Strategic Monetary Policy with Non-Atomistic Wage Setters PDF Download
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Author: Francesco Lippi Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
Monetary policy analyses usually assume an atomistic private sector, thereby ignoring potential interactions between policy and wage-setting decisions. Yet, non-atomistic wage setters are a key feature of several industrialized economies. We study the economic consequence of non-atomistic agents and show that this qualifies previous results on the effects and desirability of a conservative central banker. In particular, the central bank aversion to inflation may have a permanent effect on structural employment, while no such effect emerges with atomistic agents.
Author: Francesco Lippi Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
Monetary policy analyses usually assume an atomistic private sector, thereby ignoring potential interactions between policy and wage-setting decisions. Yet, non-atomistic wage setters are a key feature of several industrialized economies. We study the economic consequence of non-atomistic agents and show that this qualifies previous results on the effects and desirability of a conservative central banker. In particular, the central bank aversion to inflation may have a permanent effect on structural employment, while no such effect emerges with atomistic agents.
Author: International Monetary Fund. Research Dept. Publisher: International Monetary Fund ISBN: 9781589063518 Category : Business & Economics Languages : en Pages : 216
Book Description
This paper tests uncovered interest parity (UIP) using interest rates on longer maturity bonds for the Group of Seven countries. These long-horizon regressions yield much more support for UIP—all of the coefficients on interest differentials are of the correct sign, and almost all are closer to the UIP value of unity than to zero. The paper also analyzes the decision by a government facing electoral uncertainty to implement structural reforms in the presence of fiscal restraints similar to the Stability and Growth Pact.
Author: Francesco Lippi
Author: Francesco Lippi
Author: Francesco Lippi
Author: Francesco Lippi
Author: Francisco Lippi
Author: Stefano Gnocchi
Author: Stefano Gnocchi
Author: Vincenzo Cuciniello
Author: International Monetary Fund. Research Dept.
Author: Ignazio Angeloni
Author: R. Beetsma