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The role of labor markets for euro area monetary policy
Christoffel, Kai; Küster, Keith; Linzert, Tobias - 2009
which labor markets are characterized by search and matching frictions. We first investigate to which extent a more flexible … degree of wage rigidity makes monetary policy more effective, i.e. a monetary policy shock transmits faster onto inflation …
Persistent link: https://www.econbiz.de/10003832582
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The role of labor markets for euro area monetary policy
Christoffel, Kai; Küster, Keith; Linzert, Tobias - 2009
which labor markets are characterized by search and matching frictions. We first investigate to which extent a more flexible … degree of wage rigidity makes monetary policy more effective, i.e. a monetary policy shock transmits faster onto inflation …
Persistent link: https://www.econbiz.de/10003827243
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The Role of Labor Markets for Euro Area Monetary Policy
Christoffel, Kai Philipp - 2009
which labor markets are characterized by search and matching frictions. We first investigate to which extent a more flexible … degree of wage rigidity makes monetary policy more effective, i.e. a monetary policy shock transmits faster onto inflation …
Persistent link: https://www.econbiz.de/10012764518
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The Role of Labor Markets for Euro Area Monetary Policy
Christoffel, Kai Philipp - 2019
which labor markets are characterized by search and matching frictions. We first investigate to which extent a more flexible … degree of wage rigidity makes monetary policy more effective, i.e. a monetary policy shock transmits faster onto inflation …
Persistent link: https://www.econbiz.de/10012705990
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Does Money Matter for the Identification of Monetary Policy Shocks : A DSGE Perspective
Poilly, Céline - 2010
DSGE model. Considering SVAR models in which either the interest rate is predetermined for money or these two monetary … variables are simultaneously determined, two DSGE models are estimated by Minimum Distance Estimation. We emphasize that real … introduced in the identification scheme is not neutral for the estimation of DSGE models …
Persistent link: https://www.econbiz.de/10013137337
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Uncertainty shocks, monetary policy and long-term interest rates
Amisano, Gianni; Tristani, Oreste - 2019
We study the relationship between monetary policy and long-term rates in a structural, general equilibrium model estimated on both macro and yields data from the United States. Regime shifts in the conditional variance of productivity shocks, or "uncertainty shocks", are an important model...
Persistent link: https://www.econbiz.de/10012009116
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How oil shocks propagate: evidence on the monetary policy channel
Miyamoto, Wataru; Nguyen, Thuy Lan; Sergeyev, Dmitriy - 2024
Persistent link: https://www.econbiz.de/10014533433
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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 New Keynesian framework we argue that labor market institutions should be divided into those institutions that cause Unemployment Rigidities (UR) and those that cause Real Wage...
Persistent link: https://www.econbiz.de/10003972885
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Labor Market Institutions and the Business Cycle : Unemployment Rigidities vs. Real Wage Rigidities
Abbritti, Mirko - 2010
This paper investigates the importance of labor market institutions for inflation and unemployment dynamics. Using the New Keynesian framework we argue that labor market institutions should be divided into those institutions that cause Unemployment Rigidities (UR) and those that cause Real Wage...
Persistent link: https://www.econbiz.de/10013144855
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Quantitative easing and inequality
Lee, Donggyu - 2024
This paper studies how quantitative easing (QE) affects household welfare across the wealth distribution. I build a Heterogeneous Agent New Keynesian (HANK) model with household portfolio choice, wage and price rigidities, endogenous unemployment, frictional financial intermediation, an...
Persistent link: https://www.econbiz.de/10014577973