Zobrazeno 1 - 10
of 6 564
pro vyhledávání: '"jel:E32"'
Autor:
Boyan Jovanovic, Viktor Tsyrennikov
Publikováno v:
American Economic Review. 112:3970-3994
In a model with multiple Pareto-ranked equilibria we add trade in assets that pay based on the realization of a sunspot. Asset trading restricts the equilibrium set in a way that raises welfare by eliminating equilibria with a high likelihood of disa
This paper examines how news coverage of the European Central Bank (ECB) affects consumer inflation expectations in the four largest euro area countries. Utilizing a unique dataset of multilingual European news articles, we measure the impact of ECB-
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=dedup_wf_001::1f39e38b38cb839acb2d7811c9374771
https://hdl.handle.net/11250/3067704
https://hdl.handle.net/11250/3067704
We study the importance of financial markets for (un)employment fluctuations in a model with searching and matching frictions where firms issue debt under limited enforcement. Higher debt allows employers to bargain lower wages which in turn increase
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::4a67eecc4354e5b80cb925fcdfdc95ad
https://hdl.handle.net/11565/4053266
https://hdl.handle.net/11565/4053266
We propose a multicountry quantile factor augmeneted vector autoregression (QFAVAR) to model heterogeneities both across countries and across characteristics of the distributions of macroeconomic time series. The presence of quantile factors allows f
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=dedup_wf_001::33ebffdb98309829390d041c24625960
https://hdl.handle.net/11250/3073380
https://hdl.handle.net/11250/3073380
Financial shocks represent a major driver of fluctuations in tail risk, defined as the 5th percentile of the forecast distributions of output and inflation. Since the variance and the asymmetry of the forecast distributions are largely driven by the
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=dedup_wf_001::cd07c5cd40696a21e9b400abe6f8908a
https://hdl.handle.net/11250/3058242
https://hdl.handle.net/11250/3058242
Publikováno v:
American Economic Journal: Macroeconomics. 14:1-37
We consider a matching model of employment with wages that are flexible for new hires, but sticky within matches. We depart from standard treatments of sticky wages by allowing worker effort to respond to the wage being too high or low, rendering the
Autor:
Enzo Weber, Max Soloschenko
Publikováno v:
Journal of Business Cycle Research. 17:109-128
In the following paper a simultaneous unobserved components model is applied to USAmerican and Canadian output data in order to examine the causal structure of trend and cycle shocks and the way it changes over time. The main focus is placed on the a
The literature has not yet resolved whether the effect of macroeconomic fluctuations on training decisions is positive or negative. On the one hand, the opportunity cost to train is lower during downturns, and thus training should be counter-cyclical
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::2f3acd0c30b9c31735b97b1d1fd7bdb4
https://doi.org/10.32920/ryerson.14637975
https://doi.org/10.32920/ryerson.14637975
Autor:
Ludwig Van Den Hauwe
Publikováno v:
REVISTA PROCESOS DE MERCADO. :133-174
Despite the distinctive character of the Austrian approach to «microfoundations for macroeconomics», the literature on free banking contains a number of arguments which make use of game-theoretic concepts and models such as the well-known Prisoner
Publikováno v:
Journal of Financial Economics. 139:770-799
We build a dynamic capital structure model to study the link between firms' systematic risk exposures and their time-varying debt maturity choices, as well as its implications for the term structure of credit spreads. Compared to short-term debt, lon