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Has the EMU reduced wage growth and unemployment? : testing a model of trade union behavior

Mikosch, Heiner; Sturm, Jan-Egbert - 2011

(EMU) led to lower wage growth and lower unemployment in participating countries. Following Grüner's model, monetary … significant general effect of the EMU on wage growth nor on unemployment. -- Common currency areas ; EMU ; Phillips curve … ; unemployment ; wages …

Persistent link: https://www.econbiz.de/10009270311

Has the EMU reduced wage growth and unemployment? : testing a model of trade union behaviour

Mikosch, Heiner; Sturm, Jan-Egbert - 2011

(EMU) led to lower wage growth and lower unemployment in participating countries. Following Grüner's model, monetary … significant general effect of the EMU on wage growth nor on unemployment. -- common currency areas ; EMU ; Phillips curve … ; unemployment ; wages …

Persistent link: https://www.econbiz.de/10009127665

Has the EMU Reduced Wage Growth and Unemployment? Testing a Model of Trade Union Behaviour

Mikosch, Heiner - 2013

(EMU) led to lower wage growth and lower unemployment in participating countries. Following Grüner's model, monetary … significant general effect of the EMU on wage growth nor on unemployment … national business cycles which, in turn, leads to higher unemployment risk. In order to counter-balance this effect, trade …

Persistent link: https://www.econbiz.de/10013093430

Has the EMU reduced wage growth and unemployment? : testing a model of trade union behavior

Mikosch, Heiner; Sturm, Jan-Egbert - In: European journal of political economy 28 (2012) 1, pp. 27-37

Persistent link: https://www.econbiz.de/10009516010

The possible unemployment cost of average inflation below a credible target : a replication study of Svensson (American Economic Journal: Macroeconomics, 2015)

Oraby, Ramy - In: Journal of comments and replications in economics 1 (2022), pp. 1-21

an unemployment cost equivalent to 0.8 percentage points over the sample period where the average unemployment rate …

Persistent link: https://www.econbiz.de/10013179358

Modeling which factors impact interest rates

Wang, Guizhou; Hausken, Kjell - In: Journal of central banking theory and practice 12 (2023) 2, pp. 211-237

money supply, money velocity, and the unemployment rate. Thus, five parameters, i.e. weights assigned to the deviation in … the money velocity, and the deviation in unemployment rate, are introduced and estimated. The article explores and tests … weight to the deviation in unemployment rate, and moderate weights are assigned to the deviation in the inflation rate, the …

Persistent link: https://www.econbiz.de/10014316675

Demographics and inflation in the euro area : a two-sector new Keynesian perspective

Lis, Eliza Magdalena; Nickel, Christiane; Papetti, Andrea - 2020

Can the aging process affect inflation? The prolonged decline of fertility and mortality rates induces a persistent downward pressure on the natural interest rate. If this development is not internalized by the monetary policy rule, inflation can be on a downward trend. Using the structure of a...

Persistent link: https://www.econbiz.de/10012181303

Mind the output gap : the disconnect of growth and inflation during recessions and convex Phillips curves in the euro area

Groß, Marco; Semmler, Willi - Task Force on Low Inflation (LIFT) - 2017

We develop a theoretical model that features a business cycle-dependent relation between out- put, price inflation and inflation expectations, augmenting the model by Svensson (1997) with a nonlinear Phillips curve that reflects the rationale underlying the capacity constraint theory (Macklem...

Persistent link: https://www.econbiz.de/10011636803

A Two-Pillar DSGE Monetary Policy Model for the Euro Area

Barthelemy, Jean - 2010

Whereas the bulk of the literature on DSGE models provides a rationale for inflation targeting strategies, there is no model doing such a job for the strategy implemented for almost ten years now by the Eurosystem and known as the "two-pillar monetary policy strategy". We try to address this...

Persistent link: https://www.econbiz.de/10013138020

A Speed Limit Monetary Policy Rule for the Euro Area

Stracca, Livio - 2006

This paper estimates a hybrid New Keynesian model on euro area data and evaluates the performance of different simple policy rules and of the optimal unconstrained rule under commitment. The study reaches two main conclusions. First, inflation is found to be mainly forward-looking in the euro...

Persistent link: https://www.econbiz.de/10012780823