Showing 1 - 10 of 22,527
We develop a DSGE model with firm-specific labor where firm-level wage bargaining and price setting are subject to …
Persistent link: https://www.econbiz.de/10010127998
We study a large market model of dynamic matching with no monetary transfers and a continuum of agents. Time is discrete and horizon finite. Agents are in the market from the first date and, at each date, have to be assigned items (or bundles of items). When the social planner can only elicit...
Persistent link: https://www.econbiz.de/10013217482
Recent literature on monetary policy has emphasised the role of expectations and the merits of tying them down through credible commitment. However, although always in favour of reaping the benefits of having committed, Central Banks worry about the fact that in real time, it is not always easy...
Persistent link: https://www.econbiz.de/10014055507
The efficacy of the widely-adopted “top-n” policy in university integration has been questioned because students strategically relocate to low-achieving high schools. We show that when different SES groups have heterogenous relocation costs, the policy can even segregate minorities from the...
Persistent link: https://www.econbiz.de/10013298853
We assess whether the voting records of central bank boards are informative about future monetary policy. First, we specify a theoretical model of central bank board decision-making and simulate the voting outcomes. Three different versions of model are estimated with simulated data: 1)...
Persistent link: https://www.econbiz.de/10010322275
-known bargaining solutions. We apply the Nash, the Egalitarian and the Kalai-Smorodinsky bargaining solutions in the small firm … viewpoint, we extend a somewhat flexible search-matching economy to alternative bargaining solutions. In particular, we prove …, our results show that even though the traditional results of bargaining theory apply in this context, they are generally …
Persistent link: https://www.econbiz.de/10009639478
Monetary Policy Committees differ in the way the interest rate proposal is preparedand presented in the policy meeting. In this paper we show analytically how differentarrangements could affect the voting behaviour of individual MPC members andtherefore policy outcomes. We then apply our results...
Persistent link: https://www.econbiz.de/10005866511
We assess whether the voting records of central bank boards are informative about future monetary policy. First, we specify a theoretical model of central bank board decision-making and simulate the voting outcomes. Three different versions of model are estimated with simulated data: 1)...
Persistent link: https://www.econbiz.de/10009389058
We present a model of executive-legislative bargaining over appointments to independent central banks in the face of an …
Persistent link: https://www.econbiz.de/10012974160
Counterfeit money is the topic of television, movies, and lore but hardly seen by most of us - for only about one in ten thousand notes is found to be counterfeit, annually, in the USA (Judson and Porter 2003). And while the value of globally seized and passed counterfeit American dollars has...
Persistent link: https://www.econbiz.de/10013039869