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Nominal rigidities in debt and product markets

Garriga, Carlos; Kydland, Finn E.; Šustek, Roman - 2016

Standard models used for monetary policy analysis rely on sticky prices. Recently, the literature started to explore also nominal debt contracts. Focusing on mortgages, this paper compares the two channels of transmission within a common framework. The sticky price channel is dominant when...

Persistent link: https://www.econbiz.de/10011539811

Nominal rigidities in debt and product markets

Garriga, Carlos; Kydland, Finn E.; Šustek, Roman - 2016

Persistent link: https://www.econbiz.de/10011524379

Mortgages and monetary policy

Garriga, Carlos; Kydland, Finn E.; Šustek, Roman - 2015

Mortgages are prime examples of long-term nominal loans. As a result, under incomplete asset markets, monetary policy can affect household decisions through the cost of new mortgage borrowing and the value of payments on outstanding debt. These channels are distinct from the transmission through...

Persistent link: https://www.econbiz.de/10011306278

Global oil price swings : has their effect on Malta changed over time?

Ruisi, Germano - 2023

international to domestic energy prices decreases from 1% to virtually zero in response to a shock rising real oil prices by 10 …

Persistent link: https://www.econbiz.de/10014380679

An anatomy of external shocks in the Andean region

Carrillo-Maldonado, Paul; Díaz Cassou, Javier - 2019

the effects of the shocks, which we attribute to differences in the shock-absorbing capacity of their macroeconomic …

Persistent link: https://www.econbiz.de/10012117480

Business cycle persistence in developing countries : how successful is a DSGE model with a vertical production chain and sticky prices?

Male, Rachel - 2010

It is well documented that business cycles of developed countries are characterised by persistent output fluctuations, and this has been the subject of much theoretical interest. However, the case for developing countries has been somewhat neglected in the literature. This paper addresses this...

Persistent link: https://www.econbiz.de/10008665125

Developing country business cycles : revisiting the stylised facts

Male, Rachel - 2010

Identifying business cycle stylised facts is essential as these often form the basis for the construction and validation of theoretical business cycle models. Furthermore, understanding the cyclical patterns in economic activity, and their causes, is important to the decisions of both...

Persistent link: https://www.econbiz.de/10003990420

Customer capital, markup cyclicality, and amplification

Hong, Sungki - 2017

This paper studies the importance of firm-level price markup dynamics for business cycle fluctuations. Using state-of-the-art IO techniques to measure the behavior of markups over the business cycle at the firm level, I find that markups are countercyclical with an average elasticity of -1.1...

Persistent link: https://www.econbiz.de/10011782627

Common and country specific economic uncertainty

Mumtaz, Haroon; Theodoridis, Konstantinos - 2015

We use a factor model with stochastic volatility to decompose the time-varying variance of Macro economic and Financial variables into contributions from country-specific uncertainty and uncertainty common to all countries. We find that the common component plays an important role in driving the...

Persistent link: https://www.econbiz.de/10011306276

A new look at uncertainty shocks : imperfect information and misallocation

Senga, Tatsuro - 2015

experiences a shock forcing it to start learning afresh. Firms differ in their information; more informed firms have lower … posterior variances in beliefs. An uncertainty shock is a rise in the probability that any given firm will lose its information … a prolonged recession followed by anemic recovery in response to an uncertainty shock. When confronted with a rise in …

Persistent link: https://www.econbiz.de/10011401309