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Research literature 138 records found  beginprevious21 - 30nextend  jump to record: Search took 0.01 seconds. 
21.
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)  
Detailed record - Creative Commons
22.
34 p, 433.9 KB The fiscal theory of the price level in a world of low interest rates / Bassetto, Marco ; Cui, Wei 1970-
A central equation for the fiscal theory of the price level (FTPL) is the government budget constraint (or "government valuation equation"), which equates the real value of government debt to the present value of fiscal surpluses. [...]
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 ; 125)  
Detailed record - Creative Commons
23.
45 p, 732.7 KB Debt dilution and debt overhang / Jungherr, Joachim ; Schot, Immo
We introduce long-term debt (and a maturity choice) into a standard model of firm financing and investment. This allows us to study two distortions of investment: (1. ) Debt dilution distorts firms' choice of debt which has an indirect effect on investment; (2. [...]
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 ; 124)  
Detailed record - Creative Commons
24.
28 p, 526.8 KB Bank funding and risk taking / Ferrari, Alessandro ; Garcia Galindo, Carmen ; Petricek, Matic ; Winkler, Andreas
In this paper we use a novel approach to address issues of endogeneity in estimating a causal effect of leverage on risk taking by banks. Using data on local bank office deposits and local unemployment we construct an instrument to use in a regression of leverage on a measure of risk taking constructed from new issuance of loans. [...]
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 ; 123)  
Detailed record - Creative Commons
25.
36 p, 382.0 KB The effects of inflation target changes in an open economy with heterogeneous households / Adão, Bernardino (Banco de Portugal) ; Correia, Isabel (Banco de Portugal)
When discussing the level for the target inflation in a Monetary Union typically questions of efficacy of stabilization of monetary policy or conditions for the fulfilment of an optimal monetary currency are in the forefront. [...]
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 ; 122)  
Detailed record - Creative Commons
26.
31 p, 448.1 KB Introducing an Austrian backpack in Spain / Brogueira de Sousa, João ; Díaz-Saavedra, Julián ; Marimon, Ramon
In an overlapping generations economy with incomplete insurance markets, the introduction of an employment fund (akin to the one introduced in Austria in 2003, also known as 'Austrian backpack') can enhance production effciency and social welfare, if it complements, and in part substitutes, the two classical systems of public insurance: pay-as-you-go pensions and unemployment insurance (UI). [...]
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 ; 139)  
Detailed record - Creative Commons
27.
62 p, 928.3 KB Generalized compensation principle / Tsyvinski, Aleh ; Werquin, Nicolas
We generalize the classic concept of compensating variation and the welfare compensation principle to a general equilibrium environment with distortionary taxes. We derive in closed-form the solution to the problem of designing a tax reform that compensates the welfare gains and losses induced by an arbitrary economic disruption. [...]
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 ; 137)  
Detailed record - Creative Commons
28.
54 p, 870.8 KB Self-fulfilling crises and country solidarity / Marin, Emile-Alexandre
Sovereign risk premia reflect investors' beliefs for the equilibrium and off -equilibrium actions of international agents. This paper investigates the international dimension of self-fulfilling sovereign debt crises and characterizes self-interested bailouts (solidarity) and contagion. [...]
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 ; 136)  
Detailed record - Creative Commons
29.
51 p, 660.8 KB The fiscal multiplier / Hagedorn, Marcus ; Manovskii, Iourii ; Mitman, Kurt
We measure the size of the fiscal multiplier using a heterogeneous agents model with incomplete markets, capital and rigid prices and wages. This environment captures all elements that are considered essential for a quantitative analysis. [...]
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 ; 135)  
Detailed record - Creative Commons
30.
13 p, 195.7 KB A parliamentary assembly for the Eurozone? / Fromage, Diane
On 6 December 2017, the European Commission presented its policy package on 'Completing Europe's Economic and Monetary Union'. Some of the proposals it entails aim at improving the democratic accountability of the governance of the Eurozone. [...]
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 ; 134)  
Detailed record - Creative Commons

Research literature : 138 records found   beginprevious21 - 30nextend  jump to record:
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