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Equilibrium unemployment, job flows and inflation dynamics

Trigari, Antonella - 2004

general equilibrium model that integrates a theory of equilibrium unemployment into a monetary model with nominal price … worker, job creation and job destruction conditional on a shock to monetary policy. Moreover, allowing for variation of the … helps to explain the sluggishness of inflation and the persistence of output after a monetary policy shock. The ability of …

Persistent link: https://www.econbiz.de/10009636527

Indeterminacy and search theory

Giammarioli, Nicola - 2003

This paper investigates a dynamic general equilibrium model with search. In particular, search externalities are reßected by an increasing returns to scale matching function, which may imply an indeterminate equilibrium. Hence, the model is capable to generate business ßuctuations, driven by...

Persistent link: https://www.econbiz.de/10009635902

The great inflation, limited asset markets participation and aggregate demand

Bilbiie, Florin O. - 2004

When enough agents do not participate in asset markets, the slope of the aggregate demand curve is reversed. Monetary policy should be passive, to ensure equilibrium determinacy and to minimize variations in output and inflation. This paper presents evidence that asset markets participation in...

Persistent link: https://www.econbiz.de/10009639468

Finance and diversification

Manganelli, Simone; Popov, Alexander - 2010

faster for sectors that have a higher "natural" long-term risk-adjusted growth and which exhibit higher information frictions …

Persistent link: https://www.econbiz.de/10009640281

Trusting the bankers

Ciccarelli, Matteo; Maddaloni, Angela; Peydró, José-Luis - 2010

monetary policy shock on GDP and inflation; (3) for business loans, the impact through the (supply) bank lending channel is …

Persistent link: https://www.econbiz.de/10009640312

Credit supply

Jiménez, Gabriel; Ongena, Steven; Peydró, José-Luis; … - 2010

To identify credit availability we analyze the extensive and intensive margins of lending with loan applications and all loans granted in Spain. We find that during the period analyzed both worse economic and tighter monetary conditions reduce loan granting, especially to firms or from banks...

Persistent link: https://www.econbiz.de/10009640362

Corporate bond spreads and real activity in the euro area

Buchmann, Marco - 2011

valuable predictors for real activity, in particular at forecast horizons beyond one year; Medium risk bond spreads with …

Persistent link: https://www.econbiz.de/10009640612

Business cycle synchronisation

Dées, Stéphane; Zorell, Nico - 2011

Drawing on a large sample of countries, this paper explores whether closer economic ties between countries foster business cycle synchronisation and disentangles the role of the various channels, including trade and financial linkages as well as the similarity in sectoral specialisation....

Persistent link: https://www.econbiz.de/10009640698

Theoretical notes on bubbles and the current crisis

Martin, Alberto; Ventura, Jaume - 2011

We explore a view of the crisis as a shock to investor sentiment that led to the collapse of a bubble or pyramid scheme …

Persistent link: https://www.econbiz.de/10009640837

Downward nominal wage rigidity and the long-run Philips Curve

Coenen, Günter - 2003

This paper summarises the results of a quantitative study of the possible impact of downward nominal wage rigidity on the determination of inflation and output in the euro area and the existence of a non-vertical long-run Phillips curve. The study was undertaken in the context of the review of...

Persistent link: https://www.econbiz.de/10009635901