This dissertation consists of three independent essays in Macroeconomics. The first essay analyzes monetary coordination between currency areas. It is shown that search frictions can generate the deviations from the law of one price and that each country is tempted to exploit these deviations by...

This thesis covers three issues: the aggregate and welfare effects of environmental policies when plants are heterogeneous; what causes the different patterns of employment dynamics in small versus large firms over business cycles; and the welfare costs of expected and unexpected inflation. In...

The history of money has always been intertwined with the history of banking. Nevertheless, very few papers have studied banking in a rigorous monetary environment. This thesis demonstrates that it is crucial to integrate these two literatures. I present three theories of money and banking, each...

This dissertation consists of three essays in Macroeconomics. The first essay assesses the impact of offshoring on aggregate productivity and on labour market outcomes by developing a dynamic general equilibrium model in which workers acquire task-specific human capital. The dynamic nature of...