Keynesian and monetarist views on the German unemployment problem: theory and evidence
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| Main Author: | |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Kiel
Inst. of World Economics
2002
|
| Series: | Kieler Arbeitspapiere
No. 1096 |
| Online Access: | Inhaltsverzeichnis |
| Item Description: | Literaturverz. S. 136 - 144 |
| Physical Description: | 144 S. graph. Darst. 21 cm |
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| adam_text | Contents
I. Introduction 1
II. Keynesian and monetarist perspectives on unemployment and
inflation 3
2.1 The Keynesian perspective 3
2.1.1 The departure from classical economics 3
2.1.2 The Phillips curve 4
2.1.3 The case for aggregate demand management policies... 7
2.1.4 The Keynesian policy assignment 10
2.2 The monetarist challenge 12
2.2.1 The expectations-augmented Phillips curve 12
2.2.2 The natural rate of unemployment 16
2.2.3 The monetary transmission mechanism 18
2.2.4 The case against aggregate demand management policies 21
2.2.5 The monetarist policy assignment 25
2.3 The Keynesian response to the monetarist revolution: The
NAIRU 28
2.3.1 Augmenting Keynesian inflation models with a
vertical Phillips curve 30
2.3.2 The triangle model of inflation 33
2.3.3 Estimating a time-varying NAIRU for Germany and
the USA 37
2.3.4 The NAIRU in practice 43
III. The long-run Phillips curve and the source of business cycle
fluctuations in Germany 45
3.1 The unemployment-inflation relationship in West Germany 46
3.2 Estimating Keynesian and monetarist Phillips curves for
Germany 50
3.2.1 Time Series Properties 50
3.2.2 Testing the superneutrality proposition 52
3.2.3 The Keynesian Phillips curve 67
3.2.4 The monetarist Phillips curve 77
3.2.5 The source of business cycle fluctuations 86
IV. The debate on the causes of unemployment in Germany 106
4.1 The wage gap — a monetarist view 106
4.2 The controversy on the causes of unemployment 112
4.3 The controversy on the effectiveness of wage moderation 115
4.4 The controversy on the policy assignment 127
V. Conclusion 131
Appendix 134
References 136
|
| adam_txt |
Contents
I. Introduction 1
II. Keynesian and monetarist perspectives on unemployment and
inflation 3
2.1 The Keynesian perspective 3
2.1.1 The departure from classical economics 3
2.1.2 The Phillips curve 4
2.1.3 The case for aggregate demand management policies. 7
2.1.4 The Keynesian policy assignment 10
2.2 The monetarist challenge 12
2.2.1 The expectations-augmented Phillips curve 12
2.2.2 The natural rate of unemployment 16
2.2.3 The monetary transmission mechanism 18
2.2.4 The case against aggregate demand management policies 21
2.2.5 The monetarist policy assignment 25
2.3 The Keynesian response to the monetarist revolution: The
NAIRU 28
2.3.1 Augmenting Keynesian inflation models with a
vertical Phillips curve 30
2.3.2 The triangle model of inflation 33
2.3.3 Estimating a time-varying NAIRU for Germany and
the USA 37
2.3.4 The NAIRU in practice 43
III. The long-run Phillips curve and the source of business cycle
fluctuations in Germany 45
3.1 The unemployment-inflation relationship in West Germany 46
3.2 Estimating Keynesian and monetarist Phillips curves for
Germany 50
3.2.1 Time Series Properties 50
3.2.2 Testing the superneutrality proposition 52
3.2.3 The Keynesian Phillips curve 67
3.2.4 The monetarist Phillips curve 77
3.2.5 The source of business cycle fluctuations 86
IV. The debate on the causes of unemployment in Germany 106
4.1 The wage gap — a monetarist view 106
4.2 The controversy on the causes of unemployment 112
4.3 The controversy on the effectiveness of wage moderation 115
4.4 The controversy on the policy assignment 127
V. Conclusion 131
Appendix 134
References 136 |
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| spelling | Gottschalk, Jan Verfasser aut Keynesian and monetarist views on the German unemployment problem theory and evidence by Jan Gottschalk. Kiel Institute of World Economics Kiel Inst. of World Economics 2002 144 S. graph. Darst. 21 cm txt rdacontent n rdamedia nc rdacarrier Kieler Arbeitspapiere No. 1096 Literaturverz. S. 136 - 144 Kieler Arbeitspapiere No. 1096 (DE-604)BV000000922 1096 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=016872091&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Gottschalk, Jan Keynesian and monetarist views on the German unemployment problem theory and evidence Kieler Arbeitspapiere |
| title | Keynesian and monetarist views on the German unemployment problem theory and evidence |
| title_auth | Keynesian and monetarist views on the German unemployment problem theory and evidence |
| title_exact_search | Keynesian and monetarist views on the German unemployment problem theory and evidence |
| title_exact_search_txtP | Keynesian and monetarist views on the German unemployment problem theory and evidence |
| title_full | Keynesian and monetarist views on the German unemployment problem theory and evidence by Jan Gottschalk. Kiel Institute of World Economics |
| title_fullStr | Keynesian and monetarist views on the German unemployment problem theory and evidence by Jan Gottschalk. Kiel Institute of World Economics |
| title_full_unstemmed | Keynesian and monetarist views on the German unemployment problem theory and evidence by Jan Gottschalk. Kiel Institute of World Economics |
| title_short | Keynesian and monetarist views on the German unemployment problem |
| title_sort | keynesian and monetarist views on the german unemployment problem theory and evidence |
| title_sub | theory and evidence |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=016872091&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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