Browsing Economics and Business Working Papers Series by Title

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Browsing Economics and Business Working Papers Series by Title

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  • Galí, Jordi (2009)
    Much recent research has focused on the development and analysis of extensions of the New Keynesian framework that model labor market frictions and unemployment explicitly. The present paper describes some of the essential ...
  • Freixas, Xavier (2009)
    This paper examines the monetary policy followed during the current financial crisis from the perspective of the theory of the lender of last resort. It is argued that standard monetary policy measures would have failed ...
  • Canova, Fabio; Favero, Carlo (2005)
    We examine monetary policy in the Euro area from both theoretical and empirical perspectives. We discuss what theory tells us the strategy of Central banks should be and contrasts it with the one employed by the ECB. We ...
  • Canova, Fabio; Pires Pina, Joaquim (1998)
    We examine the effects of extracting monetary policy disturbances with semi-structural and structural VARs, using data generated by a limited participation model under partial accommodative and feedback rules. We find ...
  • Clarida, Richard; Galí, Jordi; Gertler, Mark (1997)
    We estimate a forward-looking monetary policy reaction function for the postwar United States economy, before and after Volcker's appointment as Fed Chairman in 1979. Our results point to substantial differences in the ...
  • De Arcangelis, Giuseppe; Di Giorgio, Giorgio (1999)
    This paper provides updated empirical evidence about the real and nominal effects of monetary policy in Italy, by using structural VAR analysis. We discuss different empirical approaches that have been used in order ...
  • Nimark, Kristoffer (2008)
    Monetary policy is conducted in an environment of uncertainty. This paper sets up a model where the central bank uses real-time data from the bond market together with standard macroeconomic indicators to estimate the ...
  • Rodríguez, Hugo (1998)
    This paper studies the transaction cost savings of moving from a multi-currency exchange system to a single currency one. The analysis concentrates exclusively on the transaction and precautionary demand for money and ...
  • Marcet, Albert; Nicolini, Juan Pablo (2005)
    This paper studies the short run correlation of inflation and money growth. We study whether a model of learning can do better than a model of rational expectations, we focus our study on countries of high inflation. We ...
  • Gennaioli, Nicola; Shleifer, Andrei; Vishny, Robert (2012)
    We present a new model of money management, in which investors delegate portfolio management to professionals based not only on performance, but also on trust. Trust in the manager reduces an investor's perception of the ...
  • Jeon, Doh-Shin; Menicucci, Domenico (2005)
    The earning structure in science is known to be flat relative to the one in the private sector, which could cause a brain drain toward the private sector. In this paper, we assume that agents value both money and fame and ...
  • Epure, Mircea; Lafuente, Esteban (2012)
    This paper proposes a managerial control tool that integrates risk in efficiency scores. Building on existing efficiency specifications, our proposal reflects the real banking technology and accurately models the relationship ...
  • Cuxart, Anna; Longford, Nicholas T. (1997)
    The examinations taken by high-school graduates in Spain and the role of the examination in the university admissions process are described. The following issues arising in the assessment of the process are discussed: reliability ...
  • Urosevic, Branko (2001)
    In this paper, I analyze the ownership dynamics of N strategic risk-averse corporate insiders facing a moral hazard problem. A solution for the equilibrium share price and the dynamics of the aggregate insider stake is ...
  • Bisin, Alberto; Guaitoli, Danilo (1998)
    This paper studies equilibria for economies characterized by moral hazard (hidden action), in which the set of contracts marketed in equilibrium is determined by the interaction of financial intermediaries. The crucial ...
  • Segal, Carmit (2006)
    This paper argues that low-stakes test scores, available in surveys, may be partially determined by test-taking motivation, which is associated with personality traits but not with cognitive ability. Therefore, such test ...
  • Coronado, Javier; Jiménez-Martín, Sergi; Marín, Pedro L. (2007)
    We analyze the effect of multimarket contact on the pricing behavior of pharmaceutical firms controlling for different levels of regulatory constraints using the IMS MIDAS database for the industry. Theoretically, under ...

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