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Phillips Curves Phillips Lines And The Unemplyment Costs Of Overheating
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Book Synopsis Phillips Curves, Phillips Lines and the Unemplyment Costs of Overheating by : Mr.Peter B. Clark
Download or read book Phillips Curves, Phillips Lines and the Unemplyment Costs of Overheating written by Mr.Peter B. Clark and published by International Monetary Fund. This book was released on 1997-02-01 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most empirical work on the U.S. Phillips curve has had a strong tendency to impose global linearity on the data. The basic objective of this paper is to reconsider the issue of nonlinearity and to underscore its importance for policymaking. After briefly reviewing the history of the Phillips curve and the basis for convexity, we derive it explicitly using standard models of wage and price determination. We provide some empirical estimates of Phillips curves and Phillips lines for the United States and use some illustrative simulations to contrast the policy implications of the two models.
Book Synopsis Phillips Curves, Phillips Lines and the Unemployment Costs of Overheating by : Peter Barton Clark
Download or read book Phillips Curves, Phillips Lines and the Unemployment Costs of Overheating written by Peter Barton Clark and published by . This book was released on 1997 with total page 63 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Phillips Curves, Phillip Lines and Unemployment Costs of Overheating by : Peter B. Clark
Download or read book Phillips Curves, Phillip Lines and Unemployment Costs of Overheating written by Peter B. Clark and published by . This book was released on 1997 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Germany, Selected Issues written by and published by . This book was released on 1997 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Inflation and the Phillips curve by : Thomas Vogt
Download or read book Inflation and the Phillips curve written by Thomas Vogt and published by GRIN Verlag. This book was released on 2008-06-09 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2007 in the subject Economics - Economic Cycle and Growth, grade: 1,0, University of applied sciences Frankfurt a. M., course: Inflation and the Phillips Curve, language: English, abstract: In this paper the author will discuss the relation of inflation and the Phillips curve. First, the concept and the different forms of inflation and their economical reasons will be explained. Afterwards the three prevalent models of the Phillips curve in literature are introduced and explained. The author will look into the theory of the NRU and NAIRU and how they relate to the concept of the Phillips curve. In the last part of the paper, the applicability and validity of the Phillips curve for Germany is investigated more closely and the characteristics of the Phillips curve for Germany will be described. The Phillips curve originates of an empirical study of Arthur W. Phillips in 1958. There he describes the existence of a negative relationship between the rate of unemployment and the nominal wage growth in the UK between the years 1861-1957. The curve shows, that the higher the rate of unemployment, the lower the rate of wage inflation. His work represented a milestone in the development of macroeconomics. Especially in the sixties and seventies, politicians in the USA and Europe thought they can interpret the relation of inflation and unemployment as a menu card of fiscal and monetary policy. A well-known quote by Helmut Schmidt, former chancellor of Germany in the 1970s, supports this thinking, when he said that an inflation rate of five percent is better than a five percent rate of unemployment. In the following years, a lot of different economist (Keynes, Samuelson, Friedman, Phelps, Lipsey et al.) modified the original curve and supported it with their customized theories. In this paper the author will discuss the relation of inflation and the Phillips curve. First, the concept and the different forms of inflation and their economical reasons will be explained. Afterwards the three prevalent models of the Phillips curve in literature are introduced and explained. The author will look into the theory of the NRU and NAIRU and how they relate to the concept of the Phillips curve. In the last part of the paper, the applicability and validity of the Phillips curve for Germany is investigated more closely and the characteristics of the Phillips curve for Germany will be described.
Book Synopsis Publications of the International Monetary Fund by : International Monetary Fund
Download or read book Publications of the International Monetary Fund written by International Monetary Fund and published by . This book was released on 1995-10 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Inflation, Unemployment and Money by : Bruno Jossa
Download or read book Inflation, Unemployment and Money written by Bruno Jossa and published by Edward Elgar Publishing. This book was released on 1998 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: This comprehensive book presents an original reconstruction of the different interpretations of the Phillips curve. The authors demonstrate through an in-depth analysis how it is possible to find non-neoclassical foundations in the trade-off between inflation and unemployment. The debate is presented from a historical perspective which charts the evolution of the Phillips curve from a non-neoclassical perspective, taking account of post Keynesian literature. In the first part of the book the authors focus on the origins of the Phillips curve and they critically analyse Richard Lipsey's interpretation and approach to the Phillips curve. They then explore the neoclassical and monetarist interpretation, paying special attention to the evolution of monetarism and the Keynesian critique of this approach. The Kaleckian, Keynesian and Marxist interpretations of the Phillips trade-off are then presented. Here the authors show how the relationship between inflation, unemployment and money described in these approaches accurately reflects the fundamental features of today's capitalist economies. In the final section a new Phillips curve is constructed, taking into account the non-accelerating inflation rate of unemployment and the hysteresis of it. Inflation, Unemployment and Money will be of interest to macroeconomists, post Keynesians and monetary and financial economists.
Book Synopsis Asymmetry and Aggregation in the EU by : D. Mayes
Download or read book Asymmetry and Aggregation in the EU written by D. Mayes and published by Springer. This book was released on 2011-01-27 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents a clear exposition of what constitutes asymmetry in economics. It provides an empirical application of these ideas in the case of the EU. In particular, it shows how important asymmetry is for the appropriate design of policy in the Euro Area.
Book Synopsis Is the Phillips Curve Really a Curve? Some Evidence for Canada, the United Kingdom, and the United States by : Mr.Douglas Laxton
Download or read book Is the Phillips Curve Really a Curve? Some Evidence for Canada, the United Kingdom, and the United States written by Mr.Douglas Laxton and published by International Monetary Fund. This book was released on 1996-10-01 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: Previous tests for convexity in the Phillips curve have been biased because researchers have employed filtering techniques for the NAIRU that have been fundamentally inconsistent with the existence of convexity. This paper places linear and nonlinear models of the Phillips curve on an equal statistical footing by estimating model-consistent measures of the NAIRU. After imposing plausible restrictions on the variability in the NAIRU we find that the nonlinear model fits the data best. The implications for the macroeconomic policy debate is that policymakers that are unsuccessful in stabilizing the business cycle will induce a higher natural rate of unemployment.
Book Synopsis Imperfect Information, Firing Costs and Unemployment by : Patrizia Canziani
Download or read book Imperfect Information, Firing Costs and Unemployment written by Patrizia Canziani and published by . This book was released on 1997 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explores the relationship between the amount and kind of information available on the occupational qualification of new workers and enterprise level labour costs.
Author :International Monetary Fund Publisher :International Monetary Fund ISBN 13 :9781557759801 Total Pages :144 pages Book Rating :4.7/5 (598 download)
Book Synopsis Research Activities of the IMF, January 1991-December 1999 by : International Monetary Fund
Download or read book Research Activities of the IMF, January 1991-December 1999 written by International Monetary Fund and published by International Monetary Fund. This book was released on 2000-01-01 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research activity in the IMF emphasizes the links between the organization's policy and operational concerns. The main objectives of research is IMF staff understanding of policy and operational issues relevant to the institution, and to improve the analytical quality of the work prepared for management and the Executive Board and the advice provided to member countries. The scope of research in the IMF is defined by the purposes and functions of the institution. In order to foster innovation and ensure quality control, the IMF makes much of its research available outside the institution and encourages staff to interact with academia and other research organizations through conferences, seminars, and occasional joint research projects. The visiting scholar’s program has also enhanced the quality of research done in the IMF. This program brings in leading members of the economics profession from around the world to assist in the preparation of papers for the Executive Board and to conduct research on IMF-related issues.
Book Synopsis The Phillips Curve and Labor Markets by : Karl Brunner
Download or read book The Phillips Curve and Labor Markets written by Karl Brunner and published by North-Holland. This book was released on 1976 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Republic of Korea, Selected Issues by :
Download or read book Republic of Korea, Selected Issues written by and published by . This book was released on 2004 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Document de Travail written by and published by . This book was released on 1997 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book World Economic Outlook written by and published by . This book was released on 1996 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :International Labour Office. Central Library and Documentation Branch Publisher : ISBN 13 : Total Pages :704 pages Book Rating :4.F/5 ( download)
Book Synopsis International Labour Documentation by : International Labour Office. Central Library and Documentation Branch
Download or read book International Labour Documentation written by International Labour Office. Central Library and Documentation Branch and published by . This book was released on 1997 with total page 704 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Monetary Policy Under Uncertainty by : Ben Hunt
Download or read book Monetary Policy Under Uncertainty written by Ben Hunt and published by . This book was released on 1999 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt:
