Nominal shocks, endogenous growth and the business cycle

Article Abstract:

Current wage setting and imperfect competition models of the business cycle are problematic because they take transitory disturbances arising from knowledge and human capital accumulation as pure public goods implying an explosive process for per capita income. A wage setting model, which avoids these problems and shows that such transitory disturbances to output result to permanent upward shifts in the production function, is proposed.

Economics, Research and Development in the Social Sciences and Humanities, Research, Analysis, Economic research, Business cycles

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Monetary models of dollar/yen/euro nominal exchange rates: dead or undead?

Article Abstract:

Monetary models are relevant to foreign exchange rates when inflation differentials are considered. Monetary models are also helpful when evaluating the effects of major macroeconomic policy changes on employment, the current account and the foreign exchange rate. The introduction of political factors in monetary models may provide even better forecasting of foreign exchange rates.

World, Statistical Data Included, Prices and rates, Foreign exchange, Foreign exchange rates, Euro (Currency), Dollar (United States), Yen (Japan)

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Targeting Nominal Income: An Appraisal

Article Abstract:

A simple macroeconomic model is used to gauge the value of a policy of targeting nominal income as a response to productivity and supply shocks. Income targets are preferred to growth rules and monetary targets. Uncertainty about future levels of demand and productivity is assumed.

Management, Income

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