Zobrazeno 1 - 10
of 12
pro vyhledávání: '"Garth Baughman"'
Autor:
Garth Baughman, Jean Flemming
Publikováno v:
Review of Economic Dynamics. 48:244-264
We develop a model where persistent trade shocks create demand for a basket- backed stablecoin, such as Mark Carney's "synthetic hegemonic currency" or Facebook's recent proposal for Libra. In numerical simulations, we find four main results. First,
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::1066507f7d8fbca480ff9ad618f075c7
https://doi.org/10.1016/j.red.2022.05.003
https://doi.org/10.1016/j.red.2022.05.003
Publikováno v:
Finance and Economics Discussion Series. :1-36
We study the nonlinearities present in a standard monetary labor search model modified to have two groups of workers facing exogenous differences in the job finding and separation rates. We use our setting to study the racial unemployment gap between
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::96f79a72d0a1c633949561e7de456e85
https://doi.org/10.17016/feds.2023.017
https://doi.org/10.17016/feds.2023.017
Autor:
Pablo D. Azar, Garth Baughman, Francesca Carapella, Jacob Gerszten, Arazi Lubis, JP Perez-Sangimino, David E. Rappoport, Chiara Scotti, Nathan Swem, Alexandros Vardoulakis, Aurite Werman
Publikováno v:
Finance and Economics Discussion Series. :1-31
The value of assets in the digital ecosystem has grown rapidly, amid periods of high volatility. Does the digital financial system create new potential challenges to financial stability? This paper explores this question using the Federal Reserve’s
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::f1a3df21a60cc52ce06bc74f3b13b81b
https://doi.org/10.17016/feds.2022.058
https://doi.org/10.17016/feds.2022.058
Autor:
Francesca Carapella, Garth Baughman
Publikováno v:
Journal of Money, Credit and Banking. 55:655-672
This note presents a simplifed version of the model of voluntary reserve targets (VRT) developed in Baughman and Carapella (forthcoming), with a Walrasian interbank market. First, the model makes transparent the role of target setting in controlling
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::05d8c0733b56f2515588b22c977048dc
https://doi.org/10.1111/jmcb.12927
https://doi.org/10.1111/jmcb.12927
Publikováno v:
Finance and Economics Discussion Series. 2021:1-48
We argue that long-run inflation has nonlinear and state-dependent effects on unemployment, output, and welfare. Using panel data from the OECD, we document three correlations. First, there is a positive long-run relationship between anticipated infl
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::ef21afda2ec86a97cb612a166f6e27fe
https://doi.org/10.17016/feds.2021.040
https://doi.org/10.17016/feds.2021.040
Autor:
Pablo D Azar, Garth Baughman, Francesca Carapella, Jacob Gerszten, Arazi Lubis, Juan Pablo Perez-Sangimino, Chiara Scotti, Nathan Swem, Alexandros Vardoulakis, David Elias Rappoport Wurgaft
Publikováno v:
SSRN Electronic Journal.
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::2f11acaba5e8dcffd9c7836db2b9f7a6
https://doi.org/10.2139/ssrn.4234695
https://doi.org/10.2139/ssrn.4234695
Publikováno v:
European Economic Review, 148
Long-run inflation has nonlinear and state-dependent effects on unemployment, output, and welfare. We show this using a standard monetary search model with two shocks – productivity and monetary – and frictions in both labor and goods markets. In
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::411c4196979d03ca8f19f339155f2a82
https://doi.org/10.2139/ssrn.3863979
https://doi.org/10.2139/ssrn.3863979
Autor:
Garth Baughman, Stanislav Rabinovich
Publikováno v:
Finance and Economics Discussion Series. 2020
Firms often make production decisions before meeting a buyer. We incorporate this often-overlooked fact into an otherwise standard monetary search model and show that it has important implications for the set of equilibria, efficiency, and the cost o
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::4b8cee0c46737a7c745b8f421274540c
https://doi.org/10.17016/feds.2020.019
https://doi.org/10.17016/feds.2020.019
Autor:
Francesca Carapella, Garth Baughman
Publikováno v:
FEDS Notes. 2019
This note describes a framework for implementing monetary policy, dubbed a voluntary reserve targets framework, that could reintroduce significant margins in the federal funds market, reviving the market no matter the aggregate quantity of reserves,
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::7425ed8abe5f29b81e2927b3e09dde73
https://doi.org/10.17016/2380-7172.2405
https://doi.org/10.17016/2380-7172.2405
Autor:
Garth Baughman
Publikováno v:
Finance and Economics Discussion Series. 2016:1-39
Deadlines and fixed end dates are pervasive in matching markets including school choice, the market for new graduates, and even financial markets such as the market for federal funds. Deadlines drive fundamental non-stationarity and complexity in beh
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::0d8d1383e976aaa696b5815c1208bbb4
https://doi.org/10.17016/feds.2016.014
https://doi.org/10.17016/feds.2016.014