Arbeitspapier
Trend growth, unemployment and optimal monetary policy
We analyze the implications of changes in the trend growth rate for optimal monetary policy in the presence of search and matching unemployment. We show that trend growth in itself does not generate a trade-off for the monetary authority, but that it interacts importantly with the inefficiencies stemming from the labor market. Higher trend growth exacerbates the inefficiencies of the labor market and therefore calls for larger deviations from price stability.
- Language
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Englisch
- Bibliographic citation
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Series: Kiel Working Paper ; No. 2003
- Classification
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Wirtschaft
General Aggregative Models: Keynes; Keynesian; Post-Keynesian
Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
Monetary Policy
- Subject
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trend growth
trend inflation
unemployment
- Event
-
Geistige Schöpfung
- (who)
-
Lechthaler, Wolfgang
Tesfaselassie, Mewael
- Event
-
Veröffentlichung
- (who)
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Kiel Institute for the World Economy (IfW)
- (where)
-
Kiel
- (when)
-
2015
- Handle
- Last update
-
10.03.2025, 11:43 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Lechthaler, Wolfgang
- Tesfaselassie, Mewael
- Kiel Institute for the World Economy (IfW)
Time of origin
- 2015
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