Documents de recerca

Documents de recerca 99 registres trobats  inicianterior52 - 61següentfinal  anar al registre: La cerca s'ha fet en 0.00 segons. 
52.
50 p, 595.3 KB Downward wage rigidity and wage restraint / Wolf, Martin
The combination of downward nominal wage rigidity and pegged exchange rate creates an externality which leads to excessive wage inflation (Schmitt-Groh_e and Uribe, 2016). This paper re-examines this result assuming that wage setters are forward looking, hence endogenously restrain wage increases facing downward wage rigidity, as in Elsby (2009). [...]
The ADEMU Working Paper Series is being supported by the European Commission Horizon 2020 European Union funding for Research & Innovation, grant agreement No 649396.

2018 (ADEMU Working Paper Series ; 126)  
53.
38 p, 625.2 KB Sovereign defaults and banking crises / Sosa-Padilla, César
Episodes of sovereign default feature three key empirical regularities in connection with the banking systems of the countries where they occur: (i) sovereign defaults and banking crises tend to happen together, (ii) commercial banks have substantial holdings of government debt, and (iii) sovereign defaults result in major contractions in bank credit and production. [...]
The ADEMU Working Paper Series is being supported by the European Commission Horizon 2020 European Union funding for Research & Innovation, grant agreement No 649396.

2017 (ADEMU Working Paper Series ; 76)  
54.
53 p, 2.9 MB Official sector lending strategies during the euro area crisis / Corsetti, Giancarlo ; Erce, Aitor ; Uy, Timothy
In response to the euro area crisis, European policymakers took a gradual, incremental approach to official lending, at first relying on the approach followed by the International Monetary Fund, then developing their own crisis resolution framework. [...]
The ADEMU Working Paper Series is being supported by the European Commission Horizon 2020 European Union funding for Research & Innovation, grant agreement No 649396.

2017 (ADEMU Working Paper Series ; 70)  
55.
35 p, 1.2 MB Volatility during the financial crisis through the lens of high frequency data : a realized GARCH approach / Banulescu-Radu, Denisa ; Hansen, Peter Reinhard ; Huang, Zhuo ; Matei, Marius
We study financial volatility during the global financial crisis and use the largest volatility shocks to identify major events during the crisis. Our analysis makes extensive use of high frequency (HF) financial data to model volatility and, importantly, to determine the timing within the day when the largest volatility shocks occurred. [...]
The ADEMU Working Paper Series is being supported by the European Commission Horizon 2020 European Union funding for Research & Innovation, grant agreement No 649396.

2017 (ADEMU Working Paper Series ; 63)  
56.
79 p, 744.9 KB Sovereign debt and structural reforms / Müller, Andreas ; Storesletten, Kjetil ; Zilibotti, Fabrizio
We construct a dynamic theory of sovereign debt and structural reforms with three interacting frictions: limited enforcement, limited commitment, and incomplete markets. A sovereign country in recession issues debt to smooth consumption and makes reforms to speed up recovery. [...]
The ADEMU Working Paper Series is being supported by the European Commission Horizon 2020 European Union funding for Research & Innovation, grant agreement No 649396.

2016 (ADEMU Working Paper Series ; 56)  
57.
21 p, 274.8 KB A journey down the slippery slope to the European crisis : a theorist's guide / Chari, V. V. ; Dovis, Alessandro ; Kehoe, Patrick J.
We offer a theoretically based narrative that attempts to account both for the formation of the European Monetary Union and the callenges it has faced. Lack of commitment to policy plays a central role in this narrative.
The ADEMU Working Paper Series is being supported by the European Commission Horizon 2020 European Union funding for Research & Innovation, grant agreement No 649396.

2017 (ADEMU Working Paper Series ; 54)  
58.
37 p, 1023.5 KB Time-consistent fiscal policy in a debt crisis / Balke, Neele L. ; Ravn, Morten O.
We analyze time-consistent fiscal policy in a sovereign debt model. We consider a production economy that incorporates feedback from policy to output through employment, features inequality though unemployment, and in which the government lacks a commitment technology. [...]
The ADEMU Working Paper Series is being supported by the European Commission Horizon 2020 European Union funding for Research & Innovation, grant agreement No 649396.

2016 (ADEMU Working Paper Series ; 49)  
59.
57 p, 736.6 KB Exit expectations and debt crises in currency unions? / Kriwoluzky, Alexander ; Müller, Gernot J. ; Wolf, Martin
Membership in a currency union is not irreversible. Exit expectations may emerge during sovereign debt crises, because exit allows countries to reduce their liabilities through a currency redenomination. [...]
2016 (Ademu Working Papers Series ; 5)  
60.
45 p, 288.3 KB Regime-dependent sovereign risk pricing during the Euro Crisis / Delatte, Anne-Laure ; Fouquau, Julien ; Portes, Richard
Previous work has documented a greater sensitivity of long-term government bond yields to fundamentals in Euro area peripheral countries during the euro crisis, but we know little about the driver(s) of regime switches. [...]
The ADEMU Working Paper Series is being supported by the European Commission Horizon 2020 European Union funding for Research & Innovation, grant agreement No 649396.

2016 (ADEMU Working Paper Series ; 32)  
61.
49 p, 1.1 MB Breaking the spell with credit-easing : self-confirming credit crises in competitive search economies / Gaballo, Gaetano ; Marimon, Ramon
We show that credit crises can be Self-Confirming Equilibria (SCE), which provides a new rationale for policy interventions like, for example, the FRB's TALF credit-easing program in 2009. We introduce SCE in competitive credit markets with directed search. [...]
2016 (Ademus Working Paper Series ; 1)  

Documents de recerca : 99 registres trobats   inicianterior52 - 61següentfinal  anar al registre:
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