[PDF] Top 20 Optimal Monetary Policy in a Dual Labor Market Economy

... Optimal Monetary Policy in a Dual Labor Market Economy Rossi, Lorenza and Mattesini, Fabrizio Universita Cattolica del Sacro Cuore, Milano.. Online at https://mpra.ub.uni-muenchen.de/246[r] ... See full document

... an economy composed of two sectors: one where real wages do not adjust in response to productivity shocks and one where real wages adjust; the relative weight of the unionized and competitive sectors can be taken ... See full document

... of labor causes lower employment per …rm on the transition path, which in turn reduces economic growth ...of market structure. Intuitively, some …rms exit the market as a result of the smaller ... See full document

... asset market participation, establishing that optimal monetary policy weakly responds to ...that optimal monetary policy faces a non-trivial tradeo¤ between the ... See full document

... a monetary Schumpeterian growth model with endogenous market structure (EMS) to explore the e¤ects of monetary policy on the number of …rms, …rm size, economic growth and social ...which ... See full document

... implicit policy instruments and bonds of different ma- turity dates as explicit policy instrument, time consistency of OMFP hinges on whether the t = 0 government has sufficient effective implicit ... See full document

... 1 Introduction This paper studies optimal monetary policy in the presence of Downward Nominal Wage Rigidity DNWR within a labor search and matching model.1 When nominal wages are downwar[r] ... See full document

... the economy is hit by technology and ex- ogenous wage shocks, monetary policy presents some interesting peculiarities relative to the standard ...future policy actions. In this case ... See full document

... the labor market. In a unionized economy, signi…cant trade-o¤s between stabilizing in‡ation and stabilizing unemploy- ment arise in response to technology and exogenous wage ...an optimal ... See full document

... Productivity shocks and Optimal Monetary Policy in a Unionized Labor Market Economy Mattesini, Fabrizio and Rossi, Lorenza Universita Cattolica del Sacro Cuore, Milano.. Online at https:[r] ... See full document

... Productivity shocks and Optimal Monetary Policy in a Unionized Labor Market Economy Mattesini, Fabrizio and Rossi, Lorenza Università di Roma "Tor Vergata".. Online at https://mpra.ub.un[r] ... See full document

... the policy variable and adjusting the capital-labor ratio in market economy to the modified golden rule level to maximize the social welfare, we find the optimal firm contribution ... See full document

... monthly data are converted into a semi-annual series using a 6-month centered moving average. The data on unemployment rates are at the municipal level, which is also true for prices and income. These data are also ... See full document

... The monetary policy strategy of a Central bank depends on a number of factors that are unique to the country and the ...the policy objectives, any good strategy depends on the macroeconomic and the ... See full document

... that policy makers minimize a quadratic loss function subject to a linear IS equation and a Philips curve —the assumption that the vast majority of research on optimal policy rules has ...the ... See full document

... countercyclical policy regime over the same ...political economy by taking into account either economic theories or microeconomic financial assumptions (Kim, ...follow optimal stabilization policies, ... See full document

... European Monetary Union has become increasingly strident since the onset of the euro crisis in September ...European Monetary Union was no longer so daunting as it had once ...European Monetary Union ... See full document

... exact policy, the exact welfare cost function is minimized by policy authorities, the central bank, and the government while under the false policy, they minimize a false welfare cost ... See full document

... Open market operations as a tool of monetary policy... Economic Principles.[r] ... See full document

... Conclusion In an IS-LM model with reserve market, we have reexamined the issue of optimal instrument choice for monetary policy by comparing a funds rate operating procedure with other o[r] ... See full document