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Yashiv, Eran - C.E.P.R. Discussion Papers - 2006

This paper surveys the use of search and matching models in macroeconomics. It outlines the standard model, discusses its extensions, presents alternative formulations, considers the empirical evidence, and studies applications to macroeconomic questions such as business cycles, growth, and...

Persistent link: https://www.econbiz.de/10005792066

The Cost of Banking Regulation

Guiso, Luigi; Sapienza, Paola; Zingales, Luigi - C.E.P.R. Discussion Papers - 2006

We use exogenous variation in the degree of restrictions to bank competition across Italian provinces to study both the effects of bank regulation and the impact of deregulation. We find that where entry was more restricted the cost of credit was higher and - contrary to expectations- access to...

Persistent link: https://www.econbiz.de/10005792358

Macroeconomic Equilibrium and Reform in a Transitional Economy

Dixon, Huw David - C.E.P.R. Discussion Papers - 1993

We build a general equilibrium macroeconomic model of a transitional economy to reflect five stylized facts. Among these are that central planning has left a legacy of highly concentrated industry and a residue of price controls and rationing. An `almost Classical' dichotomy obtains in the...

Persistent link: https://www.econbiz.de/10005067476

Financial Shocks, Unemployment, and Public Policy

Driffill, John - C.E.P.R. Discussion Papers - 2013

This paper is based on presentation given at the June 2011 Conference of the Centre for Growth and Business Cycle Research at the University of Manchester. It reviews key features of the 2007-08 financial crisis, the subsequent 'great recession' and the European public debt problems; in the...

Persistent link: https://www.econbiz.de/10011083899

Imperfect Competition and Macroeconomics: A Survey

Dixon, Huw David; Rankin, Neil - C.E.P.R. Discussion Papers - 1992

This survey outlines the general lessons of the recent literature on imperfectly competitive macroeconomies for the theory of monetary and fiscal policy. A general framework is presented which encompasses most of the existing literature. Although money is of itself neutral in these models, the...

Persistent link: https://www.econbiz.de/10005661642

Two Monetary Tools: Interest Rates and Haircuts

Ashcraft, Adam; Garleanu, Nicolae Bogdan; Pedersen, … - C.E.P.R. Discussion Papers - 2010

We study a production economy with multiple sectors financed by issuing securities to agents who face capital constraints. Binding capital constraints propagate business cycles, and a reduction of the interest rate can increase the required return of high-haircut assets since it can increase the...

Persistent link: https://www.econbiz.de/10008642875

The Competitiveness of Hungarian Industry

Hare, Paul G; Hughes, Gordon; Michael, Thomas; Revesz, Tamas - C.E.P.R. Discussion Papers - 1992

Using an RAS update to 1990 of an 86-sector input-output table for Hungary in 1986, and corresponding data on world … sectors are obtained under a variety of conditions. Hungary's trade relationships and constraints on trade make it uncertain … Hungary and the EC on Hungary's competitiveness, finding that some sectors will be strengthened, e.g. forestry, agriculture …

Persistent link: https://www.econbiz.de/10005662220

Factors and Effects of Trade Reorientation in Hungary

Halpern, László - C.E.P.R. Discussion Papers - 1993

The collapse of the CMEA completed the Hungarian trade reorientation during the second half of the 1980s. Panel model estimations of trade reorientation reveal that cost efficiency, export subsidy and foreign demand played important and varying roles between 1981 and 1990. During the last two...

Persistent link: https://www.econbiz.de/10005666895

After, Before and During: Returns to Education in Hungary (1986-1998)

Campos, Nauro F; Jolliffe, Dean - C.E.P.R. Discussion Papers - 2004

How valuable are the skills acquired under socialism in a market economy? This Paper throws light on this question using unique data covering the years before and during transition (1986-98) for about 3 million Hungarian wage earners. We find that returns to a year of schooling increased by 75%...

Persistent link: https://www.econbiz.de/10005667110

Job Search Monitoring and Unemployment Duration: Evidence from a Randomised Control Trial

Micklewright, John; Nagy, Gyula - C.E.P.R. Discussion Papers - 2008

benefit systems. We investigate this issue with a field experiment in Hungary involving random assignment of benefit claimants …

Persistent link: https://www.econbiz.de/10005789102