Monetary Policy and Unemployment: The US, Euro-area and JapanThis book pulls together papers presented at a conference in honour of the 1981 Nobel Prize Winner for Economic Science, the late James Tobin. Among the contributors are Olivier Blanchard, Edmund Phelps, Charles Goodhart and Marco Buti. One of the main aims of the conference was to discuss what potential role monetary policy has on economic activity and unemployment reduction in three key currency zones - the United States, European Union and Japan. |
Contents
| 1958 | |
| 1967 | |
the aggregate | 1973 |
a comment on Blanchard and Wolfers | 2000 |
a modelbased sensitivity analysis | 2002 |
a theoretical explanation | 1971 |
a study of the German economy | |
The constitutional position of the Central Bank | |
the Taylor rule in the 1970s | |
past present and future | |
What is the impact of tax and welfare reforms on fiscal stabilizers? A simple model and | |
Other editions - View all
Monetary Policy and Unemployment: The US, Euro-Area and Japan Willi Semmler No preview available - 2012 |
Monetary Policy and Unemployment: The US, Euro-area, and Japan Willi Semmler No preview available - 2005 |
Common terms and phrases
actual asset prices automatic stabilizers average Blanchard capital Central Bank chapter coefficient consumption countries decrease deflator Demand shock deviation domestic dynamics Economic effects employment protection equation equilibrium unemployment estimates Euro-area European unemployment evolution expected inflation Figure firms fiscal policy forward-looking function growth rate higher Hysteresis increase inflation rate inflation targeting inflationary interactions investment James Tobin Japan Japanese economy labor market institutions long run macroeconomic measures monetary authority monetary policy rules money supply Nairu natural rate Nickell nominal interest rate OECD Olivier Blanchard open economy optimal output gap parameters pegged exchange rates percent period Phillips curve potential output rate of interest rate of unemployment real exchange rate real interest rate real wages sector share prices shift simulations steady-state structural Supply shock Table tax rate Taylor rule TFP growth Tobin transmission mechanism uncertainty unemployment rate United variables Yoshikawa