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Browsing Recerca: working papers, informes, etc. by Author "Galí, Jordi"

Browsing Recerca: working papers, informes, etc. by Author "Galí, Jordi"

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  • Billi, Roberto M.; Galí, Jordi (2018-12-01)
    We analyze the welfare impact of greater wage flexibility while taking into account explicitly the existence of the zero lower bound (ZLB) constraint on the nominal interest rate. We show that the ZLB constraint generally ...
  • Galí, Jordi; Gambetti, Luca (2020)
    The deep and prolonged recession triggered by the global financial crisis of 2007–2009 led to a large increase in the unemployment rate in most advanced economies. Ten years later, at the time of writing this paper, the ...
  • Debortoli, Davide; Galí, Jordi (2017-09-01)
    How does heterogeneity affect the effectiveness of monetary policy and the properties of economic fluctuations? Using the distinction between constrained and unconstrained households at each point in time, we identify three ...
  • Debortoli, Davide; Galí, Jordi; Gambetti, Luca (2018-01-02)
    We evaluate the hypothesis that the zero lower bound (ZLB) constraint was, in practice, irrelevant during the recent ZLB episode experienced by the U.S. economy (2009Q1-2015Q4). We focus on two dimensions of economic ...
  • Galí, Jordi (2017-05-02)
    Under uncovered interest parity (UIP), the size of the e¤ect on the real exchange rate of an anticipated change in real interest rate di¤erentials is invariant to the horizon at which the change is expected. Empirical ...

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