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Animal Spirits, Persistent Unemployment and the Belief Function

Farmer, Roger E A - C.E.P.R. Discussion Papers - 2010

This paper presents a theory of the monetary transmission mechanism in a monetary version of Farmer’s (2009) model in which there are multiple equilibrium unemployment rates. The model has two equations in common with the new-Keynesian model; the optimizing IS curve and the policy rule. It...

Persistent link: https://www.econbiz.de/10008692320

The Natural Rate Hypothesis: An idea past its sell-by-date

Farmer, Roger E A - C.E.P.R. Discussion Papers - 2013

Central banks throughout the world predict inflation with new-Keynesian models where, after a shock, the unemployment …

Persistent link: https://www.econbiz.de/10011084150

Unemployment and Inflation in Ireland: 1926-2012

Gerlach, Stefan; Lydon, Reamonn; Stuart, Rebecca - C.E.P.R. Discussion Papers - 2015

We study the determination of Irish inflation between 1926 and 2012. The difference between unemployment and the NAIRU … is a significant determinant of inflation in a simple backward-looking Phillips Curve that incorporates import prices …

Persistent link: https://www.econbiz.de/10011272719

Macroeconomic Policy Issues of the 1990s.

Pitchford, J. - Research School of Economics, College of Business and … - 1992

Persistent link: https://www.econbiz.de/10004971418

The Return of the Long-Run Phillips Curve

Graham, Liam; Snower, Dennis J. - C.E.P.R. Discussion Papers - 2003

inflation and a permanent reduction in the level of unemployment. In short, we derive a microfounded long-run downward …

Persistent link: https://www.econbiz.de/10005791529

Fiscal-Monetary Policy Interactions in the Presence of Unionized Labour Markets

Cukierman, Alex; Dalmazzo, Alberto - C.E.P.R. Discussion Papers - 2005

, or of central bank conservativeness are associated with lower unemployment and inflation. However the forward shifting of … by governments concerned with the costs of inflation and unemployment, as well as with redistribution to particular …

Persistent link: https://www.econbiz.de/10005124224

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