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Sequential Bargaining in a New-Keynesian Model with Frictional Unemployment and Wage Negotiation

De Walque, Gregory - 2009

We consider a model with frictional unemployment and staggered wage bargaining where hours worked are negotiated every period. The workers' bargaining power in the hours negotiation affects both unemployment volatility and inflation persistence. The closer to zero this parameter, (i) the more...

Persistent link: https://www.econbiz.de/10012765186

Fiscal stimulus and labor market dynamics in Japan

Kato, Ryuta Ray; Miyamoto, Hiroaki - In: Journal of the Japanese and international economies : … 30 (2013), pp. 33-58

Persistent link: https://www.econbiz.de/10010253626

Do Financial Reforms Help Stabilize Inequality?

Christopulos, Dēmētrēs K. - 2015

We explore the relationship between financial reforms and income inequality using a panel of 29 countries over 1975-2005. We extend panel unit root tests to allow for the presence of some financial-reform covariates and further suggest an associated but novel, semi-parametric approach. Results...

Persistent link: https://www.econbiz.de/10013024727

Fiscal policy switching in Japan, the US, and the UK

Ito, Arata; Watanabe, Tsutomu; Tomoyoshi, Yabu - In: Journal of the Japanese and international economies : … 25 (2011) 4, pp. 380-413

Persistent link: https://www.econbiz.de/10009425814

Surprising Comparative Properties of Monetary Models : Results from a New Model Database

Taylor, John B. - 2010

In this paper we investigate the comparative properties of empirically-estimated monetary models of the U.S. economy. We make use of a new database of models designed for such investigations. We focus on three representative models: the Christiano, Eichenbaum, Evans (2005) model, the Smets and...

Persistent link: https://www.econbiz.de/10013136676

Credit risk transfers and the macroeconomy

Faia, Ester - 2010

credit risk transfer. The possibility of transferring credit reduces the impact of liquidity shocks on bank balance sheets …

Persistent link: https://www.econbiz.de/10011605302

Negative Interest Rates, Excess Liquidity and Retail Deposits : Banks’ Reaction to Unconventional Monetary Policy in the Euro Area

Demiralp, Selva; Eisenschmidt, Jens; Vlassopoulos, Thomas - 2021

reliance on retail deposit funding and the level of excess liquidity holdings may increase banks’ responsiveness to NIRP. We … segments. We are the first to document the importance of banks’ excess liquidity holdings for the effectiveness of NIRP …, pointing to a strong complementarity of NIRP with central bank liquidity injections, e.g. via asset purchases …

Persistent link: https://www.econbiz.de/10013221074

Monetary Policy and the Financing of Firms

De Fiore, Fiorella - 2012

How should monetary policy respond to changes in financial conditions? In this paper we consider a simple model where firms are subject to idiosyncratic shocks which may force them to default on their debt. Firms' assets and liabilities are denominated in nominal terms and predetermined when...

Persistent link: https://www.econbiz.de/10013116576

The Optimal Width of the Central Bank Standing Facilities Corridor and Banks' Day - to - Day Liquidity Management

Bindseil, Ulrich - 2011

facilities corridor affects banks' day-to-day liquidity management and the volatility of the overnight rate. It is shown that the …

Persistent link: https://www.econbiz.de/10013124641

Dual Liquidity Crises Under Alternative Monetary Frameworks : A Financial Accounts Perspective

Bindseil, Ulrich - 2012

This paper contributes to the literature on liquidity crises and central banks acting as lenders of last resort by … capturing the mechanics of dual liquidity crises, i.e. funding crises which encompass both the private and the public sector …, within a closed system of financial accounts. We analyze how the elasticity of liquidity provision by a central bank depends …

Persistent link: https://www.econbiz.de/10013100412