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Monday, July 27, 2020 | History

6 edition of Monetary Policy and the German Unemployment Problem in Macroeconomic Models found in the catalog.

Monetary Policy and the German Unemployment Problem in Macroeconomic Models

Theory and Evidence (Kieler Studien - Kiel Studies)

by Jan Gottschalk

  • 94 Want to read
  • 29 Currently reading

Published by Springer .
Written in English

    Subjects:
  • Economics, Finance, Business and Industry,
  • Reference works,
  • Labor,
  • Econometric models,
  • Business & Economics,
  • Business / Economics / Finance,
  • Business/Economics,
  • Unemployment,
  • Monetary policy,
  • Economics - Macroeconomics,
  • Applied Macroeconomics,
  • Business & Economics / Macroeconomics,
  • Business Cycle Research,
  • Reference - General,
  • Germany

  • The Physical Object
    FormatHardcover
    Number of Pages288
    ID Numbers
    Open LibraryOL9055523M
    ISBN 103540256504
    ISBN 109783540256502

      Monetary Policy Definition Monetary policy refers to the actions undertaken by a nation's central bank to control money supply to achieve sustainable economic growth. more. 7 Macroeconomic Measures: Unemployment and Inflation Why It Matters: Unemployment and Inflation Analysis of a Demand/Supply Shock using the AD-AS Model; Assignment: Problem Set — The Aggregate Demand-Aggregate Supply Model; 13 Monetary Policy Why It Matters: Monetary Policy; Banks, Loan Finance, and the Payments System.

    Keynesian and Monetarist Views on the German Unemployment Problem Theory and Evidence Since in Keynesian models economic policy can affect the state of the With fiscal and monetary policy.   As a result, central banks will be less tempted to try to exploit the short-run tradeoff between inflation and unemployment, as in the Barro-Gordon () model, and so will be less likely to pursue overly expansionary monetary policy that leads to higher inflation.

    Frank Heinemann is professor of macroeconomics at the Berlin University of Technology. His main research interests are monetary macroeconomics, financial crises, and experimental economics. Ulrich Klüh is professor of economics at Hochschule Darmstadt. His main research interests are macroeconomic theory and policy, central banking, financial markets and institutions, and history . Macroeconomic policy after pushed the economy into an inflationary gap. The push into an inflationary gap did produce rising employment and a rising real GDP. But the inflation that came with it, together with other problems, would create real difficulties for the economy and for macroeconomic policy in the s.


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Monetary Policy and the German Unemployment Problem in Macroeconomic Models by Jan Gottschalk Download PDF EPUB FB2

Having the high unemployment in Germany in mind, this book discusses how macroeconomic theory has evolved over the past forty years.

It shows that in recent years a convergence has taken place, with modern models embodying a Keynesian transmission mechanism, monetarist policy implication, and modeling techniques inspired by new classical economics and real business cycle theory.

Monetary Policy and the German Unemployment Problem in Macroeconomic Models: Theory and Evidence (Kieler Studien - Kiel Studies Book ) - Kindle edition by Jan Gottschalk.

Download it once and read it on your Kindle device, PC, phones or tablets. Use features like bookmarks, note taking and highlighting while reading Monetary Policy and the German Unemployment Problem in Macroeconomic Models.

Get this from a library. Monetary policy and the German unemployment problem in macroeconomic models: theory and evidence. [Jan Gottschalk] -- Having the high unemployment in Germany in mind, this book discusses how macroeconomic theory has evolved over the past forty years. It shows that in recent years a convergence has taken place, with.

Monetary policy and the German unemployment problem in macroeconomic models: theory and evidence. [Jan Gottschalk] Having the high unemployment in Germany in mind, this book discusses how macroeconomic theory has evolved over the past forty years.

# Monetary policy--Econometric models\/span>\n \u00A0\u00A0\u00A0\n schema. Monetary Policy and the German Unemployment Problem in Macroeconomic Models: Having the high unemployment in Germany in mind, this book discusses how macroeconomic theory has evolved over the past forty years.

It shows that in recent years a convergence has taken place, with modern models embodying a Keynesian transmission mechanism, monetarist policy implication, and Author: Jan Gottschalk.

Monetary policy and the German unemployment problem in macroeconomic models. Summary: Having the high unemployment in Germany in mind, this book discusses how macroeconomic theory has evolved over the past forty years. () Keynesian and Monetarist Views on the German Unemployment Problem.

In: Monetary Policy and the German Unemployment Problem in Macroeconomic Models. Kieler Studien. This conference volume deals with one of the most severe economic, social and political problems major European economies face since the early nineties, the problem of lasting high unemployment. Contrary to the current German discussion, solely concentrating on microeconomic explanations and therapy recommendations, this volume presents papers based on various macro-economic points of.

According to McCallum (a), this type of model represents the standard model used for macroeconomic analysis. For a nontechnical review, see King (). An extensive derivation and discussion is provided in Woodford (). The seminal contribution on the analysis of monetary policy in New Keynesian models is Clarida et al.

Google. Monetary policy affects aggregate demand and inflation through a variety of channels. Adverse shocks, such as an oil price increase, can lead to higher unemployment and higher inflation.

Many governments have given responsibility for monetary policy—often described as inflation targeting—to central banks.

Monetary policy and the German unemployment problem in macroeconomic models: theory and evidence. [Jan Gottschalk] Having the high unemployment in Germany in mind, this book discusses how macroeconomic theory has evolved over the past forty years.

# Monetary policy--Econometric models\/span> \u00A0\u00A0\u00A0 schema. On July 1,the economies of the two German states became was the first time in history that a capitalist and a socialist economy had suddenly become one, and there were no precise guidelines on how it could be done.

Instead, there were a number of problems, of which the most severe were the comparatively poor productivity of the former East German economy and its links to the. From this perspective, arguments about the German current account surplus are beside the point.

Macroeconomic policy should not be geared to current account surpluses or deficits, but to economic fundamentals like unemployment and inflation. In the absence of fiscal union, German macroeconomic policy looks OK from a German point of view.

Identify the lag that may have contributed to the difficulty in using monetary policy as a tool of economic stabilization. The U.S. economy entered into a recession in July The Fed countered with expansionary monetary policy in Octoberultimately.

The German economy, like those of many other western nations, suffered the effects of the Great Depression with unemployment soaring around the Wall Street Crash of When Adolf Hitler became Chancellor of Germany inhe introduced policies aimed at improving the economy.

The changes included privatization of state industries, autarky (national economic self-sufficiency), and. Thus, monetary policy and fiscal policy both directly affect consumption, investment, and net exports through the interest rate.

For example, say the Fed uses expansionary monetary policy such as purchasing government bonds, decreasing the reserve requirement, or. A key part of macroeconomics is the use of models to analyze macro issues and problems. How is the rate of economic growth connected to changes in the unemployment rate.

This section also relates the model of aggregate demand and aggregate supply to the three goals of economic policy (economic growth, stable prices (low inflation), and full. The supervisors of my thesis were Prof. Flaig and Prof.

Marin. I would like thank both for their thorough reading of the book and their ideas and critical remarks. lowe much gratitude to my academic teacher Prof. Flaig for many insightful conversations about modern time series econometrics, asymptotic theory and data problems.

Today, virtually everyone studying monetary policy acknowledges that, contrary to what many modern macroeconomic models suggest, central bank actions often affect both inflation and measures of real economic activity, such as output, unemployment, and incomes.

But the nature and magnitude of these effects are not yet understood. Macroeconomics (from the Greek prefix makro-meaning "large" + economics) is a branch of economics dealing with the performance, structure, behavior, and decision-making of an economy as a whole.

This includes regional, national, and global economies. Macroeconomists study topics such as GDP, unemployment rates, national income, price indices, output, consumption, unemployment, inflation. “Hysteresis and the European Unemployment Problem.” In NBER Macroeconomics Annual, edited by Fischer, S., Vol.

1, 15– Cambridge: MIT Press], stronger demand fueled, for instance, by monetary policy may, as a corollary, be able to reverse such effects.The explanation for the fact that Americans enjoyed such a long period of falling inflation and unemployment in the s lies partly in improved policy, policy that takes those lags into account.

We will see that a bit of macroeconomic luck in aggregate supply has also played a role. Moreover, interest rates are low and unlikely to rise soon: the ECB sets monetary policy for the euro area, where there is still plenty of economic slack, not just for Germany, where there is little.