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Heterogeneity in Wage Setting Behavior in a New-Keynesian Model
Eijffinger, Sylvester C W; Grajales, Anderson; Uras, … - C.E.P.R. Discussion Papers - 2015
In this paper we estimate a New-Keynesian DSGE model with heterogeneity in price and wage setting behavior. In a recent …) framework by incorporating heterogeneity in nominal wage setting behavior among households. We solve this DSGE model and … heterogeneity in wage rigidity, such as the persistence in price and the wage inflation, which a standard New Keynesian model with …
Persistent link: https://www.econbiz.de/10011249376
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How do different exporters react to exchange rate changes? Theory, empirics and aggregate implications
Berman, Nicolas; Martin, Philippe; Mayer, Thierry - C.E.P.R. Discussion Papers - 2009
strategy. Hence, pricing to market is both endogenous and heterogenous. This heterogeneity has important consequences for the …
Persistent link: https://www.econbiz.de/10008506840
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Exports Versus FDI Revisited: Does Finance Matter?
Buch, Claudia M.; Kesternich, Iris; Lipponer, Alexander; … - C.E.P.R. Discussion Papers - 2010
The crisis on international financial markets that started in 2007 has shown the potential links between the financial sector and the real economy. Exports and foreign direct investment (FDI) have declined, presumably not only because of a lack of demand, but also because of restricted access of...
Persistent link: https://www.econbiz.de/10008468589
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Financial Constraints and the Margins of FDI
Buch, Claudia M.; Kesternich, Iris; Lipponer, Alexander; … - C.E.P.R. Discussion Papers - 2009
Recent literature on multinational firms has stressed the importance of low productivity as a barrier to the cross-border expansion of firms. But firms may also need external finance to shoulder the costs of entering foreign markets. We develop a model of multinational firms facing real and...
Persistent link: https://www.econbiz.de/10008528519
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Dispersion of Beliefs in the Foreign Exchange Market
Jongen, Ron; Verschoor, Willem F C; Wolff, Christian C; … - C.E.P.R. Discussion Papers - 2008
be significant and positive for different measures of both trader heterogeneity and market volatility. …
Persistent link: https://www.econbiz.de/10005136619
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Technology, Information and the Decentralization of the Firm
Acemoglu, Daron; Aghion, Philippe; Lelarge, Claire; Van … - C.E.P.R. Discussion Papers - 2006
This paper develops a framework to analyze the relationship between the diffusion of new technologies and the decentralization decisions of firms. Centralized control relies on the information of the principal, which we equate with publicly available information. Decentralized control, on the...
Persistent link: https://www.econbiz.de/10005136707
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Household Heterogeneity and the Real Exchange Rate: Still a Puzzle
Kollmann, Robert - C.E.P.R. Discussion Papers - 2009
persistent. The link between the real exchange rage and consumption (heterogeneity) remains a puzzle. …
Persistent link: https://www.econbiz.de/10005012492
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Quality sorting and trade: Firm-level evidence for French wine
Crozet, Matthieu; Head, Keith; Mayer, Thierry - C.E.P.R. Discussion Papers - 2009
Investigations of the effect of quality differences on heterogeneous performance in exporting have been limited by lack of direct measures of quality. We examine exports of French wine, matching the exporting firms to producer ratings from two wine guides. We show that high quality producers...
Persistent link: https://www.econbiz.de/10005012493
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Who Trusts Others?
Alesina, Alberto F; La Ferrara, Eliana - C.E.P.R. Discussion Papers - 2000
Both individual experiences and community characteristics influence how much people trust each other. Using individual level data drawn from US localities we find that the strongest factors associated with low trust are: i) a recent history of traumatic experiences; ii) belonging to a group that...
Persistent link: https://www.econbiz.de/10005498055
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Bank Finance versus Bond Finance: What Explains the Differences Between the US and Europe?
De Fiore, Fiorella; Uhlig, Harald - C.E.P.R. Discussion Papers - 2005
We present a dynamic general equilibrium model with agency costs, where heterogeneous firms choose between two alternative instruments of external finance - corporate bonds and bank loans. We characterize the financing choice of firms and the endogenous financial structure of the economy. The...
Persistent link: https://www.econbiz.de/10005498089