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The Inflation Unemployment Trade Off At Low Inflation
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Book Synopsis The Inflation-Unemployment Trade-off at Low Inflation by : Pierpaolo Benigno
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.
Book Synopsis The Inflation- Unemployment Trade-off at Low Inflation by :
Download or read book The Inflation- Unemployment Trade-off at Low Inflation written by and published by International Monetary Fund. This book was released on 2008 with total page 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.
Book Synopsis The Inflation-employment Trade-off at Low Inflation by : Pierpaolo Benigno
Download or read book The Inflation-employment Trade-off at Low Inflation written by Pierpaolo Benigno and published by . This book was released on 2008 with total page 39 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, nominal wages tend to be endogenously rigid also upward, at low inflation. Second, 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. Third, macroeconomic volatility shifts the Phillips curve outward, implying that stabilization policies can play an important role in shaping the trade-off. 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.
Book Synopsis Inflation and Unemployment by : Samuel A. Morley
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:
Book Synopsis IMF Working Papers by : Pierpaolo Benigno
Download or read book IMF Working Papers written by Pierpaolo Benigno and published by . This book was released on 2009 with total page 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 The Inflation-unemployment Trade-off in the United States Revisited by : John Christopher Donovan
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:
Book Synopsis The Great Inflation by : Michael D. Bordo
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.
Book Synopsis The Political Economy of the Inflation-unemployment Trade-off by : Robert Leeson
Download or read book The Political Economy of the Inflation-unemployment Trade-off written by Robert Leeson and published by . This book was released on 1995 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Inflation, Unemployment, and Monetary Policy by : Robert M. Solow
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.
Book Synopsis The Inflation Unemployment Trade-off by : Wilfred Beckerman
Download or read book The Inflation Unemployment Trade-off written by Wilfred Beckerman and published by . This book was released on 1985 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Inflation-unemployment Trade-off by : Anthony M. Santomero
Download or read book The Inflation-unemployment Trade-off written by Anthony M. Santomero and published by . This book was released on 1977 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Testing for Asymmetry in the Inflation-unemployment Trade-off by : Miguel St. Aubyn
Download or read book Testing for Asymmetry in the Inflation-unemployment Trade-off written by Miguel St. Aubyn and published by . This book was released on 2000 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis A Reappraisal of the Inflation-unemployment Tradeoff by : Marika Karanassou
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:
Book Synopsis Inflation Targeting and the Unemployment-inflation Trade-off by : Eric V. Clifton
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 :Franco Spinelli Publisher :London, Ont. : Department of Economics, University of Western Ontario ISBN 13 : Total Pages :19 pages Book Rating :4.:/5 (52 download)
Book Synopsis The Wage Inflation-unemployment Trade-off in Italy : a Critique of Modigliani and Tarantelli by : Franco Spinelli
Download or read book The Wage Inflation-unemployment Trade-off in Italy : a Critique of Modigliani and Tarantelli written by Franco Spinelli and published by London, Ont. : Department of Economics, University of Western Ontario. This book was released on 1978 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Phillips and the Inflation-unemployment Trade-off by : Simon Timothy Chapple
Download or read book Phillips and the Inflation-unemployment Trade-off written by Simon Timothy Chapple and published by . This book was released on 1996 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:
