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cycle model. In particular, we analyze the effect of a monetary policy shock and investigate how labor market frictions … persistent movements of aggregate inflation. Moreover, the impact of a monetary policy shock on unemployment and inflation …
Persistent link: https://www.econbiz.de/10003227218
Macroeconomists have long been concerned with the causal effects of monetary policy. When the identification of causal effects is based on a selection-on-observables assumption, non-causality amounts to the conditional independence of outcomes and policy changes. This paper develops a...
Persistent link: https://www.econbiz.de/10003739948
This paper explores the influence of wage and price staggering on monetary persistence. We show that, for plausible parameter values, wage and price staggering are complementary in generating monetary persistence. We do so by proposing the new measure of "quantitative inertia," after discussing...
Persistent link: https://www.econbiz.de/10003557342
This theoretical contribution shows a simple way in which the quantity equation can be derived as a long-term equilibrium solution for the case of a closed economy and an open economy, respectively. It is shown first for the case of a closed economy which parameters stand behind "velocity" and...
Persistent link: https://www.econbiz.de/10010398774
shock leads to larger wage increases for high-skilled workers than for low-skilled workers, due to the smaller matching …
Persistent link: https://www.econbiz.de/10011853562
We estimate impacts of male job loss, female job loss, and male unemployment benefits on domestic violence in Brazil … benefits expire. Our findings are consistent with job loss increasing domestic violence on account of a negative income shock … and an increase in exposure of victims to perpetrators, with unemployment benefits partially offsetting the income shock …
Persistent link: https://www.econbiz.de/10012589233
trade result in an asymmetric reaction to an otherwise symmetric shock. In this context, we show that oil price shocks can …
Persistent link: https://www.econbiz.de/10011785688
followed by a fall, a fully anticipated non-response (McKay-Wolf, 2023) leaves the oil shock's aggregate and distributional …
Persistent link: https://www.econbiz.de/10015411622
Bitcoin in particular and so-called cryptocurrencies in general have shaken up the financial world and seem to be claiming an increasing size of the market share. These new virtual assets present investors with significant opportunities, but also with significant risks. This paper analyzes the...
Persistent link: https://www.econbiz.de/10012517614
Labor market frictions are not the only possible factor responsible for high unemployment. Credit market imperfections, driven by microeconomic frictions and impacted upon by macroeconomic factors such as monetary policy, could also be to blame. This paper shows that labor and credit market...
Persistent link: https://www.econbiz.de/10011336864