Showing 1 - 10 of 869
We characterize optimal monetary policy in a New Keynesian search-and-matching model where multiple-worker firms satisfy demand in the short run by adjusting hours per worker. Imperfect product market competition and search frictions reduce steady state hours per worker below the efficient...
Persistent link: https://www.econbiz.de/10013049851
Sound household financial conditions are relevant for both financial and monetary stability. Therefore, we analyse … household financial fragility in a sample of euro area countries with the aim to shed some light on the nature of the large debt … increase accumulated in recent years. We focus on household arrears on payment obligations, which are one of the most direct …
Persistent link: https://www.econbiz.de/10013318115
equity. Using US household data from the Survey of Income and Program Participation for the period 1996-2006, we find that … applies. This home equity bias is also more pronounced if the household head is in poor health, increasing the chance of … tenures, and younger household heads, which taken together reflect households that face more financial uncertainty …
Persistent link: https://www.econbiz.de/10013126001
We build a business cycle model characterized by endogenous firms dynamics, where banks may prefer debt renegotiation, i.e. non-performing exposures, to outright borrowers default. We find that debt renegotiations only do not have adverse effects in the event of financial crisis episodes, but a...
Persistent link: https://www.econbiz.de/10013239325
We characterize optimal monetary policy in a New Keynesian search-and-matching model where multiple-worker firms satisfy demand in the short run by adjusting hours per worker. Imperfect product market competition and search frictions reduce steady state hours per worker below the efficient...
Persistent link: https://www.econbiz.de/10011605758
capital buffers, lending restrictions and caps on maturity mismatches on credit to the non-financial private sector in the EU … as well as of the relative ineffectiveness of sectoral risk weights in controlling credit growth. …
Persistent link: https://www.econbiz.de/10011853311
In this paper we explore the cross-country implications of climate-related mitigation policies. Specifically, we set up a two-country, two-sector (brown vs green) DSGE model with negative production externalities stemming from carbon-dioxide emissions. We estimate the model using US and euro...
Persistent link: https://www.econbiz.de/10012605264
Labor productivity is more procyclical in OECD countries with lower employment volatility. To capture this new stylized fact, we propose a business cycle model with employment adjustment costs, variable hours and labor effort. We show that, in our model with variable effort, greater labor market...
Persistent link: https://www.econbiz.de/10012605267
capital buffers, lending restrictions and caps on maturity mismatches on credit to the non-financial private sector in the EU … as well as of the relative ineffectiveness of sectoral risk weights in controlling credit growth …
Persistent link: https://www.econbiz.de/10012930199
Labor productivity is more procyclical in OECD countries with lower employment volatility. To capture this new stylized fact, we propose a business cycle model with employment adjustment costs, variable hours and labor effort. We show that, in our model with variable effort, greater labor market...
Persistent link: https://www.econbiz.de/10013222414