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Browsing Recerca: working papers, preprints, informes, etc. by Author "Baley, Isaac"

Browsing Recerca: working papers, preprints, informes, etc. by Author "Baley, Isaac"

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  • Aggregate dynamics in lumpy economies
    Baley, Isaac; Blanco, Andrés (2019-05-27)
    In economies with lumpy microeconomic adjustment, we establish structural relationships between the dynamics of the cross-sectional distribution of agents and its steady-state counterpart and discipline these relationships ...
  • Bayesian learning
    Baley, Isaac; Veldkamp, Laura (2021-07-16)
    We survey work using Bayesian learning in macroeconomics, highlighting common themes and new directions. First, we present many of the common types of learning problems agents face-signal extraction problems-and trace out ...
  • Information globalization
    Baley, Isaac; Veldkamp, Laura; Waugh, Michael (2016-03-01)
    Common wisdom dictates that uncertainty impedes trade we show that uncertainty can fuel more trade in a simple general equilibrium trade model with information frictions. In equilibrium, increases in uncertainty increase ...
  • Menu costs, uncertainty cycles, and the propagation of nominal shocks
    Baley, Isaac; Blanco, J. Andrés (2016-07-01)
    Nominal shocks have long-lasting effects on real economic activity, beyond those implied by standard models that target the average frequency of price adjustment in micro data. This paper develops a price-setting model ...
  • Mismatch cycles
    Baley, Isaac; Figueiredo, Ana; Ulbricht, Robert (2020-01-31)
    This paper studies the cyclical dynamics of skill mismatch and quantifies its impact on labor productivity. We build a tractable directed search model, in which workers differ in skills along multiple dimensions and sort ...
  • Returns to labor mobility. Layoff costs and quit turbulence
    Baley, Isaac; Ljungqvist, Lars; Sargent, Thomas J. (2021-07-06)
    Returns to labor mobility have too often escaped the attention they deserve as conduits of important forces in macro-labor models. These returns are shaped by calibrations of productivity processes that use theoretical ...
  • The long-run effects of corporate tax reforms
    Baley, Isaac; Blanco, Andrés (2022-01-13)
    We investigate the long-run effects of permanent corporate tax reforms on aggregate capital behavior. In an investment model with fixed adjustment costs and partial irreversibility, we show that corporate taxes and investment ...
  • Turbulence and unemployment in matching models
    Baley, Isaac; Ljungqvist, Lars; Sargent, Thomas J. (2018-01-31)
    Ljungqvist and Sargent (1998, 2008) show that worse skill transition probabilities for workers who suffer involuntary layoffs (i.e., increases in turbulence) generate higher unemployment in a welfare state. den Haan, Haefke ...

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