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The effectiveness of economic policy and position in the cycle: The case of tax reductions on overtime in France

Heyer, Eric - Department of Economics, Sciences économiques - 2011

The economic situation of all the major developed countries has changed significantly during the 2007-2010 period. Yet many economic policies have been kept in place. This is true in particular of a key measure in French government policy: tax reductions on overtime hours and their exemption...

Persistent link: https://www.econbiz.de/10010756875

In Search of the Natural Rate of Unemployment

King, Thomas B.; Morley, James - 2004

We use a structural-VAR model to estimate the steady-state rate of unemployment, which we define as the natural rate. Although nothing constrains it to do so, the natural rate measured by this approach implies a strong negative relationship between cyclical unemployment and inflation, adding to...

Persistent link: https://www.econbiz.de/10014068111

The effectiveness of economic policy and position in the cycle: The case of tax reductions on overtime in France

Heyer, Eric - Sciences économiques, Sciences Po - 2011

Persistent link: https://www.econbiz.de/10010764788

A Model for Estimation of NAIRU Extended by Demand Shocks and its Application to Business Cycle Analysis in the Labour Market in Hungary and Poland

Jasova, Emilie - International Institute of Social and Economic Sciences - 2014

Article seeks to extend the Standard Gordon's " Triangle " model with demand shocks. The demand shocks are represented by a newly derived Current discount indicator (CDI). The recession on the labour market in Hungary and Poland was influenced by the growth of future consumption preferences of...

Persistent link: https://www.econbiz.de/10011207342

Cambridge anticipations of the natural rate hypothesis? : Robertson and Champernowne revisited

Boianovsky, Mauro - 2018 - June 2018, first preliminary draft

The "natural rate hypothesis" is usually ascribed to ideas put forward by M. Friedman and E. Phelps between 1966 and 1968. It postulates that changes in nominal aggregate demand affect aggregate output because agents cannot temporarily distinguish relative from general price movements when they...

Persistent link: https://www.econbiz.de/10011854941

The dynamics of the NAIRU model with two switching regimes

Tramontana, Fabio; Gardini, Laura; Ferri, Piero - Facoltà di Economia, Università degli Studi di Urbino - 2010

We consider a model of inflation and unemployment proposed in Ferri et al. (JEBO, 2001), in which the dynamics are described by a discontinuous piecewise linear map, made up of two branches. We shall show that the bounded dynamics may be classified in two cases: we may have either regular...

Persistent link: https://www.econbiz.de/10008577220

Hysteresis and Nairu in the Euro Area

Logeay, Camille; Tober, Silke - 2005

This paper analyses the Nairu in the Euro Area and the influence that hysteresis had on its development. Using the … Kalman-filter technique we find that the Nairu has varied considerably since the early seventies. The Kalman-filter technique … is applied here using explicit exogenous variables. In order to test for hysteresis, the dependence of the Nairu on …

Persistent link: https://www.econbiz.de/10010460431

A Theory-Consistent System Approach for Estimating Potential Output and the NAIRU

Apel, Mikael; Jansson, Per - 1998

A new approach is proposed for estimating potential output and the NAIRU. Identification is achieved using Okun's law …

Persistent link: https://www.econbiz.de/10010321313

Time-varying Nairu and real interest rates in the Euro Area

Logeay, Camille; Tober, Silke - 2003

This paper analyses the Nairu in the Euro Area and the influence that monetary policy had on its development. Using the … Kalman-filter technique we find that the Nairu has varied considerably since the early seventies. The Kalman-filter technique … explain a quarter of the increase in the Nairu between 1980 and 1995. This indicates the possibility of a long-run non …

Persistent link: https://www.econbiz.de/10010260669

A theory-consistent system approach for estimating potential output and the NAIRU

Apel, Mikael; Jansson, Per - 1998

A new approach is proposed for estimating potential output and the NAIRU. Identification is achieved using Okun's law …

Persistent link: https://www.econbiz.de/10011584531