Downward Nominal Wage Rigidity and the Case for Temporary Infl ation in the Eurozone
TLDR
Since the onset of the Great Recession in peripheral Europe, nominal hourly wages have not fallen from the high levels they had reached during the boom years as mentioned in this paper, this in spite of widespread in...Abstract:
Since the onset of the Great Recession in peripheral Europe, nominal hourly wages have not fallen from the high levels they had reached during the boom years—this in spite of widespread in...read more
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A Multidimensional Poverty Index for Latin America
TL;DR: Santos et al. as mentioned in this paper presented a study of economic and social sciences in the context of the CONGESTION ECONOMICA for Latin America Latina (CELAT), which was conducted at the Universidad Nacional del Sur.
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Fiscal Policy in an Unemployment Crisis
TL;DR: This paper showed that large fiscal multipliers arise naturally from equilibrium unemployment dynamics, and that even a temporary increase in government spending sets in motion a virtuous employment-spending spiral with a large associated multiplier.
Journal ArticleDOI
Nominal Wage Rigidity in Village Labor Markets
TL;DR: In this article, the authors examine wage and employment responses to rainfall shocks, which shift labor demand, in 500 Indian districts from 1956-2008, and find that wage rigidity lowers employment levels and increases employment volatility.
ReportDOI
Prudential Policy For Peggers
TL;DR: In this article, the authors show that in a small open economy with downward nominal wage rigidity pegging the nominal exchange rate creates a pecuniary externality, which causes unemployment, overborrowing, and depressed consumption.
Journal ArticleDOI
Recovery from the Great Depression: The Farm Channel in Spring 1933
TL;DR: In this paper, the effect of dollar devaluation on farm prices, incomes, and consumption has been studied, and it is shown that a substantial portion of the US industrial production in 1933 benefited from redistribution to farmers.
References
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Journal ArticleDOI
Rethinking Macroeconomic Policy
TL;DR: The authors review the main elements of the pre-crisis consensus, identify where we were wrong and what tenets of the framework still hold, and take a tentative first pass at the contours of a new macroeconomic policy framework.
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Business Cycles in Emerging Economies:The Role of Interest Rates
TL;DR: In this paper, the empirical relation between the interest rates that emerging economies face in international capital markets and their business cycles was investigated, showing that interest rate shocks alone can explain 50% of output fluctuations and can generate business cycle patterns consistent with the regularities described above and with the major booms and recessions in Argentina in the last two decades.
Book
Collected Writings of John Maynard Keynes
TL;DR: In this article, the authors present a list of published and unpublished items in the history of the edition of this book. But they do not specify the categories of published material and the list is not exhaustive.
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The case for flexible exchange rates
TL;DR: In this paper, the double objective of the return to convertibility and the liberalisation of imports cannot be reached unless exchange rates are allowed to move, and the authors show that a policy of fluctuating rates is superior to these methods.
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