Results 51 to 60 of about 200,247 (275)
How Can Inflation Contracts Discipline Central Bankers When Agents Are Learning?
Bulletin of Economic Research, EarlyView.ABSTRACT This paper studies, in a new Keynesian model with a positive optimal output gap, how to design linear inflation contracts to shape the central bank's incentive structure when private expectations are based on adaptive learning. In this model, under rational expectations, inflation contracts could only partially deal with the time‐inconsistency
Marine Charlotte André, Meixing Dai
wiley +1 more source
Two Different Views on Monetary Policy Impact: The New Consensus and Post-Keynesian Economics [PDF]
Theoretical and Applied Economics, 2007 The objective of this study is to make a synthesis of the differences between two new macroeconomic views. A New Consensus has arisen among neoclassical and New-Keynesian economists, such as Romer, Taylor and Walsh.
Marius-Corneliu Marinas
doaj +1 more source
The Unemployment‐Risk Channel in Business‐Cycle Fluctuations
International Economic Review, EarlyView.ABSTRACT The unemployment‐risk channel (URC) amplifies an initial contraction through a reduction in consumption demand by workers who fear unemployment. Crucial for this are the dynamics of job separations and firm hiring. In US data, the job‐finding rate responds slower to identified macroeconomic shocks than the separation rate, but accounts for a ...
Tobias Broer +3 more
wiley +1 more source
The Long March Through the Institutions and the Fifth Wave of Juridification
Constellations, EarlyView.
Olof Hallonsten
wiley +1 more source
When in Doubt, Tax More Progressively? Uncertainty and Progressive Income Taxation
International Economic Review, EarlyView.ABSTRACT We study the optimal income tax problem under parameter uncertainty about household preferences and wage dynamics. We derive conditions characterizing how such uncertainty affects optimal tax policy. To quantify the effect, we estimate a life‐cycle model using US data and a Bayesian approach.
Minsu Chang, Chunzan Wu
wiley +1 more source
JCMS: Journal of Common Market Studies, EarlyView.Abstract The idea that the German public continues to suffer from the collective trauma of the experiences of hyperinflation in 1923 remains a prominent theme in Germany's public discourse. As such, it is often invoked when explaining the country's peculiar stability culture – its aversion to inflation and preference for stability‐oriented monetary and
David Barkhausen
wiley +1 more source
Monetary Economics: Post-Keynesian Stock-Flow Consistent Approach (PK-SCF) Versus New-Keynesian Dynamic Stochastic General Equilibrium (NK-DSGE) [PDF]
, 2022 Dushko Josheski, Tatjana Boshkov
openalex +1 more source
Unemployment Benefits in the EU: The Commission's Approach
JCMS: Journal of Common Market Studies, EarlyView.Abstract Unemployment insurance is a major component of European welfare regimes, whereby each EU member state has its own distinctive scheme. Despite falling under national competence, the European Commission has exercised pressure over this policy area since the establishment of the European Employment Strategy.
Igor Guardiancich +2 more
wiley +1 more source
After a brief review of classical, Keynesian, New Classical and New Keynesian theories of macroeconomic policy, we assess whether New Keynesian Economics captures the quintessential features stressed by J.M. Keynes.
Frederick van der Ploeg
core
The place of The General Theory in the economics canon
Iberian Journal of the History of Economic Thought, 2020 This paper presents in non-technical language an interpretation of the argument of The General Theory, which is the importance of effective demand and its relation to human agency.
Constantinos Repapis
doaj +1 more source