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Deglobalisation post COVID-19 could spell trouble for the European Monetary Union
Bertasiute, Akvile; Massaro, Domenico; Weber, Matthias - 2020
Less economic integration would make it difficult for the ECB to stabilise the euro area economies. Symmetric monetary policy cannot do anything about this and individual countries would need to use fiscal policy tools
Persistent link: https://www.econbiz.de/10012387253
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Macroeconomic shocks and racial labour market differences in the U.S.
De, Kuhelika; Compton, Ryan A.; Giedeman, Daniel C.; … - 2019
in their unemployment rate and not a decline in labour force participation rate. Policymakers should take account of …
Persistent link: https://www.econbiz.de/10012157899
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Market Deregulation and Optimal Monetary Policy in a Monetary Union
Cacciatore, Matteo; Fiori, Giuseppe; Ghironi, Fabio - C.E.P.R. Discussion Papers - 2013
, and price and wage rigidities. Regulation affects producer entry costs, employment protection, and unemployment benefits …
Persistent link: https://www.econbiz.de/10011084173
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What's up with the Phillips curve?
Del Negro, Marco; Lenza, Michele; Primiceri, Giorgio E.; … - 2020
The business cycle is alive and well, and real variables respond to it more or less as they always did. Witness the Great Recession. In ation, in contrast, has gone quiescent. This paper studies the sources of this disconnect using VARs and an estimated DSGE model. It finds that the disconnect...
Persistent link: https://www.econbiz.de/10012241237
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Public Support for the Euro and Trust in the ECB: The first two decades of the common currency
Roth, Felix; Jonung, Lars - 2019
econometric work demonstrates that unemployment is a key driver of support behind the euro. Given these developments, we discuss …
Persistent link: https://www.econbiz.de/10011984438
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Public Support for the Euro and Trust in the ECB. The First Two Decades of the Common Currency
Roth, Felix; Jonung, Lars - 2019
that unemployment is a key driver of support for the euro and its governance. Given these developments, we discuss whether …
Persistent link: https://www.econbiz.de/10013208851
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Public support for the euro and trust in the ECB : the first two decades of the common currency
Roth, Felix; Jonung, Lars - 2019
econometric work demonstrates that unemployment is a key driver of support behind the euro. Given these developments, w e discuss …
Persistent link: https://www.econbiz.de/10012007047
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Labor market institutions and the business cycle Unemployment rigidities vs. real wage rigidities
Abbritti, Mirko; Weber, Sebastian - 2010
This paper investigates the importance of labor market institutions for inflation and unemployment dynamics. Using the … Unemployment Rigidities (UR) and those that cause Real Wage Rigidities (RWR). The two types of institutions have opposite effects … and their interaction is crucial for the dynamics of inflation and unemployment. We estimate a panel VAR with …
Persistent link: https://www.econbiz.de/10011605229
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What can a New Keynesian labor matching model match?
Reicher, Christopher Phillip - 2009
A labor matching model with nominal rigidities can match short-run movements in labor's share with some success. However, it cannot explain much of the behavior of employment, vacancies, and job flows in postwar US data without resorting to additional shocks beyond monetary policy and...
Persistent link: https://www.econbiz.de/10010265220
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The inflation-output tradeoff: which type of labor market rigidity is to be blamed?
Merkl, Christian - 2009
In the standard New Keynesian sticky price model the central bank faces no contradiction between the stabilization of inflation and the stabilization of the welfare relevant output gap after a productivity shock hits the economy. When the standard model is enhanced by real wage rigidities or...
Persistent link: https://www.econbiz.de/10010277953