G2TT
来源类型Discussion paper
规范类型论文
来源IDDP2760
DP2760 The Effects of Fiscal Policy on Consumption and Employment: Theory and Evidence
Antonio Fatas; Ilian Mihov
发表日期2001-04-24
出版年2001
语种英语
摘要The Paper looks for evidence of grease and sand effects in Europe, in particular the possibility that the natural rate of unemployment is affected by the inflation rate. Looking at four countries, France, Germany, the Netherlands and Switzerland, the Paper reports some preliminary evidence that the long-run rate of unemployment is a non-linear function of inflation. The particular shape of the empirical relationship supports the view that a moderate level of inflation provides some ?grease? to the price and wage setting process. In particular, the long-run rate of unemployment is found to reach a maximum of between 0.5% and 1%, and to decline quickly for higher rates of inflation. For the range of inflation rates observed in the sample countries, there is no evidence of sand effects, that uncertainty associated with inflation adversely affect the long-run rate of unemployment.
主题International Macroeconomics
关键词Natural rate of unemployment inflation
URLhttps://cepr.org/publications/dp2760
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/531820
推荐引用方式
GB/T 7714
Antonio Fatas,Ilian Mihov. DP2760 The Effects of Fiscal Policy on Consumption and Employment: Theory and Evidence. 2001.
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