We analyze the business cycle implications of firms having oligopsony power in labor markets, as well as oligopoly power in product markets, within the context of an estimated New Keynesian dynamic stochastic general equilibrium model with firm entry and exit. The strategic interaction between...

We analyze the business cycle implications of firms having oligopsony power in labor markets, as well as oligopoly power in product markets, within the context of an estimated New Keynesian dynamic stochastic general equilibrium model with firm entry and exit. The strategic interaction between...

We investigate how the business, credit and interest rate cycles affect the monetary transmission mechanism, using state-dependent local projection methods and data from 18 advanced economies. We exploit the time-series variation within countries, as well as cross-sectional variation across...

The Euro-area poses a unique problem in evaluating policy: a currency union with a shared monetary policy and country-specific fiscal policy. Analysis can be further complicated if high levels of public debt affect the performance of stabilization policy. We construct a framework capable of...