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Understanding Firm Dynamics with Daily Data

Hack, Lukas; Rostam-Afschar, Davud - 2025

How do firms' plans and expectations respond to macroeconomic shocks? We run a daily survey of German firms over the past three years. We randomize daily invitations, delivering a stable composition of firms. This allows constructing daily time series and estimating dynamic aggregate causal...

Persistent link: https://www.econbiz.de/10015409451

Discrimination and Health Outcomes in England's Black Communities amid the Cost-of-Living Crisis: Evaluating the Role of Inflation and Bank Rates

Drydakis, Nick - 2024

This study utilised longitudinal data from Black History Month events in London from 2021 to 2023. Novel findings revealed that increased inflation and Bank Rates, related to the cost-of-living crisis, were associated with greater discrimination and deteriorations in both general and mental...

Persistent link: https://www.econbiz.de/10015166295

Assessing Australian Monetary Policy in the Twenty-First Century

Gross, Isaac; Leigh, Andrew - 2022

Using the Reserve Bank of Australia's MARTIN model we compare actual monetary policy decisions to a counterfactual in which the cash rate is set according to an optimal simple rule. We find that monetary policy played a crucial role in avoiding a potential recession in 2001 and mitigating the...

Persistent link: https://www.econbiz.de/10013426410

The impact of labor markets on the transmission of monetary policy in an estimated DSGE model

Christoffel, Kai; Kuester, Keith; Linzert, Tobias - 2005

Real wages are a key determinant of marginal costs. The latter themselves are a driving force of inflation. We ask how wages and labor market shocks feed into the inflation process. We model search and matching frictions in the labour market in an otherwise standard New-Keynesian closed economy...

Persistent link: https://www.econbiz.de/10010267340

Distributional Effects of Monetary Policy in Emerging Market Economies

Prasad, Eswar; Zhang, Boyang - 2015

We develop a two-sector, heterogeneous-agent model with incomplete financial markets to study the distributional effects and aggregate welfare implications of alternative monetary policy rules in emerging market economies. Relative to inflation targeting, exchange rate management benefits...

Persistent link: https://www.econbiz.de/10011307491

Design Choices for Central Bank Digital Currency: Policy and Technical Considerations

Allen, Sarah; Capkun, Srdjan; Eyal, Ittay; Fanti, Giulia; … - 2020

, frictionless consumer payment and money-transfer systems, and a range of new financial instruments and monetary policy levers …

Persistent link: https://www.econbiz.de/10012270213

The Impact of Labor Markets on the Transmission of Monetary Policy in an Estimated DSGE Model

Christoffel, Kai; Kuester, Keith; Linzert, Tobias - Institute for the Study of Labor (IZA) - 2005

Persistent link: https://www.econbiz.de/10005762079

Money Illusion and Coordination Failure

Fehr, Ernst; Tyran, Jean-Robert - 2004

Economists long considered money illusion to be largely irrelevant. Here we show, however, that money illusion has … equilibrium; however, if we lift the veil of money by representing payoffs in real terms, the Pareto efficient equilibrium is … effects of money illusion: even though money illusion vanishes over time if subjects are given learning opportunities in the …

Persistent link: https://www.econbiz.de/10010261781

Does Money Illusion Matter? An Experimental Approach

Fehr, Ernst; Tyran, Jean-Robert - 2000

Money illusion means that people behave differently when the same objective situation is represented in nominal terms … differences in nominal price inertia indicating the behavioral importance of money illusion. In particular, if the payoff … money illusion causes asymmetric effects of negative and positive nominal shocks. While nominal inertia is quite substantial …

Persistent link: https://www.econbiz.de/10010262382

Some Thoughts on Macroeconomic Fluctuations and the Timing of Labor Market Reform

Saint-Paul, Gilles - 2002

n this paper, I analyze the pros and cons of implementing structural reforms of the labor market in booms vs. recessions, in light of considerations of social efficiency, political viability, and macroeconomic fine tuning. While the optimal timing of a reform depends on the relative importance...

Persistent link: https://www.econbiz.de/10010262615