Similar Search Results

On the Timing and Efficiency of Creative Destruction

Caballero, Ricardo J. - 2010

This paper analyzes the timing, pace and efficiency of the on- going job reallocation that results from product and … policies can restore economic efficiency …

Persistent link: https://www.econbiz.de/10013139984

Young and Out in Germany : On the Youths' Chances of Labor Market Entrance in Germany

Franz, Wolfgang; Inkmann, Joachim; Pohlmeier, Winfried; … - 2021

This paper deals with the labor market entrance of young people in the Federal Republic" of Germany. The main focus is … on failures during this stage. First, an overview of the youth" labor market in Germany is given. Then, the transition …

Persistent link: https://www.econbiz.de/10013222219

German and American Wage and Price Dynamics : Differences and Common Thenes

Franz, Wolfgang; Gordon, Robert J. - 2021

The evolution of unemployment in West Germany and the U. S. stands in sharp contrast, with German unemployment much … big difference berween the two countries is that there is no feedback from wages to prices in Germany, and so high … unemployment does not put downward pressure on the inflation rate. During the 19705 and 19805 in Germany there emerged a growing …

Persistent link: https://www.econbiz.de/10013237265

The Duration of Youth Unemployment in West Germany : Some Theoretical Considerations

Franz, Wolfgang - 2021

This paper presents a theoretical model dealing with the duration of youth unemployment in West Germany. Duration can …

Persistent link: https://www.econbiz.de/10013249173

The Reservation Wage of Unemployed Persons in the Federal Republic of Germany : Theory and Empirical Tests

Franz, Wolfgang - 2021

This study examines the determinants of the reservation wage of unemployed persons in the Federal Republic of Germany …

Persistent link: https://www.econbiz.de/10013249255

A Model of the Safe Asset Mechanism (Sam) : Safety Traps and Economic Policy

Caballero, Ricardo J. - 2013

The global economy has a chronic shortage of safe assets which lies behind many recent macroeconomic imbalances. This paper provides a simple model of the Safe Asset Mechanism (SAM), its recessionary safety traps, and its policy antidotes. Safety traps share many common features with...

Persistent link: https://www.econbiz.de/10013087881

Carry Trade and Systemic Risk : Why are FX Options so Cheap?

Caballero, Ricardo J. - 2013

In this paper we document first that, in contrast with their widely perceived excess returns, popular carry trade strategies yield low systemic-risk-adjusted returns. In particular, we show that carry trade returns are highly correlated with the return of a VIX rolldown strategy --i.e., the...

Persistent link: https://www.econbiz.de/10013089284

Fire Sales in a Model of Complexity

Caballero, Ricardo J. - 2009

Financial assets provide return and liquidity services to their holders. However, during severe financial crises many asset prices plummet, destroying their liquidity provision function at the worst possible time. In this paper we present a model of fire sales and market breakdowns, and of the...

Persistent link: https://www.econbiz.de/10013155022

Microeconomic Rigidities and Aggregate Price Dynamics

Caballero, Ricardo J. - 2007

This paper is an attempt to enrich the characterization of the sluggish behavior of the aggregate price level. Our contribution to this vast literature is to explicitly consider microeconomic heterogeneity and its interaction with nonlinear microeconomic price adjustment policies. The model we...

Persistent link: https://www.econbiz.de/10012776846

Bubbles and Capital Flow Volatility : Causes and Risk Management

Caballero, Ricardo J. - 2005

Emerging market economies are fertile ground for the development of real estate and other financial bubbles. Despite these economies' significant growth potential, their corporate and government sectors do not generate the financial instruments to provide residents with adequate stores of value....

Persistent link: https://www.econbiz.de/10012784276