Wage Indexation And Time Consistent Monetary Policy
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Wage Indexation And Time Consistent Monetary Policy
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Author :
language : en
Publisher:
Release Date : 1989
Wage Indexation And Time Consistent Monetary Policy written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1989 with categories.
Wage Indexation And Time Consistent Monetary Policy
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Author : Carlos Balseyro Rodriguez
language : es
Publisher:
Release Date : 1989
Wage Indexation And Time Consistent Monetary Policy written by Carlos Balseyro Rodriguez and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1989 with categories.
Wage Indexation And Time Consistency
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Author : Gian Maria Milesi-Ferretti
language : en
Publisher:
Release Date : 1993
Wage Indexation And Time Consistency written by Gian Maria Milesi-Ferretti and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with Economic stabilization categories.
Wage Indexation And The Time Consistency Of Government Policy
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Author : Mark Crosby
language : en
Publisher:
Release Date : 1994
Wage Indexation And The Time Consistency Of Government Policy written by Mark Crosby and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with Wages categories.
Wage Indexation And Time Consistent Monetary Policy
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Author : Laurence M. Ball
language : en
Publisher:
Release Date : 1989
Wage Indexation And Time Consistent Monetary Policy written by Laurence M. Ball and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1989 with Indexation (Economics) categories.
This paper investigates the effects of wage indexation on the time-consistent level of inflation. Departing from previous work on time-consistent policy, we study a structural model of the economy. Indexation reduces the cost of inflation, which is inflationary, and steepens the Phillips curve, which is anti-inflationary. In most cases, the net effect is to raise inflation but also to raise welfare: the loss from higher inflation is outweighed by the gain from greater protection against inflation.
The Great Inflation
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Author : Michael D. Bordo
language : en
Publisher: University of Chicago Press
Release Date : 2013-06-28
The Great Inflation written by Michael D. Bordo and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-06-28 with Business & Economics categories.
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.
Central Bank Policy
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Author : Perry Warjiyo
language : en
Publisher: Emerald Group Publishing
Release Date : 2019-07-25
Central Bank Policy written by Perry Warjiyo and has been published by Emerald Group Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-07-25 with Business & Economics categories.
Central Bank Policy: Theory and Practice analyses various policies, theories and practices adopted by central banks, as well as the institutional arrangements underlying the principles of good governance in policy-making. It is the first book to comprehensively discuss the latest theories and practices of central bank policy.
Designing A Simple Loss Function For Central Banks
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Author : Davide Debortoli
language : en
Publisher: International Monetary Fund
Release Date : 2017-07-21
Designing A Simple Loss Function For Central Banks written by Davide Debortoli and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-07-21 with Business & Economics categories.
Yes, it makes a lot of sense. This paper studies how to design simple loss functions for central banks, as parsimonious approximations to social welfare. We show, both analytically and quantitatively, that simple loss functions should feature a high weight on measures of economic activity, sometimes even larger than the weight on inflation. Two main factors drive our result. First, stabilizing economic activity also stabilizes other welfare relevant variables. Second, the estimated model features mitigated inflation distortions due to a low elasticity of substitution between monopolistic goods and a low interest rate sensitivity of demand. The result holds up in the presence of measurement errors, with large shocks that generate a trade-off between stabilizing inflation and resource utilization, and also when ensuring a low probability of hitting the zero lower bound on interest rates.
The Management Of An Open Economy With 100 Plus Wage Indexation
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Author : Franco Modigliani
language : en
Publisher:
Release Date : 1978
The Management Of An Open Economy With 100 Plus Wage Indexation written by Franco Modigliani and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1978 with Business & Economics categories.
The Effects Of Monetary Policy Shocks On Inequality
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Author : Davide Furceri
language : en
Publisher: International Monetary Fund
Release Date : 2017-01-18
The Effects Of Monetary Policy Shocks On Inequality written by Davide Furceri and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-01-18 with Business & Economics categories.
This paper provides new evidence of the effect of monetary policy shocks on income inequality. Using a measure of unanticipated changes in policy rates for a panel of 32 advanced and emerging market countries over the period 1990-2013, the paper finds that contractionary (expansionary) monetary actions increase (reduce) income inequality. The effect, however, varies over time, depending on the type of the shocks (tightening versus expansionary monetary policy) and the state of the business cycle, and across countries depending on the share of labor income and redistribution policies. In particular, we find that the effect is larger for positive monetary policy shocks, especially during expansions. Looking across countries, we find that the effect is larger in countries with higher labor share of income and smaller redistribution policies. Finally, while an unexpected increase in policy rates increases inequality, changes in policy rates driven by an increase in growth are associated with lower inequality.