The Real Effects of Credible Disinflation in the Presence of Real Wage Rigidities

Wolfgang Lechthaler , Mewael Tesfaselassie

We analyze the implications of trend growth for optimal monetary policy in the presence of search and matching unemployment. We show...

Journal Article

International Journal of Central Banking

forthcoming

Nils Jannsen , Galina Potjagailo , Maik Wolters

The effects of monetary policy during financial crises differ substantially from those in normal times. Using a panel VAR for 20...

Eric Schaling , Mewael Tesfaselassie

Available evidence supports the view that growth is faster in more open economies. In order to analyze the implications of openness...

Martin Plödt , Helmut Herwartz

We analyze the dynamics in the global crude oil market based on a structural vector autoregressive model. We identify the model by...

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