Excessive heat and cold weather waves may affect economic activity through energy markets. Yet, if a clear distinction of those events from other sources of variation in the economy would help central banks in stabilizing inflation is a research question that lacks theoretical and empirical...

We develop a monetary open economy model characterized by a highly detailed labor market structure and fiscal sector. By introducing a distinction between the wage negotiated by newly hired workers and incumbents, we evaluate the efficacy of two labor market targeted fiscal policies, a hiring...

The direct public funding of R&D investment to stimulate technological innovation has a strong theoretical case and has gained renewed attention in the recent policy debate as a way to address the long-term challenges of modern society such as pandemics, climate change, and the transition to a...