The macroeconomic policy setting
Essays on macroeconomic policy
... Wage Setting, State Intervention and Social Pacts, 1960-2011) indices, Italy and Greece have higher unionisation and coordination of bargaining, reflected in our model by lower bargaining power for firms, compared ...
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Essays on macroeconomic policy
... These reversals are inconsistent with the ‘standard discounted utility’ model which relies on exponential discounting with constant intertemporal discount rate. Both psy- chologists and behavioral economists suggested ...
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On Monetary Integration and Macroeconomic Policy
... monetary policy cannot handle it? Paper II of this thesis suggests that the answer is in wage ...wage setting. In the model wage setters maximize utility by setting nominal wages either before shocks ...
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A New Paradigm for Macroeconomic Policy
... monetary policy arrangements are powerless to deal with those ...for setting the rate of interest, “the 2- percent ‘equilibrium’ real rate is close to the assumed steady-state growth rate of ...
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Macroeconomic modelling of monetary policy
... At this point I would like to consider two sub-classes of models for the econ- omy that have both been empirically applied in related contexts and which have di¤erent advantages in the current setting. First, I ...
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Relating Carbon Dioxide Emissions with Macroeconomic Variables in the Philippine Setting
... Philippine policy makers are faced with difficult decisions regarding long-run economic growth and environment paths that the country must ...sound policy choices, there is a need for empirical evidence on ...
9
Macroeconomic effects of EU Competition Policy
... 2.1 Aggregate Demand According to [5] model there are two types of households: liquidity- and non-liquidity-constrained households. They possess the same utility function, non-separable in consumption and leisure with ...
8
Monetary Policy Rules and Macroeconomic Stability
... when setting its policy interest ...monetary policy transmission lags and consistent with informal discussions of Federal Reserve’s policy ...
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Macroeconomic Modeling for Monetary Policy Evaluation
... Since expectations play no role in in‡ation dynamics, the only way to reduce in‡ation in the short run is to contract economic activity. In contrast, with the new Phillips curve expectations play a critical role and, as ...
51
Macroeconomic modeling for monetary policy evaluation
... Since expectations play no role in in‡ation dynamics, the only way to reduce in‡ation in the short run is to contract economic activity. In contrast, with the new Phillips curve expectations play a critical role and, as ...
50
Macroeconomic policy and labour market structure
... Discerning which came first, decentralisation or increased conservatism, is not straightforward, since discerning changes in the effective degree of wage coordination or of central bank conservatism is itself not easy. ...
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The macroeconomic effects of fiscal policy
... fiscal policy on economic ...fiscal policy on the composition of GDP, namely, by estimating the impact of government spending and government revenue shocks on private consumption and private ...fiscal ...
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Macroeconomic effects of fiscal policy
... In this context, this thesis attempts to reconcile the two alternative approaches which show contrasting results in the existing empirical literature on the macroeconomic effects of fiscal policy. The main ...
201
Macroeconomic policy and potential growth
... the policy maker can use: make it more costly for …rms to enter the market or make it less pro…table for households to start-up the creation of new ...a policy would of course depress the dynamics of the ...
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Macroeconomic Policy in an Open Economy
... To stop the exchange rate from rising the government starts sells dollar in the market , this increases money supply and government starts sells dollar in the market , this increa[r] ...
11
The Macroeconomic Effects of Fiscal Policy
... fiscal policy on economic ...fiscal policy on the composition of GDP, namely, by estimating the impact of government spending and government revenue shocks on private consumption and private ...fiscal ...
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Macroeconomic effects of fiscal policy
... fiscal policy is one of the key results of the ...the macroeconomic effects of government spending tends to find mixed effects on private consumption, real wage or private ...
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Elections and Macroeconomic Policy Cycles
... The incumbent party All agents observe I Markets clear, period t election observes the latest the most recent Voters observe takes office for shock to its competency shock to voter pre- [r] ...
44
The macroeconomic effects of fiscal policy
... “a serious and baffling problem in our dollar balance”. 65 Overall Budget Objectives The Chancellor summarised his judgement as largely “more of the same”. The 1949 Budget was to follow a similar theme to the 1948 one: ...
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Fiscal Policy Is Still an Effective Instrument of Macroeconomic Policy
... fiscal policy on aggregate demand and economic activity depends heavily on the theoretical model and its assumptions about the real world where the policy is ...old macroeconomic models with sluggish ...
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