Macroeconomic fluctuations, Taylor’s rule, and the dynamics of unemployment and inflation in Puerto Rico
Journal Title: Fórum Empresarial - Year 2018, Vol 23, Issue 2
Abstract
Through the structural decomposition developed by Blanchard and Quah (1989), this paper studies the effects of the impulses associated with the Taylor’s rule of the United States and the supply and demand in Puerto Rico on the dynamics of the unemployment and inflation on the Island. According to the results, in the short run, unemployment responds mostly to the unanticipated shocks of the monetary policy rule in the United States and the supply shocks. Inflation also responds to this rule and the impulses associated with aggregate demand. In the long run, unemployment is declining, and inflation is accelerating mainly in the face of an unanticipated expansion of U.S. monetary policy caused by the establishment of the Taylor rule.
Authors and Affiliations
Carlos A. Rodríguez
Keywords
Related Articles
- EP ID EP737063
- DOI https://doi.org/10.33801/fe.v23i2.16410
- Views 41
- Downloads 1
Administración, ambiente organizacional y satisfacción en el trabajo: Fundamentos filosóficos, conceptuales y sociológicos
Este trabajo es un recorrido filosófico, conceptual y sociológico del concepto de administración y de otros temas relacionados con la psicología industrial, al ambiente organizacional y la satisfacción en el trabajo. Se...
Operations Theory and Marketing Theory: What are We Really Teaching?
As global businesses become more interdisciplinary in nature, colleges and schools of business appear to lag behind holding on to their functional orientation. The result may be having a dramatic negative effect on gradu...
Using the Bernoulli model to analyze the distribution of course withdrawals at UPR-Bayamón
Using a rich panel data comprising 39,337 courses offered in the UPR-Bayamón during forty-one consecutive terms, this paper analyses the distribution of course withdrawals, estimating four parameters per course: the prop...
Cause Related Marketing and its Effects on Employees
Research is lacking concerning the perspectives professional accountants and the administrative staffs working for a global firm strongly involved in social causes have concerning cause-related (CRM). This paper discusse...
Determinantes que impiden la adopción del comercio electrónico por las pymes de Puerto Rico
Esta investigación cualitativa tuvo como objetivo principal identificar factores de la no adopción del comercio electrónico dentro de la dimensión de Negocio- a-Consumidor por parte de las pequeñas y medianas empresas (p...