Schäfer, Benjamin: Macroeconomic dynamics of monetary unions : a theoretical and empirical approach. 2019
Inhalt
- Contents
- Introduction
- Outline of the Thesis
- Monetary Union as a Set of Interacting Economies
- Three Central Aspects of the Analysis
- Operationalisation Using the New Phillips Curve
- Literature
- The Crisis, Unconventional Monetary Policy, and European Inflation Dynamics
- A Two-Country Model of a Monetary Union With Direct Spillover Channels
- Estimated Inflation Dynamics in Monetary Unions
- Conclusion
- Bibliography
- Data Sources
- Data Charts
- Inflation Measures
- Marginal Costs Deviations
- Oil Prices
- USD/EUR Nominal Exchange Rate
- Interest Rate Spreads
- EONIA
- Output Gaps
- Wage Inflation
- Inflation Expectations
- Inflation Expectations (US)
- Main Components of European Consumer Price Inflation
- Error Propagation
- Derivation of Equations
- Equivalence of Real Marginal Costs and the Labour Income Share
- Average Duration of Prices Under Calvo-Pricing (2.2)
- Consumption Euler Equation (3.4)
- Consumer Price Inflation and the Consumer Price Inflation Rate (3.10)
- Goods Markets Clearing
- Deviation of Real Marginal Costs From Their Steady State Value (3.7)
- Natural Output (3.8)
- Abbreviations
- Acknowledgements and Thanks