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The macroeconomics of specificity
Caballero, Ricardo J.; Hammour, Mohamad L. - 1996
Persistent link: https://www.econbiz.de/10000603989
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The macroeconomics of specificity
Caballero, Ricardo J. - In: Journal of political economy 106 (1998) 4, pp. 724-767
Persistent link: https://www.econbiz.de/10001247213
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The Macroeconomics of Specificity
Caballero, Ricardo J. - 1996
unemployment …
Persistent link: https://www.econbiz.de/10012473077
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The Macroeconomics of Specificity
Caballero, Ricardo J.; Hammour, Mohamad L. - 1998
Specific quasi rents arise in a variety of economic relationships and are exposed to opportunism unless fully protected by contract. Rent appropriation has important macroeconomic consequences. Resources are underutilized, factor markets are segmented, production suffers from technological...
Persistent link: https://www.econbiz.de/10014222768
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The Macroeconomics of Specificity
Caballero, Ricardo J.; Hammour, Mohamad L. - 2021
unemployment …
Persistent link: https://www.econbiz.de/10013237014
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The un-intended convergence : how the Finnish unemployment reached the European level
Koskela, Erkki; Uusitalo, Roope - 2003
The Finnish unemployment rose in the early 1990 s from three to eighteen percent in four years. Unemployment has then … this unforeseen increase in unemployment. We then discuss the role of labour market institutions in the adjustment process … that has brought unemployment back to normal levels. We argue that these institutions cannot be blamed for the increase in …
Persistent link: https://www.econbiz.de/10011506222
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Heterogeneity and output fluctuations in a dynamic menu-cost economy
Caballero, Ricardo J.; Engel, Eduardo - 1991
Persistent link: https://www.econbiz.de/10000817193
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Heterogeneity and output fluctuations in a dynamic menu-cost economy
Caballero, Ricardo J.; Engel, Eduardo - 1991
Persistent link: https://www.econbiz.de/10000817197
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Price Rigidities, Asymmetries, and Output Fluctuations
Caballero, Ricardo J. - 1992
In this paper we characterize the average response of output to aggregate demand shocks in an economy where individual firms follow state-dependent pricing rules. We find that: (i) the average response of output to aggregate demand shocks decreases with core inflation and varies...
Persistent link: https://www.econbiz.de/10012474884
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Heterogeneity and Output Fluctuations in a Dynamic Menu-Cost Economy
Caballero, Ricardo J. - 1991
When firms face menu costs, the relation between their output and money is highly nonlinear. At the aggregate level, however, this needs not be so. In this paper we study the dynamic behavior of a general equilibrium menu-cost economy where firms are heterogeneous in the shocks they perceive,...
Persistent link: https://www.econbiz.de/10012475276