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A Theory of Labor Markets with Inefficient Turnover
Blanco, Andres; Drenik, Andres; Moser, Christian; … - National Bureau of Economic Research - 2024
We develop a theory of labor markets with four features: search frictions, worker productivity shocks, wage rigidity, and two-sided lack of commitment. Inefficient job separations occur in the form of endogenous quits and layoffs that are unilaterally initiated whenever a worker's...
Persistent link: https://www.econbiz.de/10014544688
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Labor Misallocation Across Firms and Regions
Heise, Sebastian; Porzio, Tommaso - National Bureau of Economic Research - 2022
We develop a frictional labor market model with multiple regions and heterogeneous firms to study how frictions impeding labor mobility across space affect the joint allocation of labor across firms and regions. Bringing the model to matched employer-employee data from Germany, we find that...
Persistent link: https://www.econbiz.de/10013334515
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Fiscal rules for the Western Balkans
Kikoni, Edith; Madžarević-Šujster, Sanja; Irwin, … - 2019
Policy toward fiscal rules is an important issue in the countries of the Western Balkans (Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia, and Serbia). According to a rough estimate, the countries with rules (all but North Macedonia) have complied with their debt and...
Persistent link: https://www.econbiz.de/10012114089
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Bhutan Macroeconomic and Public Finance Policy Note : Hydropower Impact and Public Finance Reforms towards Economic Self-Reliance
Boyreau, Genevieve - 2015
Bhutan's hydropower generation potential raises the prospect of tremendous development opportunities for the country: fast increasing export revenue, sustained economic growth, and rapid poverty reduction. Driven by developments in the hydropower sector, the country has grown at an average rate...
Persistent link: https://www.econbiz.de/10012644635
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What about Japan?
Chien, YiLi; Cole, Harold L.; Lustig, Hanno - National Bureau of Economic Research - 2023
Japan's low-rate policies on its government and households. Because of the duration mismatch on the government balance sheet …
Persistent link: https://www.econbiz.de/10014436981
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Female directors, capital structure, and financial distress
García Martín, C. José; Herrero, Begoña - In: Journal of business research : JBR 136 (2021), pp. 592-601
Persistent link: https://www.econbiz.de/10012663233
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U.S. Liquid Government Liabilities and Emerging Market Capital Flows
Lee, Soyean; Engel, Charles - National Bureau of Economic Research - 2024
tightening. We offer new evidence to confirm these findings, and then propose a theory based on the liquidity of U.S. government … liabilities held by the public. We hypothesize that QE, by increasing liquidity, offers greater flexibility for investors that … investments in illiquid loans to emerging markets. The effect of increasing the liquidity of U.S. government liabilities on …
Persistent link: https://www.econbiz.de/10014576601
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Helicopter Drops and Liquidity Traps
Amador, Manuel; Bianchi, Javier - National Bureau of Economic Research - 2023
drops can be a useful stabilization tool during a liquidity trap. With commitment, even with balance sheet constraints …
Persistent link: https://www.econbiz.de/10014247967
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Liquidity Dependence and the Waxing and Waning of Central Bank Balance Sheets
Acharya, Viral V.; Chauhan, Rahul S.; Rajan, Raghuram Govind - National Bureau of Economic Research - 2023
in 2017, there was no commensurate shrinkage of these claims on liquidity. Consequently, the financial sector was left … more sensitive to potential liquidity shocks, with weaker-capitalized banks most exposed. This necessitated Fed liquidity … provision in September 2019 and again in March 2020. Liquidity-risk-exposed banks suffered the most drawdowns and the largest …
Persistent link: https://www.econbiz.de/10014247971
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The Impacts of Crises on the Trilemma Configurations
Aizenman, Joshua; Chinn, Menzie David; Itō, Hiro - National Bureau of Economic Research - 2022
important policy instrument, insuring against liquidity shortages. We find that countries' policy mixes are diverse, and have …
Persistent link: https://www.econbiz.de/10013362059