全球智库信息集成服务系统(G2TT): DP2970 Shocks and Institutions in a Job Matching Model

G2TT

来源类型	Discussion paper
规范类型	论文
来源ID	DP2970
	DP2970 Shocks and Institutions in a Job Matching Model
	Wouter Den Haan; Christian Haefke; Gary Ramey
发表日期	2001-09-26
出版年	2001
语种	英语
摘要	One of the most striking macroeconomic phenomena in recent decades has been the achievement of rather low and more stable rates of inflation in many countries. Consequently, the main goal of this Paper is to offer an overview of the main policy issues arising in a low inflation environment and their practical relevance so as to identify the main challenges facing central bankers in such an environment. The Paper asks the following questions: To what extent are the public's attitudes towards price stability relative to other economic objectives ? like unemployment ? likely to change over time? How can the effectiveness of monetary policy change as a result of the non-linearities associated with the zero bound on nominal interest rates, the supposedly higher degree of downward real wage rigidity and, in general, the presence of downward nominal wage or price rigidities? What does the low inflation environment imply about the relative importance and effects of supply shocks, ?non-monetary? demand shocks and ?monetary? demand shocks? What sort of indicators are like to be more useful to the central bank for assessing inflationary pressures and, in particular, should asset prices play a bigger role in the conduct of monetary policy?
主题	International Macroeconomics
关键词	monetary policy inflation Credibility Prices stability Financial stability
URL	https://cepr.org/publications/dp2970
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/532001
推荐引用方式 GB/T 7714	Wouter Den Haan,Christian Haefke,Gary Ramey. DP2970 Shocks and Institutions in a Job Matching Model. 2001.