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We study the nonlinearities present in a standard monetary labor search model modified to have two groups of workers facing exogenous differences in the job finding and separation rates. We use our setting to study the racial unemployment gap between Black and white workers in the US. A...
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I develop a heterogeneous-agent New-Keynesian model featuring racial inequality in income and wealth, and studies interactions between racial inequality and monetary policy. Black and Hispanic workers gain more from accommodative monetary policy than White workers mainly due to higher labor...
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. However, such policies are not gender- or race-neutral. This paper explores econometrically the effect of changes in the … race. Our results show that the real interest rate has a positive effect on the relative unemployment of black men to white …
Persistent link: https://www.econbiz.de/10014230398
The studies on monetary policy highlight that a contractionary policy reduces a firm's access to external funds. However, it is unknown whether it affects men and women equally. In this scenario, the aim of this paper is twofold. First, to investigate the differential effect of monetary policy...
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The notion of new economy was coined in the United States when there was increasing evidence that, as a result of the introduction of new technologies, the traditional behavior of macroeconomic variables might have changed. The expansion of the 1990s differed from its predecessors in three...
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