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  1. The trade-off between inflation and unemployment in an MMT world: an open economy perspective
    Erschienen: October 2020
    Verlag:  Levy Economics Institute, Annandale-on-Hudson, NY

    This paper is focused on Modern Monetary Theory's (MMT) treatment of inflation from an open economy perspective. It analyzes how the inflation process is explained within the MMT framework and provides empirical evidence in support of this vision.... mehr

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    This paper is focused on Modern Monetary Theory's (MMT) treatment of inflation from an open economy perspective. It analyzes how the inflation process is explained within the MMT framework and provides empirical evidence in support of this vision. However, it also makes use of a stock-flow consistent (open economy) model to underline some limits of the theory when it is applied in the context of a non-US (relatively) open economy with a flexible exchange rate regime. The model challenges the contention made by MMTers that measures such as the job guarantee program can achieve full employment without facing an inflation-unemployment trade-off.

     

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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/238663
    Schriftenreihe: Working paper / Levy Economics Institute of Bard College ; no. 973
    Umfang: 1 Online-Ressource (circa 42 Seiten), Illustrationen
  2. Stagnation despite ongoing innovation
    is R&D expenditure composition a missing link? ; an empirical analysis for the US (1948-2019)
    Erschienen: [2022]
    Verlag:  Università di Siena, [Siena]

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    Schriftenreihe: Quaderni del Dipartimento di economia politica e statistica ; n. 877 (aprile 2022)
    Schlagworte: Secular Stagnation; public and private R&D; innovation policy; research productivity; productivity growth
    Umfang: 1 Online-Ressource (circa 45 Seiten), Illustrationen
  3. The cost channel of monetary policy
    the case of the United States in the period 1959-2018
    Erschienen: [2021]
    Verlag:  Dipartimento di Economia, Università degli Studi Roma Tre, Roma

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    Schriftenreihe: Working papers / Dipartimento di economia Università degli studi Roma Tre ; no 262 (2021)
    Schlagworte: Price Puzzle; Structural Vector Autoregressions; United States
    Umfang: 1 Online-Ressource (circa 55 Seiten), Illustrationen
  4. Cross-Border financial effects of global warming
    Erschienen: [2019]
    Verlag:  Department of Economics, University of Massachusetts Amherst, Amherst

    We develop an ecological open-economy SFC model that enables testing cross-area interactions among productive sectors, financial markets and the ecosystem. We show that the unequal technical progress across areas, coupled with rising ecological... mehr

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    We develop an ecological open-economy SFC model that enables testing cross-area interactions among productive sectors, financial markets and the ecosystem. We show that the unequal technical progress across areas, coupled with rising ecological awareness, can force governments of less ecologically efficient areas to move further away from low-carbon assets. We argue that "green" monetary and fiscal policies can be used to tackle climate change and financial instability. However, their effectiveness depends crucially on the impact of cross-border financial flows and growth rate differentials on exchange rates. Without a cross-area policy coordination plan, currency fluctuations can bring about unintended consequences, undermining green policies' effects.

     

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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/202956
    Auflage/Ausgabe: Last revision: 18 Feb 2019
    Schriftenreihe: Working paper / Department of Economics, University of Massachusetts Amherst ; 2019, 02
    Umfang: 1 Online-Ressource (circa 50 Seiten), Illustrationen