Przeglądaj według tematu "E24"
Wyświetlanie pozycji 1-5 z 5
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Price-wage system with taxation: multivariate cointegration analysis
(2006)The paper investigates the price system and the wage equation in the presence of taxes. Price formation is analysed at three levels: producer’s prices, trade in consumer goods and, separately, in services, and at the ... -
A Theory of The Procyclical Effectiveness of Forward Guidance
(2022-12)I study the dependence of the forward guidance effectiveness on the level of economic slack. I use the model with price rigidities and uninsured unemployment risk and apply both analytical and numerical methods to study ... -
Labor market institutions and the business cycle: The role of unemployment fears
(2023-12)We study the effects of labor market institutions (LMIs) in a general equilibrium model with search and matching frictions, endogenous separations, nominal rigidities, and uninsurable unemployment risk. By contrasting the ... -
Beliefs That Move the Economy: Shocks to Firms’ and Households’ Inflation Expectations
(2026-02)This paper examines shocks to inflation expectations and argues that distinguishing between households’ and firms’ expectations is crucial for understanding their macroeconomic role. First, using an analytical example, I ... -
The redistributive power of business cycle fluctuations
(2026-02)How do business cycles redistribute between generations, what are the redistribution channels and what role is played by monetary policy? We construct a New-Keynesian life-cycle model and estimate it for the United States. ...
