We use a dynamic general equilibrium model to obtain quantitative estimates of the welfare costs of nominal wage contracts. We find that the welfare costs of such contracts can vary quite a bit depending on the degree of indexation, the size and persistence of money supply uncertainty and the...

Did the masculinity-driven corporate culture of Wall Street change after the 2008 global financial crisis? According to the neuroendocrinology literature, the voice pitch of a male is an ‘honest signal' of his testosterone level that affects risk taking for social dominance. We use digitally...