Showing 1 - 10 of 193
This paper conducts counterfactual historical analysis of several monetary policy rules by contrasting actual settings of instrument variables with values that would have been specified by the rules in response to prevailing conditions. Of particular interest is whether major policy mistakes,...
Persistent link: https://www.econbiz.de/10012471025
Over the last twenty years the wage-education relationships in the US and Germany have evolved very differently, while the education composition of employment has evolved in a surprisingly parallel fashion. In this paper, we propose and test an explanation to these conflicting patterns. The...
Persistent link: https://www.econbiz.de/10012471064
This paper examines monetary policy in Rudebusch and Svensson's (1999) two equation macroeconomic model when the policymaker recognizes that the model is an approximation and is uncertain about the quality of that approximation. It is argued that the minimax approach of robust control provides a...
Persistent link: https://www.econbiz.de/10012471286
and finalists of the RIT/USA Today Quality Cup. The authors interviewed 75 employees (5 per firm) including 14 executives …
Persistent link: https://www.econbiz.de/10012471549
Using confidential regulatory firm-bank-loan level data from the U.S., we document four new facts about the credit market. First, private SMEs typically utilize all available bank credit which comprises their entire balance sheet debt, compared to large listed firms who can switch between...
Persistent link: https://www.econbiz.de/10012510563
This study uses data from Academic Analytics to examine gender differences in promotion to associate professor in economics. We found that women in economics were 15% less likely to be promoted to associate professor after controlling for cumulative publications, citations, grants and grant...
Persistent link: https://www.econbiz.de/10012510622
We review the literature on the empirical characteristics of the global financial cycle and associated stylized facts on international capital flows, asset prices, risk aversion and liquidity in the financial system. We analyse the co-movements of global factors in asset prices and capital flows...
Persistent link: https://www.econbiz.de/10012660005
Two hallmarks of U.S. monetary policy since the 1981-1982 recession have been declining interest rates and moderation in inflation. Coincident with these trends has been a surge in U.S. wealth inequality, with the Gini coefficient up by 0.070 between 1983 and 2019. This paper analyzes the...
Persistent link: https://www.econbiz.de/10012660070
This paper demonstrates how a central bank might operationalize an expanded role inclusive of managing risks from environmental pollution. The analysis introduces the green interest rate (rg) which depends on temporal changes in the pollution intensity of output. This policy instrument...
Persistent link: https://www.econbiz.de/10012585375
We provide a comprehensive overview of codetermination, i.e., worker representation in firms' governance and management. We cover the institution's history, implementation, and the best available evidence on its economic impacts. We argue that existing quasiexperimental estimates suggest that...
Persistent link: https://www.econbiz.de/10012585405