This paper analyzes country bailouts in a monetary union within a framework where sovereign default and exit from the union are two separate decisions. The studied bailouts are meant to prevent an exit and, thus, do not exclude subsequent defaults. The model replicates the experience of Greece,...

We consider a Hamiltonian system associated with the two-well umbilical catastrophe potential D5, while the corresponding potential contains only one free parameter. We determine how this free parameter affects the equilibrium dynamics of the system by computing their coordinates on the...

Gas holdup along with the superficial gas velocity was systematically investigated in a lab-scale bubble column. The experiments were conducted in a bubble column with a height of 6 m at superficial gas velocity of 0.01 - 0.13 m/s. Experimental results show that dynamic equilibrium region was...

This paper investigates how Italian labour market institutions influence business cyclefluctuations. We apply a DSGE model that features Italian labour market rigidities and weestimate the latter on Italian data using Bayesian techniques to assess the effects of demand,supply, and labour market...

We study the interaction between imperfect information and financial frictions and its role in driving financial crises in small open economies. We use a model where households observe income growth but do not perceive whether the underlying shocks are permanent or transitory and borrowing is...

This paper presents and compares Newton-based methods from the applied mathematics literature for solving the matrix quadratic that underlies the recursive solution of linear DSGE models. The methods are compared using nearly 100 different models from the Macroeconomic Model Data Base (MMB) and...

In the euro area, monetary policy is conducted by a single central bank for 19 member countries. However, countries are heterogeneous in their economic development, including their inflation rates. This paper combines a New Keynesian model and a neural network to assess whether the European...