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picture1_Endogenous Growth Theory Pdf 128679 | Ecwp2635~a410ben


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File: Endogenous Growth Theory Pdf 128679 | Ecwp2635~a410ben
Working Paper Series Mirko Abbritti, Agostino Consolo, Endogenous growth, downward Sebastian Weber wage rigidity and optimal inflation No 2635 / December 2021 Disclaimer: This paper should not be reported as ...

icon picture PDF Filetype PDF | Posted on 14 Oct 2022 | 2 years ago

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...Working paper series mirko abbritti agostino consolo endogenous growth downward sebastian weber wage rigidity and optimal inflation no december disclaimer this should not be reported as representing the views of european central bank ecb expressed are those authors do necessarily reflect abstract standard new keynesian nk models feature an ination target well below two percent limited welfare losses from business cycle uctuations long term monetary neutrality we develop a framework with labour mar ket frictions productivity dwr which challenges these results model features non vertical run phillips curve between unemployment trade o price distortions output hysteresis that change maximizing level for plausible set parameters tar get is in excess value commonly used across banks deviations carry costs multiple times higher than traditional main reason generate asymmetric eects on unemploy ment targeting or taylor rule responding to rate can handle better our deliver signicant gains robu...
								

							

						
	
												
				
					
					
					
			
					
				
				
		
	

	
		





	

	
				

						

						
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Posted on: 14 Oct 2022 | 2 years ago
										
										
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