetary shocks have a gradual and delayed effect on inflation, and …
Persistent link: https://www.econbiz.de/10005761764
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The Return of the Long-Run Phillips Curve
Graham, Liam; Snower, Dennis J. - Institute for the Study of Labor (IZA) - 2002
-run inflation-unemployment tradeoff. …
Persistent link: https://www.econbiz.de/10005822071
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Before and After the Black Death: Money, Prices, and Wages in Fourteenth-Century England
Munro, John H. A. - University of Toronto, Department of Economics - 2005
monetary forces in producing deflation in the second and final quarters of the fourteenth century, but severe inflation in … deflations and intervening inflation – were the most powerful determinant of the level of real wages (i.e., in terms of the …’ by the post-Plague inflation, so that real wages fell. Conversely, the rise of real wages in the second quarter of the …
Persistent link: https://www.econbiz.de/10005827233
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Gold, Guilds, and Government: The Impact of Monetary and Labour Policies on the Flemish Cloth Industry, 1390-1435
Munro, John - University of Toronto, Department of Economics - 2002
The late Prof. Hans Van Werveke, in two very contentious articles, had contended that the monetary policies of Count Lodewijk van Male (Louis de Male) 'had checked, for some time at least, the decay of the Flemish cloth industry' by allowing its industrial entrepreneurs (weaver-drapers) to pay...
Persistent link: https://www.econbiz.de/10005827245
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DAS MONETÄRE SYSTEM DER REPUBLIK KROATIEN IN DER TRANSITION UND SEIN EINFLUSS AUF DAS SYSTEM DES ÖFFENTLICHEN FINANZEN
Srb, Vladimir; Matić, Branko; Marković, Branimir - Volkswirtschaftliche Fakultät, … - 1999
The paper delineates the properties and specificities of modern Croatian money-market transactions and their transition as well as the Solutions applied in this segment by the Republic of Croatia from the moment of declaration ofits in dependence up to nowadays. Such a contemporary monetary...
Persistent link: https://www.econbiz.de/10005836396
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Finite-Sample Simulation-Based Inference in VAR Models with Applications to Order Selection and Causality Testing
DUFOUR, Jean-Marie; JOUINI, Tarek - Département de Sciences Économiques, Université de … - 2005
Statistical tests in vector autoregressive (VAR) models are typically based on large-sample approximations, involving the use of asymptotic distributions or bootstrap techniques. After documenting that such methods can be very misleading even with fairly large samples, especially when the number...
Persistent link: https://www.econbiz.de/10005133168
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East Asia and the Pacific Confronts the “New Normal”
Nehru, Vikram - In: World Bank - Economic Premise (2010) 24, pp. 1-9
Developing East Asia is leading the global economic recovery, although performance varies across the region. In some countries, the monetary stance is already being tightened in light of emerging inflationary pressures; but it is premature to withdraw the fiscal stimulus until the global...
Persistent link: https://www.econbiz.de/10008837651
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Optimal Central Bank Lending
Schabert, Andreas - Tinbergen Institute - 2010
We analyze optimal monetary policy in a sticky price
Persistent link: https://www.econbiz.de/10008838555
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Money, Inflation and Growth in Germany-A Vector-Error-Correction-P-Star Model
Clostermann, Joerg; Seitz, Franz - In: Journal of Economics and Statistics (Jahrbuecher fuer … 222 (2002) 6, pp. 641-655
The present paper uses the P-Star approach to analyze the real and price effects of German monetary policy on the basis of a multivariate vector-error-correction-model. One surprising result is that the Bundesbank does not cause the price effects of its monetary policy actions directly via...
Persistent link: https://www.econbiz.de/10008633360
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Finite-Sample Simulation-Based Inference in VAR Models with Applications to Order Selection and Causality Testing
DUFOUR, Jean-Marie; JOUINI, Tarek - Centre Interuniversitaire de Recherche en Économie … - 2005
Statistical tests in vector autoregressive (VAR) models are typically based on large-sample approximations, involving the use of asymptotic distributions or bootstrap techniques. After documenting that such methods can be very misleading even with fairly large samples, especially when the number...
Persistent link: https://www.econbiz.de/10008671539