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Heterogeneous-agent New Keynesian models with sticky nominal wages usually assume that wage-setting unions demand the same amount of hours from all households. As a result, unions do not take account of the fact that (i) households are heterogeneous in their willingness to work, and that (ii)...
Persistent link: https://www.econbiz.de/10014467926
Monetary DSGE models are widely used because they fit the data well and they can be used to address important monetary policy questions. We provide a selective review of these developments. Policy analysis with DSGE models requires using data to assign numerical values to model parameters. The...
Persistent link: https://www.econbiz.de/10014025673
This paper calculates the cost of an unemployment shock in terms of family welfare for married and single families separately and by education level. We find that, overall, families face an average annualized expected dollar equivalent welfare loss of $1,156 when the unemployment rate rises by 1...
Persistent link: https://www.econbiz.de/10011722374
Monetary policy is conventionally understood to influence labor demand, with little effect on labor supply. We estimate the response of labor market flows to high-frequency changes in interest rates around FOMC announcements and Fed Chair speeches and find that, in contrast to the consensus...
Persistent link: https://www.econbiz.de/10014421195
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We conducted a multi-wave field experiment to study the interaction of peer effects and selfcontrol among undergraduate students. We use a behavioral measure of self-control based on whether students achieve study related goals they have set for themselves. We find that both self-control and the...
Persistent link: https://www.econbiz.de/10010337640
existence of networks that support women's rise and the governance of the central bank. The analysis uses new panel data that … women and the central bank has more independence …
Persistent link: https://www.econbiz.de/10012907189
We construct a new dataset on the presence of women on central bank monetary policy committees for a set of 103 … countries, over the period 2002-2016. We document an increasing share of women in monetary policy committees, which is mainly … associated with a higher overall presence of women in central banks and less so with other institutional factors or country …
Persistent link: https://www.econbiz.de/10012911353
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