Strategic Monetary Policy with Non-atomistic Wage-setters PDF Download

Author: Francesco Lippi
Publisher:
ISBN:
Category : Inflation (Finance)
Languages : en
Pages : 46

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Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
ISBN: 9781589063518
Category : Business & Economics
Languages : en
Pages : 216

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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: R. Beetsma
Publisher: Cambridge University Press
ISBN: 9780521041836
Category : Business & Economics
Languages : en
Pages : 396

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A survey of fiscal policy, monetary policy and labour markets in the European Monetary Union.

Author: Nicola Acocella
Publisher: Cambridge University Press
ISBN: 131667942X
Category : Business & Economics
Languages : en
Pages : 355

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The recent financial crisis has demonstrated the dangers of ignoring the factors that led to previous crises, and the effectiveness of the policies designed to deal with them. Over time, these macroeconomic policies have evolved, oscillating between state intervention and a free-market approach. Following a story that runs from the pre-Great Depression era up until the Financial Crisis of 2007–11, this book reveals an intimate connection between new macroeconomic ideas and policies and the events in the real economy that inspired them. It does this in an accessible, easy-to-follow style, first by focusing on the developments of economic theories and policies, and then by concentrating on the design of domestic and international institutions and economic governance. Written by three leading experts on the history of economic policy, the book is ideal for graduates and undergraduates studying macroeconomics, monetary policy and the history of economic thought.

Author: Ignazio Angeloni
Publisher: Cambridge University Press
ISBN: 9780521828642
Category : Business & Economics
Languages : en
Pages : 398

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A systematic analysis of the impact of European Central Bank monetary policy on Eurozone national economies, first published in 2003.

Author: Nicola Acocella
Publisher: Cambridge University Press
ISBN: 1107023866
Category : Business & Economics
Languages : en
Pages : 367

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A new unified theory of economic policy which responds to conflicts between strategic public and private policymakers.

Author: Heinz Herrmann
Publisher: Routledge
ISBN: 1135214360
Category : Business & Economics
Languages : en
Pages : 263

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This book looks at independence, how central banks can actually influence their respective economies, goals responsibilities and governance with contributions from such scholars as Anne Sibert and Forrest Capie.

Author: Andrea Nobili
Publisher:
ISBN:
Category : Business forecasting
Languages : en
Pages : 66

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Author: Armin Steinbach
Publisher: Routledge
ISBN: 1317689623
Category : Business & Economics
Languages : en
Pages : 213

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The European debt crisis has given new impetus to the debate on economic policy coordination. In economic literature, the need for coordination has long been denied based on the view that fiscal, wage and monetary policy actors should work independently. However, the high and persistent degree of macroeconomic disparity within the EU and the absence of an optimum currency area has led to new calls for examining policy coordination. This book adopts an institutional perspective, exploring the incentives for policymakers that result from coordination mechanisms in the fields of fiscal, monetary and wage policy. Based on the concept of externalities, the work examines cross-border spillovers (e.g. induced by fiscal policy) and cross-policy spillovers (e.g. between fiscal and monetary policies), illuminating how they have empirically changed over time and how they have been addressed by policymakers. Steinbach introduces a useful classification scheme that distinguishes between vertical and horizontal coordination as well as between cross-border and cross-policy coordination. The author discusses farther-reaching forms of fiscal coordination (e.g. debt limits, insolvency proceedings, Eurobonds) with special attention to how principals of state organization affect their viability. Federal states and Bundesstaaten differ in the incentives they offer for debt accumulation – and thus in their suitability for fiscal coordination. Steinbach finds that the originally strict separation between policy areas has undergone significant change during the debt crisis. Indeed, recent efforts to coordinate policy are no longer limited to one policy area, but now extend to several areas. Steinbach argues that further fiscal policy coordination can be effectively deployed to address policy externalities, but that the coordination mechanisms used must match the form of state organization in the first place. Regarding wage policies, there are significant barriers to coordination. Notwithstanding some empirical successes in the implementation of a productivity-oriented wage policy, the high heterogeneity of national wage-setting institutions is likely to prevent any wage coordination.

Author: Marco Taboga
Publisher:
ISBN:
Category : Portfolio management
Languages : en
Pages : 52

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