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Evaluating microfoundations for aggregate price regidities: evidence from matched firm-level data on product prices and unit labor cost

Carlsson, Mikael; Nordström Skans, Oskar - 2009

strongly to predictable marginal cost changes, as expected from the Mankiw and Reis (2002) Sticky Information Model. We �nd …

Persistent link: https://www.econbiz.de/10011605129

The cyclical behavior of equilibrium unemployment and vacancies revisited

Hagedorn, Marcus; Manovskii, Iourii - 2008

Recently, a number of authors have argued that the standard search model cannot generate the observed business-cycle-frequency fluctuations in unemployment and job vacancies, given shocks of a plausible magnitude. We use data on the cost of vacancy creation and cyclicality of wages to identify...

Persistent link: https://www.econbiz.de/10011604899

Do firms provide wage insurance against shocks? Evidence from Hungary

Kátay, Gábor - 2008

In this paper I address the question to what extent wages are affected by product market uncertainty. Implicit contract models imply that it is Pareto optimal for risk neutral firms to provide insurance to risk averse workers against shocks. Using matched employer-employee dataset, I adopted the...

Persistent link: https://www.econbiz.de/10011605010

Inter-industry wage differentials: how much does rent sharing matter?

Du Caju, Philip; Rycx, François; Tojerow, Ilan - 2009

This paper investigates inter-industry wage differentials in Belgium, taking advantage of access to a unique matched employer-employee data set covering all the years from 1999 to 2005. Findings show the existence of large wage differentials among workers with the same observed characteristics...

Persistent link: https://www.econbiz.de/10011605149

Inter-industry Wage Differentials : How Much Does Rent Sharing Matter?

Du Caju, Philip - 2009

Persistent link: https://www.econbiz.de/10013155793

Counterfeiting and inflation

Monnet, Cyril - 2005

matching model with no commitment and no enforcement. An intrinsically worthless but perfectly durable object called a ‘note …

Persistent link: https://www.econbiz.de/10011604558

Optimal sticky prices under rational inattention

Maćkowiak, Bartosz; Wiederholt, Mirko - 2009

information flow. When idiosyncratic conditions are more variable or more important than aggregate conditions, firms pay more …

Persistent link: https://www.econbiz.de/10011605055

Rational Inattention : A Review

Maćkowiak, Bartosz; Matějka, Filip; Wiederholt, Mirko - 2021

agents cannot process all available information, but they can choose which exact pieces of information to attend to. Several … important results in economics have been built around imperfect information. Nowadays, many more forms of information than ever … before are available due to new technologies, and yet we are able to digest little of it. Which form of imperfect information …

Persistent link: https://www.econbiz.de/10013222707

Macroeconomic Vulnerability and Disagreement in Expectations

Badarinza, Cristian - 2011

In this paper we discuss the role of the cross-sectional heterogeneity of beliefs in the context of understanding and assessing macroeconomic vulnerability. Emphasis lies on the potential of changing levels of disagreement in expectations to influence the propensity of the economy to switch...

Persistent link: https://www.econbiz.de/10013117806

Money Talks

Hoerova, Marie - 2010

We study credible information transmission by a benevolent Central Bank. We consider two possibilities: direct … revelation through an announcement, versus indirect information transmission through monetary policy. These two ways of … transmitting information have very different consequences. Since the objectives of the Central Bank and those of individual …

Persistent link: https://www.econbiz.de/10013150973