Showing 101 - 110 of 1,045,118
Persistent link: https://www.econbiz.de/10011390646
result is that the model is able to generate persistent responses in output, inflation, and total labor input to both neutral …
Persistent link: https://www.econbiz.de/10008662486
We investigate the extent to which excess supply (demand) in labour markets contributes to a lower (higher) growth rate of average nominal wages for workers. Using panel methods on data from 10 advanced economies for 1992-2018, we produce reduced-form estimates of a wage Phillips curve...
Persistent link: https://www.econbiz.de/10012053006
In this paper an anti-cyclical fiscal policy rule is introduced into a dynamic stochastic general equilibrium model with New-Keynesian features. The rule allows the deficit to deviate from target in proportion to the impact of automatic stabilisers while any additional impact on the deficit, for...
Persistent link: https://www.econbiz.de/10010295662
DSGE models based on New Keynesian principles, which have been extended to allow for banking, the zero lower bound on interest rates (ZLB), and varying price duration, can account well for recent macroeconomic behavior across a variety of economies. These models Önd that active Öscal policy...
Persistent link: https://www.econbiz.de/10014433366
financial crisis and speeds up exit from the crisis. The downside of coordination is variability in inflation and in the …
Persistent link: https://www.econbiz.de/10011856525
consumption via managing inflation expectations based on the Euler equation. Unconventional fiscal policy uses trivial … announcements of future consumer-price increases to boost inflation expectations and consumption expenditure on impact. Instead … inflation expectations and spending today. We find households' inflation expectations and readiness to spend react substantially …
Persistent link: https://www.econbiz.de/10012057290
wages and labor market shocks feed into the inflation process and derive monetary policy implications. Towards that aim, we …
Persistent link: https://www.econbiz.de/10012991186
wages and labor market shocks feed into the inflation process and derive monetary policy implications. Towards that aim, we …
Persistent link: https://www.econbiz.de/10013317584
. Key to our estimation strategy is the use of survey - based expectations for inflation and output. We identify … period. Output shocks shift to the low volatility regime around 1985 whereas inflation shocks do so only around 1990 …, suggesting active monetary policy may have played role in anchoring inflation expectations. Shocks and policy regimes jointly …
Persistent link: https://www.econbiz.de/10014178114