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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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A Reappraisal of the Inflation-Unemployment Tradeoff
Karanassou, Marika; Sala, Hector; Snower, Dennis J. - School of Economics and Finance, Queen Mary - 2002
This paper offers a reappraisal of the inflation-unemployment tradeoff, based on ``frictional growth,'' describing the … these shocks also generate plausible impulse-responses for unemployment. Although our theory contains no money illusion, no … permanent nominal rigidities, and no departure from rational expectations, there is a long-run inflation-unemployment tradeoff. …
Persistent link: https://www.econbiz.de/10005106327
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Inflation, unemployment, and labour force. Phillips curves and long-term projections for Austria
Kitov, Ivan - Volkswirtschaftliche Fakultät, … - 2013
We model the rate of inflation and unemployment in Austria since the early 1960s within the Phillips/Fisher framework … macroeconomic variable was first tested as a predictor of inflation and unemployment in 2005 with the involved time series ended in … relationships between inflation, unemployment, and labour force. As before, a structural break is allowed in these relationships …
Persistent link: https://www.econbiz.de/10011110150
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The European Phillips Curve: Does the NAIRU Exist?
Karanassou, Marika; Sala, Hector; Snower, Dennis J. - Institute for the Study of Labor (IZA) - 2003
model, covering a panel of EU countries, and derives the implied long-run inflation-unemployment tradeoff. Our results …
Persistent link: https://www.econbiz.de/10005566739
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The European Phillips Curve: Does the NAIRU Exist?
Karanassou, Marika; Sala, Hector; Snower, Dennis J. - C.E.P.R. Discussion Papers - 2003
model, covering a panel of EU countries, and derives the implied long-run inflation-unemployment tradeoff. Our results …
Persistent link: https://www.econbiz.de/10005667015
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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 … these shocks also generate plausible impulse-responses for unemployment. Although our theory contains no money illusion, no …
Persistent link: https://www.econbiz.de/10005761764
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Secular stagnation
Bossone, Biagio - 2014
This study analyzes the emergence of secular stagnation as the consequence of a rise in the preference for liquidity. Such a rise is caused by a persistent set of pessimistic expectations. This study also investigates the effectiveness of a broad range of demand-management policies in dealing...
Persistent link: https://www.econbiz.de/10010430693
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A horse race of alternative monetary policy regimes under bounded rationality
Wagner, Joel; Schlanger, Tudor; Zhang, Yang - 2022
We introduce bounded rationality, along the lines of Gabaix (2020), in a canonical New Keynesian model calibrated to match Canadian macroeconomic data since Canada's adoption of inflation targeting. We use the model to provide a quantitative assessment of the macroeconomic impact of flexible...
Persistent link: https://www.econbiz.de/10013161512
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The European Public Debt Refinancing Program - Why the ECB Quantitative Easing Should Envisage Euro-Zone Government Bonds
Minenna, Marcello - 2014
The credit risk exposure of the German banking system is growing again after the 2009 peak and its subsequent reduction. This column comments it through the lens of the Target2 net balances in connection with the capital flows experienced by the Eurozone (EZ) balance of payments. Several aspects...
Persistent link: https://www.econbiz.de/10013047170