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Market Deregulation and Optimal Monetary Policy in a Monetary Union

Cacciatore, Matteo - 2013

The wave of crises that began in 2008 reheated the debate on market deregulation as a tool to improve economic … policy to reduce transition costs. Third, deregulation reduces static and dynamic inefficiencies, making price stability more … desirable. International synchronization of reforms can eliminate policy tradeoffs generated by asymmetric deregulation …

Persistent link: https://www.econbiz.de/10013082164

International Welfare and Employment Linkages Arising from Minimum Wages

Egger, Hartmut - 2010

We formulate a two-country model with monopolistic competition and heterogeneous firms to reconsider labor market linkages in open economies. Labor-market imperfections arise by virtue of country-specific real minimum wages. Two principal experiments are considered. First, we show that trade...

Persistent link: https://www.econbiz.de/10013151811

The Domestic and International Effects of Interstate U.S. Banking

Ghironi, Fabio Pietro - 2010

implements this form of deregulation experiences increased producer entry, real exchange rate appreciation, and a current account …

Persistent link: https://www.econbiz.de/10013135057

Evaluating Labor Market Reforms : A General Equilibrium Approach

Alonso-Borrego, César; Fernández-Villaverde, Jesús; … - 2021

common such contracts have become after deregulation, there is a lack of quantitative analysis of their impact on the economy …

Persistent link: https://www.econbiz.de/10013222310

Macroeconomic Effects of Regulation and Deregulation in Goods and Labor Markets

Blanchard, Olivier; Giavazzi, Francesco - 2021

Product and labor market deregulation are fundamentally about reducing and redistributing rents, leading economic … players to adjust in turn to this new distribution. Thus, even if deregulation eventually proves beneficial, it comes with … market deregulation, we then use our results to study two specific issues. First, to shed light on macroeconomic evolutions …

Persistent link: https://www.econbiz.de/10013213061

The Effects of Unemployment Insurance Benefits : New Evidence and Interpretation

Schmieder, Johannes - 2016

, there have been important advances in both theory and measurement of UI. In this paper, we first use the theory to present a …

Persistent link: https://www.econbiz.de/10012984118

Establishing a Monetary Union

Cooper, Russell W.; Kempf, Hubert - 2021

This paper explores the gains to monetary union. We consider a two-country overlapping generations model. Agents work when young and have random tastes over the composition (domestic vs. foreign goods) of old age consumption. In equilibrium, governments require that local currency be used for...

Persistent link: https://www.econbiz.de/10013218515

A Theory of Capital Controls as Dynamic Terms-of-Trade Manipulation

Costinot, Arnaud - 2011

This paper develops a simple theory of capital controls as dynamic terms-of-trade manipulation. We study an infinite … international capital flows converge to zero. Although our theory emphasizes interest rate manipulation, the country's net financial …

Persistent link: https://www.econbiz.de/10013117215

Risk and Exchange Rates

Obstfeld, Maurice; Rogoff, Kenneth S. - 2021

This paper develops an explicitly stochastic new open economy macroeconomics' model, which can potentially be used to explore the qualitative and quantitative welfare differences between alternative exchange rate regimes. A crucial feature is that we do not simplify by assuming certainty...

Persistent link: https://www.econbiz.de/10013232899

On the Desirability of Capital Controls

Heathcote, Jonathan - 2016

In a standard two country international macro model we ask whether imposing restrictions on international non-contingent borrowing and lending is ever desirable. The answer is yes. If one country imposes capital controls unilaterally, it can generate favorable changes in the dynamics of...

Persistent link: https://www.econbiz.de/10013001194