Dieser Aufsatz untersucht die Hypothese, dass der Grad an Arbeitsmarkthysterese in Folge einer Rezession von der Reaktion der Geldpolitik abhängt. Der Hysteresegrad wird in der empirischen Untersuchung durch die geldpolitische Reaktion und Standardvariablen für Arbeitsmarktinstitutionen in...

Conventional wisdom suggests that producer prices are more rigid than consumer prices and therefore play less of a role in the allocation of goods and services. Analyzing 1987-2008 microdata collected by the U.S. Bureau of Labor Statistics for the producer price index, we find that producer...

This paper provides new evidence for the empirical literature that investigates the presence of political cycles in fiscal policy and, more precisely, public investments in Brazil. The approach differs from most of the studies for applying the state-space modeling. The greatest benefit is to...

Empirical evidence suggests that real exchange rates (RER) behave differently in developed and developing countries. We develop an overlapping generations two-sector exogenous growth model in which RER determination may depend on the country's capacity to borrow from international capital...

Credit gaps are good predictors for financial crises, and banking regulators recommend using them to inform countercyclical capital buffers for banks. Researchers typically create credit gap measures using trend-cycle decomposition methods, which require many modelling choices, such as the...

This paper proposes an approximate solution of firm's optimal inattentive length in a standard macroeconomic model. The approximate solution conceptually fits a sticky-information model better, and predicts empirically more plausible inattentive length than the one proposed by Reis (2006)

Credit gaps are good predictors for financial crises, and banking regulators recommend using them to inform countercyclical capital buffers for banks. Researchers typically create credit gap measures using trend-cycle decomposition methods, which require many modelling choices, such as the...