Search Results - subject:"Search and matching"

Essays on the cyclicality of the user cost of labor

Kudlyak, Marianna (1978; Bils, Mark J.

investigate the cyclicality of the user cost of labor in search and matching models and show that the user cost of labor and not … and matching model. I find that in the presence of implicit contracts the wage component of the user cost is much more … wages. I calculate the cyclicality of the user cost and its components under alternative wage setting mechanisms in a search …

Persistent link: https://www.econbiz.de/10009483046

Search frictions, real rigidities and inflation dynamics

Thomas, Carlos

I analyze the effect of search frictions on inflation dynamics, in a New Keynesian model where firms make both pricing and vacancy posting decisions. I find that search frictions create real rigidities in price setting. This mechanism flattens the New Keynesian Phillips curve, relative both to...

Persistent link: https://www.econbiz.de/10012529957

CBDC and the operational framework of monetary policy

Abad, Jorge; Nuño, Galo; Thomas, Carlos

En este trabajo analizamos el impacto de la introducción de una moneda digital emitida por el banco central (CBDC, por sus siglas en inglés) sobre el marco operativo de la política monetaria y la macroeconomía en su conjunto. Para ello, desarrollamos un modelo neokeynesiano con bancos...

Persistent link: https://www.econbiz.de/10014573558