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Recall and unemployment
Fujita, Shigeru; Moscarini, Giuseppe - Federal Reserve Bank of Philadelphia - 2013
market outcomes than job switchers. Over 40% of all workers separating into unemployment regain employment at their previous … temporary layoff. Recalls are associated with much shorter unemployment duration and better wage changes. Negative duration … dependence of unemployment nearly disappears once recalls are excluded. We also find that the probability of finding a new job is …
Persistent link: https://www.econbiz.de/10010732483
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Economic outlook and challenges for monetary policy: a speech at the Philadelphia Chapter of the Risk Management Association, Philadelphia, PA, January 11, 2011
Plosser, Charles I. - Federal Reserve Bank of Philadelphia - 2011
Presented by Charles I. Plosser, President and Chief Executive Officer, Federal Reserve Bank of Philadelphia> The Philadelphia Chapter of the Risk Management Association, Philadelphia, PA, January 11, 2011
Persistent link: https://www.econbiz.de/10010727091
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Economic prospects and monetary policy for the new year; 33rd Annual Economic Seminar, January 11, 2012, Rochester, New York
Plosser, Charles I. - Federal Reserve Bank of Philadelphia - 2012
Economic Prospects and Monetary Policy for the New Year> 33rd Annual Economic Seminar, January 11, 2012, Rochester, New York
Persistent link: https://www.econbiz.de/10010727157
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Monetary policy with heterogeneous agents
Gornemann, Nils; Kuester, Keith; Nakajima, Makoto - Federal Reserve Bank of Philadelphia - 2012
We build a New Keynesian model in which heterogeneous workers differ with regard to their employment status due to search and matching frictions in the labor market, their potential labor income, and their amount of savings. We use this laboratory to quantitatively assess who stands to win or...
Persistent link: https://www.econbiz.de/10010570546
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Fiscal volatility shocks and economic activity
Fernandez-Villaverde, Jesus; Guerron-Quintana, Pablo; … - Federal Reserve Bank of Philadelphia - 2011
The authors study the effects of changes in uncertainty about future fiscal policy on aggregate economic activity. Fiscal deficits and public debt have risen sharply in the wake of the financial crisis. While these developments make fiscal consolidation inevitable, there is considerable...
Persistent link: https://www.econbiz.de/10009216227
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Soverign risk and the effects of fiscal retrenchment in deep recessions
Corsetti, Giancarlo; Kuester, Keith; Meier, Andre; … - Federal Reserve Bank of Philadelphia - 2011
The authors analyze the effects of government spending cuts on economic activity in an environment of severe fiscal strain, as reflected by a sizeable risk premium on government debt. Specifically, they consider a "sovereign risk channel," through which sovereign default risk spills over to the...
Persistent link: https://www.econbiz.de/10009320690
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Restoring central banks after the crisis: Re-examining central bank orthodoxy for unorthodox times: Inaugural meeting of the Global Society of Fellows of the Global Interdependence...
Plosser, Charles I. - Federal Reserve Bank of Philadelphia - 2012
Presented at the Inaugural meeting of the Global Society of Fellows of the Global Interdependence Center, Banque de France, Paris, France, March 26, 2012
Persistent link: https://www.econbiz.de/10010727088
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Fiscal policy and monetary policy: restoring the boundaries - U.S. Monetary Policy Forum, The Initiative on Global Markets, University of Chicago Booth School of Business, New York...
Plosser, Charles I. - Federal Reserve Bank of Philadelphia - 2012
Presented at the U.S. Monetary Policy Forum, The Initiative on Global Markets University of Chicago Booth School of Business, New York, New York, February 24, 2012
Persistent link: https://www.econbiz.de/10010727106
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A perspective on the U.S. economic outlook and monetary policy
Plosser, Charles I. - Federal Reserve Bank of Philadelphia - 2013
Presented by Charles I. Plosser, President and Chief Executive Officer, Federal Reserve Bank of Philadelphia, SNS (Center for Business and Policy Studies) and SIFR (The Institute for Financial Research), Stockholm, Sweden
Persistent link: https://www.econbiz.de/10010727158
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Macroeconomic dynamics near the ZLB: a tale of two equilibria
Aruoba, S. Boragan; Schorfheide, Frank - Federal Reserve Bank of Philadelphia - 2013
This paper studies the dynamics of a New Keynesian dynamic stochastic general equilibrium (DSGE) model near the zero lower bound (ZLB) on nominal interest rates. In addition to the standard targeted-inflation equilibrium, we consider a deflation equilibrium as well as a Markov sunspot...
Persistent link: https://www.econbiz.de/10010681653