Similar Search Results

Speculative attacks and financial architecture: experimental analysis of coordination games with public and private information

Heinemann, Frank; Nagel, Rosemarie; Ockenfels, Peter - London School of Economics (LSE) - 2002

Speculative Attacks can be modeled as a coordination game with multiple equilibria if the state of the economy is common knowledge. With private information there is a unique equilibrium. This raises the question whether public information may be destabilizing by allowing for self-fulfilling...

Persistent link: https://www.econbiz.de/10010745943

Has the growth of real GDP in the UK been overstated because of mis-measurement of banking output?

Oulton, Nicholas - London School of Economics (LSE) - 2013

If official figures overstated the growth of banking output in the UK in the recent boom, does this mean that GDP … growth was overstated too? The answer is no. It is truer to say that if banking output was overstated then the output of some … most of the problematic part of banking output drops out since it constitutes intermediate consumption not final …

Persistent link: https://www.econbiz.de/10010745950

Labor market reforms, job instability, and the flexibility of the employment relationship

Matouschek, Niko; Ramezzana, Paolo; Robert-Nicoud, … - London School of Economics (LSE) - 2008

We endogenize separation in a search model of the labor market and allow for bargaining over the continuation of …

Persistent link: https://www.econbiz.de/10010746228

Incentives in competitive search equilibrium

Moen, Espen R.; Rosen, Asa - London School of Economics (LSE) - 2007

This paper analyses the interaction between internal agency problems within firms and external search frictions when … of the wage contracts is positively related to high productivity, low unemployment benefits and high search frictions. …

Persistent link: https://www.econbiz.de/10010745548

Regional influences on U.S. monetary policy: some implications for Europe

Meade, Ellen E.; Sheets, D. Nathan - London School of Economics (LSE) - 2002

This paper looks at the monetary policy decisions of the U.S. Federal Reserve and asks whether those decisions have been influenced solely by national concerns, or whether regional factors have played a role. All of the Federal Reserve''s policymakers have some regional identity, i.e., either...

Persistent link: https://www.econbiz.de/10010884746

Insiders versus outsiders in monetary policymaking

Besley, Timothy; Meads, Neil; Surico, Paolo - London School of Economics (LSE) - 2008

Persistent link: https://www.econbiz.de/10010744911

Overcoming the zero bound on nominal interest rates with negative interest on currency : Gesell's solution

Buiter, Willem H. - London School of Economics (LSE) - 2003

An economy is in a liquidity trap when monetary policy cannot influence either real or nominal variables of interest. A necessary condition for this is that the short nominal interest rate is constrained by its lower bound, typically zero. The paper considers two small analytical models, one...

Persistent link: https://www.econbiz.de/10010745321

Central banks and financial crises

Buiter, Willem H. - London School of Economics (LSE) - 2008

The paper draws lessons from the experience of the past year for the conduct of central banks in the pursuit of macroeconomic and financial stability. Macroeconomic stability is defined as either price stability or as price stability and sustainable output or employment growth. Financial...

Persistent link: https://www.econbiz.de/10010745389

Monetary policy and welfare in a small open economy

De Paoli, Bianca - London School of Economics (LSE) - 2004

This paper characterizes welfare in a small open economy and derives the corresponding optimal monetary policy rule. It shows that the utility-based loss function for a small open economy is a quadratic expression in domestic inflation, output gap and real exchange rate. In contrast to previous...

Persistent link: https://www.econbiz.de/10010745516

The importance of the wording of the ECB

Rosa, Carlo; Verga, Giovanni - London School of Economics (LSE) - 2005

This paper analyses the ECB communication, focusing in particular on its transparency dimension. We posit that if the ECB is transparent about its future policy decisions, then we should be able to forecast fairly well its future interest rate setting behaviour. We find that the predicting...

Persistent link: https://www.econbiz.de/10010745720

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