Resultats globals: 112 registres trobats en 0.03 segons.
Documents de recerca, 112 registres trobats
Documents de recerca 112 registres trobats  1 - 10següentfinal  anar al registre:
1.
61 p, 788.1 KB On the design of a European unemployment insurance system / Ábrahám, Árpád ; Brogueira de Sousa, João ; Marimon, Ramon ; Mayr, Lukas
We assess the benefits of a potential European Unemployment Insurance System (EUIS) using a multi-country dynamic general equilibrium model with labour market frictions. Our calibration provides a novel diagnosis of the European labour markets, revealing the key parameters – in particular, job-separation and job-finding rates – that explain their different performance in terms of unemployment (or employment) and its persistence. [...]
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 ; 106)  
2.
42 p, 604.9 KB Leverage bounds with default and asymmetric information / Bohácek, Radim
This paper analyzes productivity and welfare losses from capital misallocation in a general equilibrium model of occupational choice and financial intermediation. It studies the effects of risk sharing with default and imperfect monitoring on the optimal allocation of resources and derives endogenous leverage bounds. [...]
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 ; 60)  
3.
29 p, 530.6 KB Optimal government policies in models with heterogeneous agents / Bohácek, Radim ; Kejak, Michal
In this paper we develop a new approach for funding optimal government policies in economies with heterogeneous agents. Using the calculus of variations, we present three classes of equilibrium conditions from government's and individual agent's optimization problems: 1) the first order conditions: the government's Lagrange-Euler equation and the individual agent's Euler equation; 2) the stationarity condition on the distribution function; and, 3) the aggregate market clearing conditions. [...]
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 ; 130)  
4.
41 p, 442.3 KB Which ladder to climb? : wages of workers by job, plant, and education / Bayer, Christian ; Kuhn, Moritz
How much does your wage depend on what you learned, for whom you work, or what job you do? Using largely unexplored administrative data from Germany allows us to relate 80% of wage variation to observable characteristics of jobs, firms, and workers. [...]
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 ; 129)  
5.
45 p, 963.0 KB The maturity structure of sovereign debts within a solidarity zone / Soyres, Constance de
This paper characterizes the optimal bailout maturity structure for a sovereign on the verge of a default. I find that buying back long-term debt is strictly optimal when it can prevent a default today and in the future. [...]
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 ; 127)  
6.
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)  
7.
34 p, 433.9 KB The fiscal theory of the price level in a world of low interest rates / Bassetto, Marco ; Cui, Wei
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)  
8.
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)  
9.
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)  
10.
36 p, 382.0 KB The effects of inflation target changes in an open economy with heterogeneous households / Adão, Bernardino ; Correia, Isabel
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)  

Documents de recerca : 112 registres trobats   1 - 10següentfinal  anar al registre:
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