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Author : John Rutledge
Publisher :
ISBN 13 :
Total Pages : 134 pages
Book Rating : 4.E/5 ( download)
Download or read book The Unemployment Inflation Tradeoff written by John Rutledge and published by . This book was released on 1975 with total page 134 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Samuel A. Morley
Publisher :
ISBN 13 : 9780030410161
Total Pages : 214 pages
Book Rating : 4.4/5 (11 download)
Download or read book Inflation and Unemployment written by Samuel A. Morley and published by . This book was released on 1979 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Pierpaolo Benigno
Publisher : International Monetary Fund
ISBN 13 : 1451871813
Total Pages : 48 pages
Book Rating : 4.4/5 (518 download)
Download or read book The Inflation-Unemployment Trade-off at Low Inflation written by Pierpaolo Benigno and published by International Monetary Fund. This book was released on 2009-03-01 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: Wage setters take into account the future consequences of their current wage choices in the presence of downward nominal wage rigidities. Several interesting implications arise. First, a closed-form solution for a long-run Phillips curve relates average unemployment to average wage inflation; the curve is virtually vertical for high inflation rates but becomes flatter as inflation declines. Second, macroeconomic volatility shifts the Phillips curve outward, implying that stabilization policies can play an important role in shaping the trade-off. Third, nominal wages tend to be endogenously rigid also upward, at low inflation. Fourth, when inflation decreases, volatility of unemployment increases whereas the volatility of inflation decreases: this implies a long-run trade-off also between the volatility of unemployment and that of wage inflation.
Author : Dennis Roth
Publisher :
ISBN 13 :
Total Pages : 21 pages
Book Rating : 4.:/5 (257 download)
Download or read book The Unemployment-inflation Tradeoff written by Dennis Roth and published by . This book was released on 1976 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Richard K. Crump
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (13 download)
Download or read book The Unemployment-Inflation Trade-off Revisited written by Richard K. Crump and published by . This book was released on 2022 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We estimate the natural rate of unemployment, often referred to as u*, in the United States using data on labor market flows, short-term and long-term inflation expectations and a forward-looking New-Keynesian Phillips curve for the 1960-2021 period. The natural rate of unemployment was at around 4.5% before the onset of the pandemic and increased to 5.9% by the end of 2021. This pronounced rise was primarily informed by strong wage growth rather than changes in inflation expectations. Despite the rise in the natural rate of unemployment, the secular trend of unemployment continued to fall and stands at around 4.2% reflecting ongoing secular developments which have been pushing down the unemployment rate over the last 30 years. Our model forecasts strong wage growth to moderate only sluggishly continuing to put upward pressure on inflation in the medium-run. We project underlying inflation to remain 0.5 percentage points above its long-run trend by the end of 2023 even if long-run inflation expectations remain well anchored. Given the importance of wage growth for the inflation outlook, we examine detailed micro data on job-filling rates, posted wages for vacant positions, and workers' reservation wages. In particular, we construct a composition-bias free measure of wage growth at the employer-job level using Burning Glass Technologies data and document strong wage growth for both teleworkable and non-teleworkable jobs. Moreover, we find that workers' reservation wages increased substantially after the pandemic. Our empirical analysis suggests that the strong wage growth is likely not a one-time adjustment of additional compensation for jobs that pose health risks to workers but rather reflects a tight labor market accompanied with a changing work-leisure trade-off.
Author : Eric V. Clifton
Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.:/5 (318 download)
Download or read book Inflation Targeting and the Unemployment-inflation Trade-off written by Eric V. Clifton and published by . This book was released on 2001 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Kenneth Levine
Publisher :
ISBN 13 :
Total Pages : 136 pages
Book Rating : 4.:/5 (552 download)
Download or read book The Unemployment-inflation Tradeoff and Changes in Segmental Real Income written by Kenneth Levine and published by . This book was released on 1974 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Marika Karanassou
Publisher :
ISBN 13 :
Total Pages : 58 pages
Book Rating : 4.E/5 ( download)
Download or read book A Reappraisal of the Inflation-unemployment Tradeoff written by Marika Karanassou and published by . This book was released on 2002 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Bruno Jossa
Publisher : Edward Elgar Publishing
ISBN 13 :
Total Pages : 184 pages
Book Rating : 4.F/5 ( download)
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.
Author : Douglas Laxton
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.:/5 (318 download)
Download or read book Monetary Policy Credibility and the Unemployment-Inflation Tradeoff written by Douglas Laxton and published by International Monetary Fund. This book was released on 2002-12 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using data on long-term interest rates for 17 industrial countries, this paper develops some simple measures of monetary policy credibility and then tests if such measures improve the out-of-sample forecasts of conventional models of the inflation-unemployment process. The results provide some evidence in favor of the Lucas critique by showing that the short-run unemployment-inflation trade-off tends to improve in countries that are successful in providing low and stable inflation.
Author : Bo Axell
Publisher :
ISBN 13 :
Total Pages : 28 pages
Book Rating : 4.:/5 (753 download)
Download or read book Is There a Long-run Trade-off Between Inflation and Unemployment? written by Bo Axell and published by . This book was released on 1985 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Willem H. Buiter
Publisher :
ISBN 13 :
Total Pages : 141 pages
Book Rating : 4.:/5 (73 download)
Download or read book Unemployment-inflation Trade-offs with Rational Expectations in an Open Economy written by Willem H. Buiter and published by . This book was released on 1980 with total page 141 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Robert James Gordon
Publisher : Cambridge University Press
ISBN 13 : 9780521531429
Total Pages : 520 pages
Book Rating : 4.5/5 (314 download)
Download or read book Productivity Growth, Inflation, and Unemployment written by Robert James Gordon and published by Cambridge University Press. This book was released on 2004 with total page 520 pages. Available in PDF, EPUB and Kindle. Book excerpt: Publisher Description
Author : Michael D. Bordo
Publisher : University of Chicago Press
ISBN 13 : 0226066959
Total Pages : 545 pages
Book Rating : 4.2/5 (26 download)
Download or read book The Great Inflation written by Michael D. Bordo and published by University of Chicago Press. This book was released on 2013-06-28 with total page 545 pages. Available in PDF, EPUB and Kindle. Book excerpt: Controlling inflation is among the most important objectives of economic policy. By maintaining price stability, policy makers are able to reduce uncertainty, improve price-monitoring mechanisms, and facilitate more efficient planning and allocation of resources, thereby raising productivity. This volume focuses on understanding the causes of the Great Inflation of the 1970s and ’80s, which saw rising inflation in many nations, and which propelled interest rates across the developing world into the double digits. In the decades since, the immediate cause of the period’s rise in inflation has been the subject of considerable debate. Among the areas of contention are the role of monetary policy in driving inflation and the implications this had both for policy design and for evaluating the performance of those who set the policy. Here, contributors map monetary policy from the 1960s to the present, shedding light on the ways in which the lessons of the Great Inflation were absorbed and applied to today’s global and increasingly complex economic environment.
Author : John Christopher Donovan
Publisher :
ISBN 13 :
Total Pages : 78 pages
Book Rating : 4.:/5 (492 download)
Download or read book The Inflation-unemployment Trade-off in the United States Revisited written by John Christopher Donovan and published by . This book was released on 2001 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Robert M. Solow
Publisher : MIT Press
ISBN 13 : 9780262692229
Total Pages : 140 pages
Book Rating : 4.6/5 (922 download)
Download or read book Inflation, Unemployment, and Monetary Policy written by Robert M. Solow and published by MIT Press. This book was released on 1998 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt: Edited and with an introduction by Benjamin M. Friedman The connection between price inflation and real economic activity has been a focus of macroeconomic research--and debate--for much of the past century. Although this connection is crucial to our understanding of what monetary policy can and cannot accomplish, opinions about its basic properties have swung widely over the years. Today, virtually everyone studying monetary policy acknowledges that, contrary to what many modern macroeconomic models suggest, central bank actions often affect both inflation and measures of real economic activity, such as output, unemployment, and incomes. But the nature and magnitude of these effects are not yet understood. In this volume, Robert M. Solow and John B. Taylor present their views on the dilemmas facing U.S. monetary policymakers. The discussants are Benjamin M. Friedman, James K. Galbraith, N. Gregory Mankiw, and William Poole. The aim of this lively exchange of views is to make both an intellectual contribution to macroeconmics and a practical contribution to the solution of a public policy question of central importance.
Author : Charles C. Holt
Publisher :
ISBN 13 :
Total Pages : 58 pages
Book Rating : 4.F/5 ( download)
Download or read book Improving the Labor Market Tradeoff Between Inflation and Unemployment written by Charles C. Holt and published by . This book was released on 1969 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:
