How does central bank conservatism affect labor market reform? In this paper we examine the economic forces at work. An … increase in conservatism triggers two opposite effects. It reduces the inflation bias of discretionary monetary policy and … hence the benefits of a reform. It also increases unemployment variability, which increases the precautionary benefits of a …

Hoe does central bank conservatism affect labor market reform? In this paper we examine the economic forces at work. An … increase in conservation triggers two opposite effects. It reduces the inflation bias of discretionary monetary policy and … hence the benefits of a reform. It also increases unemployment variability, which increases the precautionary benefits of a …

is shown that the conclusion of the welfarism theorem remains true if transitivity is replaced by consistency and that an …

anonymity that applies in a single-profile setting and characterize anonymous single-profile welfarism under a richness …

profiles, it is assumed that there are several profiles of non-welfare information. We prove new versions of the welfarism …

changes in heterogeneity, e.g. increased demand for skilled labor, are also analyzed. In the most reasonable setup, a change …