Long-run Inflation-Unemployment Dynamics: The Spanish Phillips Curve and Economic Policy

This paper takes a new look at the long-run dynamics of inflation and unemployment in response to permanent changes in the growth rate of the money supply. We examine the Phillips curve from the perspective of what we call "frictional growth", i.e. the interaction between money growth and nominal frictions. After presenting theoretical models of this phenomenon, we construct an empirical model of the Spanish economy and, in this context, we evaluate the long-run inflation-unemployment trade for Spain and examine how recent policy changes have afected it.

Inflation dynamics and the New Keynesian Phillips curve in EU-4

The paper seeks to shed light on inflation dynamics of four new EU member states: the Czech Republic, Hungary, Poland and Slovakia. To this end, the New Keynesian Phillips curve augmented for open economies is estimated and additional statistical tests applied. We find the following. (1) The claim of New Keynesians that the real marginal cost is the main inflation-forcing variable is fragile. (2) Inflation seems to be driven by external factors. (3) Although inflation holds a forward-looking component, the backward-looking component is substantial. An intuitive explanation for higher inflation persistence may be rather adaptive than rational price setting of local firms.

TFC area ASP.NET con WCF: Gestión academia NET-Academy

El TFC consiste en el desarrollo de una aplicación capaz de llevar la gestion de una academia de enseñanza, su nombre NET-Academy, para su realización se han empleado las tecnologías ASP.NET, WCF(Windows Communications Foundation) y SQL Server 2010 de Microsoft y como entorno de desarrollo Visual Studio.

Free Technology Academy : a Joint Venture of Free Software and OER

The decision to publish educational materials openly and under free licenses brings up the challenge of doing it in a sustainable way. Some lessons can be learned from the business models for production, maintenance and distribution of Free and Open Source Software. The Free Technology Academy (FTA) has taken on these challenges and has implemented some of these models. We briefly review the FTA educational programme, methodologies and organisation, and see to which extent these models are proving successful in the case of the FTA.

The return of the wage Phillips curve

The standard New Keynesian model with staggered wage settingis shown to imply a simple dynamic relation between wage inflationand unemployment. Under some assumptions, that relation takes aform similar to that found in empirical wage equations-starting fromPhillips' (1958) original work-and may thus be viewed as providingsome theoretical foundations to the latter. The structural wage equation derived here is shown to account reasonably well for the comovement of wage inflation and the unemployment rate in the U.S. economy, even under the strong assumption of a constant natural rate ofunemployment.

Comment to "Weak instruments robust tests in GMM and the New Keynesian Phillips curve" by Frank Kleibergen and Sophocles Mavroeidis

I discuss the identifiability of a structural New Keynesian Phillips curve when it is embedded in a small scale dynamic stochastic general equilibrium model. Identification problems emerge because not all the structural parameters are recoverable from the semi-structural ones and because the objective functions I consider are poorly behaved. The solution and the moment mappings are responsible for the problems.

Coming from outside the Academy. Values of 2.0 culture in higher education

This article reflects on how some values, interests, and particularities of 2.0 culture enter on higher and postgraduate education institutions. Through theidentification of the features of 2.0, this document visualizes some of the resistances, obstacles, possibilities, and opportunities detected in these institutions, many of them focusing on the core of the higher education and postgraduate institutions (i.e. strategic vision, methodology, role of teachers and students, relation between formal and informal learning, contents and assessment). Responsibility in the training and updating of current and future professionals places these institutions under the discussion and decision-making process related to the role that 2.0 tools should play. We wonder if it implies a crossroad which affects the whole set of attitudes and values on the role of training institutions in the context of the construction of socialized knowledge.