Monetary policy and unemployment : the US, Euro-area and Japan / / edited by Willi Semmler.

• Superior document: Routledge international studies in money and banking ; 31
• Author: New School University. Economics Department.; Semmler, Willi.
• TeilnehmendeR: Semmler, Willi.; New School University. Economics Department.; New School University. Center for Economic Policy Analysis.
• Year of Publication: 2005
• Language: English
• Series: Routledge international studies in money and banking ; 31.
• Physical Description: 1 online resource (288 p.)
• Notes: "Papers presented at a conference hosted by the Economics Dept. and the Centre for Economic Policy Analysis of the New School University held from Nov. 22-23, 2002."_T.p verso.

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 was to discuss what potential role monetary policy has on economic activity and unemployment reduction in three key currency zones - the United States, European Union and Japan.

Table of Contents

Cover; Monetary Policy and Unemployment: The US, Euro-area, and Japan; Copyright; Contents; Contributors; 1 Introduction; Part I Overview: Unemployment and monetary policy in the three currency areas; 2 Monetary policy and unemployment; 3 Some notes on monetary policy and unemployment; 4 The long stagnation of the Japanese economy during the 1990s and macroeconomic policies; Part II Labor market institutions and unemployment; 5 The role of shocks and institutions in the rise of European unemployment: The aggregate evidence

6 Labor market institutions and unemployment in Europe: A comment on Blanchard and Wolfers7 Labor market dynamics in the Euro-area: A model-based sensitivity analysis; Part III Structuralist causes of unemployment and monetary policy; 8 The structuralist perspective on real exchange rate, share price level, and employment path: What room is left for money?; 9 The long stagnation and monetary policy in Japan: A theoretical explanation; 10 Monetary policy, the labor market, and pegged exchange rates: A study of the German economy; Part IV Monetary policy rules, fiscal policy, and unemployment

11 The constitutional position of the Central Bank12 Activist stabilization policy and inflation: The Taylor rule in the 1970s; 13 The Fed's monetary policy rule: Past, present, and future; 14 What is the impact of tax and welfare reforms on fiscal stabilizers?: A simple model and an application to EMU; Index