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Comment on The costs of losing monetary independence : the case of Mexico

Albanesi, Stefania; Christiano, Lawrence J. - In: Journal of money, credit and banking : JMCB 33 (2001) 2/2, pp. 398-403

Persistent link: https://www.econbiz.de/10001585343

Financial Dollarization in Emerging Markets : Efficient Risk Sharing or Prescription for Disaster?

Christiano, Lawrence J.; Dalgic, Husnu; Nurbekyan, Armen - National Bureau of Economic Research - 2021

This paper pushes back against two views about the effects of dollarization. First, there is a view that the dollar is … widespread view that dollarization raises the risk of systemic banking and other crises. Although we identify sources of … fragility in some aspects of dollarization, the common view that financial dollarization is a source of fragility is over …

Persistent link: https://www.econbiz.de/10012599324

Involuntary unemployment and the business cycle

Christiano, Lawrence J.; Trabandt, Mathias; Walentin, Karl - 2010

We propose a monetary model in which the unemployed satisfy the official US definition of unemployment: they are people without jobs who are (i) currently making concrete efforts to find work and (ii) willing and able to work. In addition, our model has the property that people searching for...

Persistent link: https://www.econbiz.de/10009640338

Involuntary unemployment and the business cycle

Christiano, Lawrence J.; Trabrandt, Mathias; Walentin, Karl - 2012

Can a model with limited labor market insurance explain standard macro- and labor market data jointly? We seek to construct a monetary model in which: i) the unemployed are worse off than the employed, i.e. unemployment is involuntary and ii) the labor force participation rate varies with the...

Persistent link: https://www.econbiz.de/10010320732