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step, I investigate how wages in the production sector affect bank net worth and the process of financial intermediation in … capital to a change in wages. This finding is relevant for the determination of optimal monetary policy, both for financial … shocks and supply shocks inflation stabilization imposes high welfare costs. At the same time, stabilizing nominal wages …
Persistent link: https://www.econbiz.de/10012836922
first step, I investigate how wages in the production sector affect bank net worth and the process of financial … capital to a change in wages. This finding is relevant for the determination of optimal monetary policy, both for financial … shocks and supply shocks inflation stabilization imposes high welfare costs. At the same time, stabilizing nominal wages …
Persistent link: https://www.econbiz.de/10013289893
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We assess the effects of financial shocks on inflation, and to what extent financial shocks can account for the "missing disinflation" during the Great Recession. We apply a vector autoregressive model to US data and identify financial shocks through sign restrictions. Our main finding is that...
Persistent link: https://www.econbiz.de/10011546785
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