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Publications
Books
Semmler, Willi
(2005) Monetary Policy and Unemployment, London: Routledge
This book pulls
together papers presented at a conference in honour of the 1981
Nobel Prize Winner for Economic Science, the late James Tobin. Among
the contributors are Olivier Blanchard, Edmund Phelps, Charles Goodhart
and Marco Buti.
One of the main
aims of the conference, and the subsequent book, has been to discuss
the potential role monetary policy has on economic activity and
unemployment reduction in three key currency zones - the United
States, European Union and Japan.
Contents:
Part
One: Overview:
Unemployment and Monetary Policy in the Three Currency Areas |
| 1. |
Monetary
Policy and Unemployment
Olivier Blanchard (MIT)
|
| 2. |
Some
Notes on Monetary Policy and Unemployment
Edmund Phelps (Columbia University)
|
| 3. |
Monetary
Policy and Unemployment in Japan
Hiroshi Yoshikawa, (University of Tokyo)
|
Part
Two: Labor Market Institutions and Unemployment
|
| 4. |
The
Role of Shocks and Institutions in the Rise of European Unemployment:
The Aggregate Evidence
Olivier Blanchard (MIT) and Justin Wolfers (Stanford
University)
|
| 5. |
Labor
Market Institutions and European Unemployment: A Comment on
Blanchard and Wolfers
Dawid Howell (New School University)
|
| 6. |
The
Labour Market Dynamics in the Euro Area: A Model-Based Sensitivity
Analysis
Alistair Dieppe (European Central Bank), Jerome Henry
(European Central Bank, Frankfurt) and Peter McAdam (European
Central Bank)
|
Part
Three: Structuralist Causes of Unemployment and Monetary Policy
|
| 7. |
The
Structuralist Perspective on Real Exchange Rates, Share Price
Level and Employment Paths: What Room is Left for Money?
Edmund Phelps (Columbia University), Hian Teck Hoon
(Singapore Management University) and Gylfi Zoega (Birkbeck
College)
|
| 8. |
The
Long Stagnation and Monetary Policy in Japan: A Theoretical
Explanation
H. Yoshikawa (University of Tokyo), Masanao Aoki
(UCLA), and Toshihiro Shimizu (Kanagawa University)
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| 9. |
Monetary
Policy, the Labor Market and Pegged Exchange Rates: A Study
of the German Economy
Peter Flaschel (Bielefeld University), Gang Gong
(Tsinghua University and CEM, Bielefeld University) and
Willi Semmler (New School University and CEM, Bielefeld)
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Part
Four: Monetary Policy Rules, Fiscal Policy and Unemployment
|
| 10. |
The
Constitutional Position of the Central Bank
Charles Goodhart (Financial Market Group, London School
of Economics)
|
| 11. |
Activist
Stabilization Policy and Inflation: The Taylor Rule in Action
Athanasios Orphanides (Federal Reserve Board, Washington,
DC)
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| 12. |
The
Fed`s Monetary Policy Rule: Past, Present, and Future
Antonio Moreno (Columbia University)
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| 13. |
Tax
Reform: Stabilization and Incentive Effects
Marco Buti (European Commission, Brussels), and Paul
Van den Noord (OECD) |
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