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Labor market shocks and monetary policy
Birinci, Serdar; Karahan, Fatih; Mercan, Yusuf; See, Kurt - 2023 - Last updated: October 5, 2023
We develop a heterogeneous-agent New Keynesian model featuring a frictional labor market with on-the-job search to quantitatively study the positive and normative implications of employer-to-employer (EE) transitions for inflation. We find that EE dynamics played an important role in shaping the...
Persistent link: https://www.econbiz.de/10014456659
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Imperfect Information, Lagged Labor Adjustment and the Great Moderation
Willems, Tim - 2012
This paper first documents the increase in the time lag with which labor input reacts to the economy's driving structural shocks ("the labor adjustment lag") that is visible in US data since the mid-1980s. We show that lagged labor adjustment is optimal in a setting where there is uncertainty...
Persistent link: https://www.econbiz.de/10013116929
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Economía española : estructura y coyuntura
Trigo Portela, Joaquín - 1991 - 1. ed
Persistent link: https://www.econbiz.de/10000838668
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Hazardous times for monetary policy : what do twenty-three million bank loans say about the effects of monetary policy on credit risk?
Jiménez, Gabriel; Ongena, Steven; Peydró, José-Luis; … - 2007
Persistent link: https://www.econbiz.de/10003674588
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Hazardous times for monetary policy : what do twenty-three million bank loans say about the effects of monetary policy on credit risk?
Jiménez, Gabriel; Ongena, Steven; Peydró, José-Luis; … - 2007
Persistent link: https://www.econbiz.de/10003574298
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Rethinking potential output : embedding information about the financial cycle
Borio, Claudio E. V.; Disyatat, Piti; Juselius, Mikael - 2013
This paper argues that incorporating information about the financial cycle is important to improve measures of potential output and output gaps. Conceptually, identifying potential output with non-inflationary output is too restrictive. Potential output is seen as sustainable; yet experience...
Persistent link: https://www.econbiz.de/10009735518
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Falacias, dilemas y paradojas : la economía de España: 1980 - 2010
Sanchís i Marco, Manuel - 2011 - 2a ed., corr. y ampliada
Persistent link: https://www.econbiz.de/10009419409
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Hazardous times for monetary policy : what do twenty-three million bank loans say about the effects of monetary policy on credit risk-taking?
Jiménez, Gabriel; Ongena, Steven; Peydró, José-Luis; … - In: Econometrica : journal of the Econometric Society, an … 82 (2014) 2, pp. 463-505
Persistent link: https://www.econbiz.de/10010404517
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Business fixed investment : evidence of a financial accelerator in Europe
Vermeulen, Philip - In: Oxford bulletin of economics and statistics 64 (2002) 3, pp. 217-235
Persistent link: https://www.econbiz.de/10001694539
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Banking Stability and the Financial Cycle : The Spanish Experience
Lozano-Vivas, Ana - 2017
This paper defines the special characteristics of the financial cycle of Spain during the period 1995-2016 and … these two empirical analyses highlight that the financial cycle in Spain is accurately defined by the credit-to-GDP ratio … early warning indicator of the banking crisis in Spain. Finally, an exogenous deviation of actual loan loss provisions …
Persistent link: https://www.econbiz.de/10012955386