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New Evidenceon Cyclical and Structural Sources of Unemployment
Chen, Jinzhu - 2011
unemployment, including the sharp rise in U.S. long-term unemployment during the Great Recession of 2007-09. About 75% of the … forecast error variance of unemployment is accounted for by cyclical factors-real GDP changes (?Okun‘s Law?), monetary and … dispersion of industry-level stock returns, account for the remaining 25 percent. For U.S. long-term unemployment the split …
Persistent link: https://www.econbiz.de/10014399411
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Are the Unemployed Unemployable?
Saint-Paul, Gilles - 1994
may have increased unemployment. It is shown that it is likely to be so if they are associated with an increase in the …
Persistent link: https://www.econbiz.de/10014398139
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Banks As Coordinators of Economic Growth
Ueda, Kenichi - 2006
This paper formally identifies an important role of banks: Banks competitively internalize production externalities and facilitate economic growth. I formulate a canonical growth model with externalities as a game among consumers, firms, and banks. Banks compete for deposits to seek monopoly...
Persistent link: https://www.econbiz.de/10014399670
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Risky bank lending and optimal capital adequacy regulation
Benes, Jaromir; Kumhof, Michael - 2011
Persistent link: https://www.econbiz.de/10009425667
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Fiscal rules in a volatile world : a welfare-based approach
García, Carlos José; Restrepo L., Jorge Enrique; … - 2011
Persistent link: https://www.econbiz.de/10009486197
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The costs of macroprudential deleveraging in a liquidity trap
Chen, Jiaqian; Finocchiaro, Daria; Lindé, Jesper; … - 2020
We examine the effects of various borrower-based macroprudential tools in a New Keynesian environment where both real and nominal interest rates are low. Our model features long-term debt, housing transaction costs and a zero-lower bound constraint on policy rates. We find that the long-term...
Persistent link: https://www.econbiz.de/10012251966
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The macroeconomic effects of trade tariffs : revisiting the Lerner symmetry result
Lindé, Jesper; Pescatori, Andrea - 2017
We study the robustness of the Lerner symmetry result in an open economy New Keynesian model with price rigidities. While the Lerner symmetry result of no real effects of a combined import tariff and export subsidy holds up approximately for a number of alternative assumptions, we obtain...
Persistent link: https://www.econbiz.de/10011705009
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A closed form multivariate linear filter
Boadway, Robin W.; Vitek, Francis - 2018
Multivariate Linear Filter to jointly estimate potential output, the natural rate of unemployment and the natural rate of interest …
Persistent link: https://www.econbiz.de/10011978601
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Fiscal Stimulus with Spending Reversals
Müller, Gernot - 2009
The impact of fiscal stimulus depends not only on short-term tax and spending policies, but also on expectations about offsetting measures in the future. This paper analyzes the effects of an increase in government spending under a plausible debt-stabilizing policy that links current stimulus to...
Persistent link: https://www.econbiz.de/10014402389
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Effects of Fiscal Stimulus in Structural Models
Kumhof, Michael - 2010
The paper assesses, using seven structural models used heavily by policymaking institutions, the effectiveness of temporary fiscal stimulus. Models can, more easily than empirical studies, account for differences between fiscal instruments, for differences between structural characteristics of...
Persistent link: https://www.econbiz.de/10014402816