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The heterogeneous impact of referrals on labor market outcomes
Lester, Benjamin; Rivers, David A.; Topa, Giorgio - 2021
We document a new set of facts regarding the impact of referrals on labor market outcomes. Our results highlight the … importance of distinguishing between different types of referrals-those from family and friends and those from business contacts …-and different occupations. Then we develop an on-the-job search model that incorporates referrals and calibrate the model to key …
Persistent link: https://www.econbiz.de/10012660361
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The heterogeneous impact of referrals on labor market outcomes
Lester, Benjamin; Rivers, David A.; Topa, Giorgio - 2021
Persistent link: https://www.econbiz.de/10012744660
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The macro view
Balling, Morten (ed.); Berk, Jan Marc (ed.);  … - Colloquium The Quest for Stability <2009, Utrecht>; … - 2010
On September 3-4, 2009, SUERF and Utrecht University School of Economics jointly organized the 28th SUERF Colloquium on "The Quest for Stability" in Utrecht, the Netherlands. The papers contained in this SUERF Study jointly published with DNB and Rabobank are based on contributions to this...
Persistent link: https://www.econbiz.de/10011706504
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A model of the federal funds market : yesterday, today, and tomorrow
Afonso, Gara; Armenter, Roc; Lester, Benjamin - 2018
The landscape of the federal funds market changed drastically in the wake of the Great Recession as large-scale asset purchase programs left depository institutions awash with reserves and new regulations made it more costly for these institutions to lend. As traditional levers for implementing...
Persistent link: https://www.econbiz.de/10011806257
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A model of the federal funds market : yesterday, today, and tomorrow
Afonso, Gara; Armenter, Roc; Lester, Benjamin - 2018
The landscape of the federal funds market changed drastically in the wake of the Great Recession as large-scale asset purchase programs left depository institutions awash with reserves, and new regulations made it more costly for these institutions to lend. As traditional levers for implementing...
Persistent link: https://www.econbiz.de/10011891810
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The option value of municipal liquidity: evidence from federal lending cutoffs during COVID-19
Haughwout, Andrew; Hijmans, Benjamin L.; Shachar, Or - 2021
We estimate the option value of municipal liquidity by studying bond market activity and public sector hiring decisions when government budgets are severely distressed. Using a regression discontinuity (RD) design, we exploit lending eligibility population cutoffs introduced by the federal...
Persistent link: https://www.econbiz.de/10012660369
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Future of the Economic and Monetary Union
Gortsos, Christos V. - 2022
The present paper contains a brief presentation and analysis, in a historical perspective through the lens of the recent major crises, of the legal framework governing the European Economic and Monetary Union (EMU), as well as current developments and challenges ahead. It is structured in three...
Persistent link: https://www.econbiz.de/10014077291
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Evolving key risks in the banking sector, and related priorities for the SRB : the impact of the current ‘inflation crisis’
Gortsos, Christos V. - 2023
This study discusses recent and current conditions relating to financial stability in the euro area, developing, in particular, on the impact of the current “inflation crisis” on financial stability vulnerabilities. Furthermore, it addresses two related priorities for the Single Resolution...
Persistent link: https://www.econbiz.de/10014258303
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Inflation: thruway of ECB's monetary policy
Seidl, Christian - 2023
Part of the present inflation is caused by the breakdown of globalization, in particular supply chains, part is caused by the Corona Pandemic, in particular lockdowns, part is caused by the Ukrainian War, part is caused by European sanctions, and part - and not the smallest one - is caused by...
Persistent link: https://www.econbiz.de/10013553631
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Unsecured and secured funding
Di Filippo, Mario; Ranaldo, Angelo; Wrampelmeyer, Jan - 2018
We empirically investigate why wholesale funding is fragile by providing the first study of how individual banks borrow and lend in the euro unsecured and secured interbank market. Consistent with theories in which lenders enforce market discipline by monitoring counterparty credit risk and...
Persistent link: https://www.econbiz.de/10011818292