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We outline the case for credit frictions and a demand side aspect to labor market fluctuations. To illustrate the above proposition, we present a simple framework to analyze the joint dependence between a labor search problem in the labor market and a costly state verification problem in the...
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The importance of liquidity and insolvency for nation states and banks has been highlighted by current economic woes in … full circle. Discussing some modern authors, it is argued that the concepts of liquidity and insolvency are connected …
Persistent link: https://www.econbiz.de/10011553939
The economic recovery in CESEE has strengthened further in recent months, resulting in a number of additional upgrades to our growth forecasts for 2021, to 5.4% on the regional average. This good performance has been built on two important foundation stones: the adaptation of the CESEE economies...
Persistent link: https://www.econbiz.de/10012663107
In order to improve our understanding of the channels through which monetary policy has distributional consequences, we build a New Keynesian model with incomplete asset markets, asymmetric search and matching (SAM) frictions across skilled and unskilled workers and, foremost, capital-skill...
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die jeweiligen Implikationen dieser Sachverhalte für die Geldpolitik untersucht. Im ersten Aufsatz (gemeinsam mit Kai D … Konjunkturzyklus zu erklären. Optimale Geldpolitik unter Einbeziehung von Fähigkeitsverlusten erlaubt eine höhere Inflationsvolatilität … zu reduzieren und somit Konsumverluste abzufedern. Auf diese Weise berücksichtigt optimale Geldpolitik die Auswirkungen …
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This article addresses Japan's economy, its new economic policy package, which is known as Abenomics. The centerpiece …
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