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Vincent Sterk

Citations

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Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Wei Cui & Vincent Sterk, 2018. "Quantitative Easing," Discussion Papers 1830, Centre for Macroeconomics (CFM).

    Mentioned in:

    1. Quantitative Easing
      by Christian Zimmermann in NEP-DGE blog on 2018-12-06 18:55:43
  2. Wouter J. Den Haan & Vincent Sterk, 2011. "The Myth of Financial Innovation and the Great Moderation," Economic Journal, Royal Economic Society, vol. 121(553), pages 707-739, June.

    Mentioned in:

    1. "The Elevated Position of the Financial Sector"
      by Mark Thoma in Economist's View on 2011-10-27 12:24:00
    2. "The Elevated Position of the Financial Sector"
      by Economists View in FavStocks on 2011-10-28 15:02:14

Working papers

  1. Davide Melcangi & Vincent Sterk, 2020. "Stock Market Participation, Inequality, and Monetary Policy," Staff Reports 932, Federal Reserve Bank of New York.

    Cited by:

    1. Sebastian Doerr & Thomas Drechsel & Donggyu Lee, 2022. "Income Inequality and Job Creation," Staff Reports 1021, Federal Reserve Bank of New York.
    2. Juan M. Morelli, 2021. "Limited Participation in Equity Markets and Business Cycles," Finance and Economics Discussion Series 2021-026, Board of Governors of the Federal Reserve System (U.S.).
    3. Matusche, Alexander & Wacks, Johannes, 2023. "Does wealth inequality affect the transmission of monetary policy?," Journal of Macroeconomics, Elsevier, vol. 75(C).
    4. Naubert, Christopher, 2019. "Monetary Policy and Redistribution: A Look under the Hatch with TANK," CEPR Discussion Papers 14159, C.E.P.R. Discussion Papers.
    5. Hetzel, Robert, 2020. "COVID-19 and the Fed’s Monetary Policy," Working Papers 10839, George Mason University, Mercatus Center.
    6. Rohan Kekre & Moritz Lenel, 2022. "Monetary Policy, Redistribution, and Risk Premia," Econometrica, Econometric Society, vol. 90(5), pages 2249-2282, September.
    7. Sebastian Doerr & Thomas Drechsel & Donggyu Lee, 2021. "Income inequality, financial intermediation, and small firms," BIS Working Papers 944, Bank for International Settlements.
    8. Gaudio, Francesco Saverio, 2025. "Stock market participation and macro-financial trends," Journal of Monetary Economics, Elsevier, vol. 156(C).
    9. Li, Mingzhe, 2025. "A Theory of Portfolio Choice for Heterogeneous Investors," MPRA Paper 126642, University Library of Munich, Germany, revised 29 Oct 2025.

  2. Wei Cui & Vincent Sterk, 2018. "Quantitative Easing," Discussion Papers 1830, Centre for Macroeconomics (CFM).

    Cited by:

    1. Sleibi, Yacoub & Casalin, Fabrizio & Fazio, Giorgio, 2023. "Unconventional monetary policies and credit co-movement in the Eurozone," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 85(C).
    2. Bilbiie, Florin O. & Monacelli, Tommaso & Perotti, Roberto, 2024. "Stabilization vs. Redistribution: The optimal monetary–fiscal mix," Journal of Monetary Economics, Elsevier, vol. 147(S).
    3. Dhital, Saroj & Gomis-Porqueras, Pedro & Haslag, Joseph H., 2021. "Monetary and fiscal policy interactions in a frictional model of fiat money, nominal public debt and banking," European Economic Review, Elsevier, vol. 139(C).
    4. Hauzenberger, Niko & Pfarrhofer, Michael & Stelzer, Anna, 2021. "On the effectiveness of the European Central Bank’s conventional and unconventional policies under uncertainty," Journal of Economic Behavior & Organization, Elsevier, vol. 191(C), pages 822-845.

  3. Benjamin W. Pugsley & Petr Sedlacek & Vincent Sterk, 2017. "The Nature of Firm Growth," Discussion Papers 1737, Centre for Macroeconomics (CFM).

    Cited by:

    1. Wellschmied, Felix & Yurdagul, Emircan, 2019. "Endogenous Hours and the Wealth of Entrepreneurs," IZA Discussion Papers 12802, IZA Network @ LISER.
    2. Phares, Jonathan & Miller, Jason W. & Burks, Stephen V., 2023. "State-Level Trucking Employment and the COVID-19 Pandemic in the U.S: Understanding Heterogenous Declines and Rebounds," IZA Discussion Papers 16265, IZA Network @ LISER.
    3. Xuanli Zhu, 2025. "Establishment dynamics in post-war Japan: missing entry and shrinking size," The Japanese Economic Review, Springer, vol. 76(2), pages 337-374, April.
    4. Delmar, Frédéric & Wallin, Jonas & Nofal, Ahmed Maged, 2022. "Modeling new-firm growth and survival with panel data using event magnitude regression," Journal of Business Venturing, Elsevier, vol. 37(5).
    5. Joonkyu Choi & Nathan Goldschlag & John Haltiwanger & J. Daniel Kim, 2019. "Founding Teams and Startup Performance," Working Papers 19-32, Center for Economic Studies, U.S. Census Bureau.
    6. Zachary Mahone, 2023. "Business Ownership and the Secondary Market," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 51, pages 1114-1158, December.
    7. Adela Luque & Vitaliy Novik, 2024. "Garage Entrepreneurs or just Self-Employed? An Investigation into Nonemployer Entrepreneurship," Working Papers 24-61, Center for Economic Studies, U.S. Census Bureau.
    8. Jangho Yang & Brian Cozzarin & Torsten Heinrich, 2025. "Productivity dispersion and firm growth in Canada," Journal of Evolutionary Economics, Springer, vol. 35(1), pages 35-70, January.
    9. Cavallari, Lilia & Romano, Simone & Naticchioni, Paolo, 2021. "The original sin: Firms’ dynamics and the life-cycle consequences of economic conditions at birth," European Economic Review, Elsevier, vol. 138(C).
    10. Christian Osterhold, 2018. "Fear the walking dead: zombie firms, spillovers and exit barriers," Working Papers w201811, Banco de Portugal, Economics and Research Department.
    11. Jose Asturias & Emin Dinlersoz & John Haltiwanger & Rebecca Hutchinson & Alyson Plumb, 2021. "Business Applications as a Leading Economic Indicator?," Working Papers 21-09, Center for Economic Studies, U.S. Census Bureau.
    12. Liu, Andrew Yizhou, 2025. "Trade secrets protection and employment of public firms: Evidence from the Uniform Trade Secrets Act," Research Policy, Elsevier, vol. 54(6).
    13. Stolbov, Mikhail & Shchepeleva, Maria, 2020. "Systemic risk, economic policy uncertainty and firm bankruptcies: Evidence from multivariate causal inference," Research in International Business and Finance, Elsevier, vol. 52(C).
    14. Wenhan Liu & Chunzhi Li, 2025. "Does Distance Matter? City Shape and Productivity," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 74(3), pages 1-32, September.
    15. Ramy El-Dardiry & Benedikt Vogt, 2022. "How far Do gazelles run? Growth Patterns of Regular Firms, High Growth Firms and Startups," CPB Discussion Paper 432, CPB Netherlands Bureau for Economic Policy Analysis.
    16. Andrea Colciago & Marco Membretti, 2024. "Barriers to Entry and the Labor Market," DEM Working Papers Series 222, University of Pavia, Department of Economics and Management.
    17. Masashige Hamano & Toshihiro Okubo, 2023. "The Macroeconomic Dynamics of Generations of Firms," Working Papers 2307, Waseda University, Faculty of Political Science and Economics.
    18. Ufuk Akcigit & Sina T. Ates, 2019. "What Happened to U.S. Business Dynamism?," NBER Working Papers 25756, National Bureau of Economic Research, Inc.
    19. Christoph Albert & Andrea Caggese, 2019. "Cyclical Fluctuations, Financial Shocks, and the Entry of Fast-Growing Entrepreneurial Startups," Working Papers 1067, Barcelona School of Economics.
    20. Shyngys Karimov & Jozef Konings, 2021. "How lockdown causes a missing generation of start-ups and jobs," International Economics and Economic Policy, Springer, vol. 18(3), pages 457-473, July.
    21. Shai Bernstein & Emanuele Colonnelli & Davide Malacrino & Timothy McQuade, 2018. "Who Creates New Firms When Local Opportunities Arise?," NBER Working Papers 25112, National Bureau of Economic Research, Inc.
    22. Emin Dinlersoz & Yueyuan Ma, 2026. "Expectations versus Reality in Business Formation," Working Papers 26-11, Center for Economic Studies, U.S. Census Bureau.
    23. Ufuk Akcigit & Emin Dinlersoz & Jeremy Greenwood & Veronika Penciakova, 2019. "Synergizing Ventures," Economie d'Avant Garde Research Reports 30, Economie d'Avant Garde.
    24. Christoph Albert & Andrea Caggese & Beatriz González, 2020. "The short- and long-run employment impact of Covid-19 through the effects of real and financial shocks on new firms," Economics Working Papers 1739, Department of Economics and Business, Universitat Pompeu Fabra.
    25. Smirnyagin, Vladimir, 2023. "Returns to scale, firm entry, and the business cycle," Journal of Monetary Economics, Elsevier, vol. 134(C), pages 118-134.
    26. Sebastian Doerr & Thomas Drechsel & Donggyu Lee, 2022. "Income Inequality and Job Creation," Staff Reports 1021, Federal Reserve Bank of New York.
    27. Masashige HAMANO & Toshihiro OKUBO, 2021. "In Search of Lost Time: Firm Vintage and Macroeconomic Dynamics," Discussion papers 21015, Research Institute of Economy, Trade and Industry (RIETI).
    28. Yoshiki Ando, 2024. "Dynamics of High-Growth Young Firms and the Role of Venture Capitalists," PIER Working Paper Archive 24-012, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
    29. Liu, Yang, 2024. "Firm age, size, and firm-level job creation and destruction," Structural Change and Economic Dynamics, Elsevier, vol. 70(C), pages 471-480.
    30. da Fonseca, João Galindo & Pannella, Pierluca, 2023. "The housing boom and selection into entrepreneurship," Labour Economics, Elsevier, vol. 85(C).
    31. Ferreira, M. & Haber, T. & Rörig, C., 2021. "Financial Factors, Firm size and Firm Potential," Cambridge Working Papers in Economics 2176, Faculty of Economics, University of Cambridge.
    32. Hoshi, Takeo & Kodama, Naomi & Li, Huiyu, 2025. "The effect of aging on entrepreneurship and aggregate productivity," The Journal of the Economics of Ageing, Elsevier, vol. 32(C).
    33. David Baqaee & Emmanuel Farhi & Kunal Sangani, 2020. "The Darwinian Returns to Scale," NBER Working Papers 27139, National Bureau of Economic Research, Inc.
    34. Sohail, Faisal, 2021. "From employee to entrepreneur: Learning, employer size, and spinout dynamics," Journal of Economic Dynamics and Control, Elsevier, vol. 133(C).
    35. Sebastian Doerr, 2019. "Unintended side effects: stress tests, entrepreneurship, and innovation," BIS Working Papers 823, Bank for International Settlements.
    36. Miller, Jason W. & Phares, Jonathan & Burks, Stephen V., 2023. "Job Creation and Job Destruction Dynamics in the U.S. Truck Transportation Industry, 1995-2019," IZA Discussion Papers 16184, IZA Network @ LISER.
    37. Filippo Scoccianti & Enrico Sette, 2024. "Regional Heterogeneity in Firm Dynamics: The Case of Italy," Italian Economic Journal: A Continuation of Rivista Italiana degli Economisti and Giornale degli Economisti, Springer;Società Italiana degli Economisti (Italian Economic Association), vol. 10(3), pages 977-992, November.
    38. Tang, Le, 2022. "The dynamic demand for capital and labor: Evidence from Chinese industrial firms," Economic Modelling, Elsevier, vol. 107(C).
    39. Lily Davies & Mark Kattenberg & Benedikt Vogt, 2023. "Predicting Firm Exits with Machine Learning: Implications for Selection into COVID-19 Support and Productivity Growth," CPB Discussion Paper 444, CPB Netherlands Bureau for Economic Policy Analysis.
    40. Ia Vardishvili, 2023. "Entry Decision, the Option to Delay Entry, and Business Cycles," Auburn Economics Working Paper Series auwp2023-04, Department of Economics, Auburn University.
    41. Andrea Colciago & Vivien Lewis & Branka Matyska, 2023. "Corporate taxes, productivity, and business dynamism," Working Papers 512, University of Milano-Bicocca, Department of Economics, revised May 2023.
    42. Engelberg, Joseph E. & Guzman, Jorge & Lu, Runjing & Mullins, William, 2021. "Partisan Entrepreneurship," SocArXiv qhs6j, Center for Open Science.
    43. Simon C. Parker & Thomas Åstebro & David B Audretsch & Robert Blackburn & Andrew Burke & Alex Coad & Marc Cowling & Per Davidsson & Michael Fritsch & Francis Greene & Paul D. Reynolds & Roy Thurik, 2024. "“Remembering David J Storey, a pioneer of the entrepreneurship field”," Small Business Economics, Springer, vol. 62(1), pages 1-21, January.
    44. Diego A. Cerdeiro & Cian Ruane, 2024. "China's declining business dynamism," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 57(3), pages 726-752, August.
    45. Miguel Ferreira & Timo Haber & Christian Rorig, 2023. "Financial Constraints and Firm Size: Micro-Evidence and Aggregate Implications," Working Papers 777, DNB.
    46. Yali Yi & Pelin Demirel, 2023. "The impact of sustainability‐oriented dynamic capabilities on firm growth: Investigating the green supply chain management and green political capabilities," Business Strategy and the Environment, Wiley Blackwell, vol. 32(8), pages 5873-5888, December.
    47. Joseph Hickey, 2023. "Simple model of market share dynamics based on clients' firm-switching decisions," Papers 2304.08727, arXiv.org, revised Nov 2023.
    48. Ari Hyytinen & Petri Rouvinen & Mika Pajarinen & Joosua Virtanen, 2023. "Ex Ante Predictability of Rapid Growth: A Design Science Approach," Entrepreneurship Theory and Practice, , vol. 47(6), pages 2465-2493, November.
    49. Timothy E. Dore & Tetsuji Okazaki & Ken Onishi & Naoki Wakamori, 2025. "Firm growth and financial constraints: evidence from a policy-based loan program," Small Business Economics, Springer, vol. 65(1), pages 131-162, June.
    50. Salomé Baslandze, 2022. "Entrepreneurship through Employee Mobility, Innovation, and Growth," FRB Atlanta Working Paper 2022-10, Federal Reserve Bank of Atlanta.
    51. Zifeng Feng & Zhonghua Wu, 2022. "Local Economy, Asset Location and REIT Firm Growth," The Journal of Real Estate Finance and Economics, Springer, vol. 65(1), pages 75-102, July.
    52. John C. Haltiwanger, 2021. "Entrepreneurship During the COVID-19 Pandemic: Evidence from the Business Formation Statistics," NBER Working Papers 28912, National Bureau of Economic Research, Inc.
    53. Melcangi, Davide & Turen, Javier, 2023. "Subsidizing startups under imperfect information," Journal of Monetary Economics, Elsevier, vol. 139(C), pages 93-109.
    54. Gerald Carlino & Thorsten Drautzburg, 2020. "The role of startups for local labor markets," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 35(6), pages 751-775, September.
    55. Jesus Fernandez-Villaverde & Lee Ohanian, 2018. "The Lack of European Productivity Growth: Causes and Lessons for the U.S," PIER Working Paper Archive 18-024, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 07 Sep 2018.
    56. Colciago, Andrea & Silvestrini, Riccardo, 2022. "Monetary policy, productivity, and market concentration," European Economic Review, Elsevier, vol. 142(C).
    57. Perla, Jesse & Pflueger, Carolin & Szkup, Michal, 2024. "Commitment and investment distortions under limited liability," Journal of Economic Theory, Elsevier, vol. 222(C).
    58. Hickey, Joseph, 2024. "Simple model of market share dynamics based on clients’ firm-switching decisions," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 635(C).
    59. Morina, Drini & Lucas, Henning & Heiden, Stefanie, 2025. "Unraveling the impact of R&D investment on corporate growth: Empirical insights on intensity- and growth rate-based differences," Finance Research Letters, Elsevier, vol. 74(C).
    60. Stefan Schneck, 2020. "Times are a Changin’? The Emergence of New Firms and Rank Reshuffling," Journal of Industry, Competition and Trade, Springer, vol. 20(1), pages 1-33, March.
    61. Xing Guo & Alistair Macaulay & Wenting Song, 2024. "The (Mis)Allocation of Corporate News," Staff Working Papers 24-47, Bank of Canada.

  4. Vincent Sterk & Silvana Tenreyro, 2016. "The Transmission of Monetary Policy through Redistributions and Durable Purchases," Working Papers 1601, Council on Economic Policies.

    Cited by:

    1. Krustev, Georgi & Casalis, André, 2020. "Cyclical drivers of euro area consumption: what can we learn from durable goods?," Working Paper Series 2386, European Central Bank.
    2. Xavier Ragot, 2023. "Optimal Monetary Policy in a Liquidity Trap with Heterogeneous Agents," Post-Print halshs-03922385, HAL.
    3. Greg Kaplan & Benjamin Moll & Giovanni L. Violante, 2016. "Monetary Policy According to HANK," Working Papers 1602, Council on Economic Policies.
    4. Gaballo, Gaetano & Mengus, Eric, 2023. "Myopic fiscal objectives and long-Run monetary efficiency," Journal of Monetary Economics, Elsevier, vol. 136(C), pages 1-17.
    5. Chiara Punzo & Lorenza Rossi, 2019. "The Redistributive Effects of a Money-Financed Fiscal Stimulus," DEM Working Papers Series 168, University of Pavia, Department of Economics and Management.
    6. Adrien Auclert, 2017. "Monetary Policy and the Redistribution Channel," NBER Working Papers 23451, National Bureau of Economic Research, Inc.
    7. Born, Benjamin & Bayer, Christian & Luetticke, Ralph, 2020. "The Liquidity Channel of Fiscal Policy," CEPR Discussion Papers 14883, C.E.P.R. Discussion Papers.
    8. Cumming, Fergus & Hubert, Paul, 2022. "House prices, the distribution of household debt and the refinancing channel of monetary policy," Economics Letters, Elsevier, vol. 212(C).
    9. Christian Bayer & Benjamin Born & Ralph Luetticke, 2020. "Shocks, Frictions, and Inequality in US Business Cycles," CESifo Working Paper Series 8085, CESifo.
    10. Koeniger, Winfried & Ramelet, Marc-Antoine, 2018. "Home ownership and monetary policy transmission," CFS Working Paper Series 615, Center for Financial Studies (CFS).
    11. Carlos Garriga & Finn E. Kydland & Roman Šustek, 2016. "Nominal rigidities in debt and product markets," Working Papers 2016-17, Federal Reserve Bank of St. Louis.
    12. Hagedorn, Marcus, 2016. "A Demand Theory of the Price Level," CEPR Discussion Papers 11364, C.E.P.R. Discussion Papers.
    13. Carlos Garriga & Finn E. Kydland & Roman Šustek, 2019. "MoNK: Mortgages in a New-Keynesian Model," Working Papers 2019-32, Federal Reserve Bank of St. Louis.
    14. Vincent Sterk & Wei Cui, 2019. "Quantitative Easing," 2019 Meeting Papers 29, Society for Economic Dynamics.
    15. Schasfoort, Joeri & Godin, Antoine & Bezemer, Dirk & Caiani, Alessandro & Kinsella, Stephen, 2017. "Monetary Policy Transmission in a Macroeconomic Agent-Based Model," Research Report 17010-GEM, University of Groningen, Research Institute SOM (Systems, Organisations and Management).
    16. Hakan Yilmazkuday, 2021. "Unequal Unemployment Effects of COVID-19 and Monetary Policy across U.S. States," Working Papers 2102, Florida International University, Department of Economics.
    17. Benjamin Pugsley & Hannah Rubinton, 2019. "Inequality in the Welfare Costs of Disinflation," Working Papers 2020-021, Federal Reserve Bank of St. Louis, revised 23 Sep 2021.
    18. Florin Bilbiie & Xavier Ragot, 2017. "Optimal Monetary Policy and Liquidity with Heterogeneous Households," Working Papers hal-03471839, HAL.
    19. Alessandro Cantelmo & Giovanni Melina, 2020. "Sectoral Labor Mobility and Optimal Monetary Policy," Papers 2010.14668, arXiv.org, revised Nov 2020.
    20. José Alves & Tomás Silva, 2020. "An Empirical Assessment of Monetary Policy Channels on Income and Wealth Disparities," Working Papers REM 2020/0144, ISEG - Lisbon School of Economics and Management, REM, Universidade de Lisboa.
    21. Takemasa Oda, 2024. "A Quantitative Assessment of the Impact of Deflation in an Aging Economy," IMES Discussion Paper Series 24-E-14, Institute for Monetary and Economic Studies, Bank of Japan.
    22. Frederik Kurcz, 2025. "Quantifying the Fiscal Channel of Monetary Policy," Discussion Papers of DIW Berlin 2109, DIW Berlin, German Institute for Economic Research.
    23. Gergely Buda & Vasco M. Carvalho & Giancarlo Corsetti & João Duarte & Stephen Hansen & Afonso Pereira da Silva & Alvaro Ortiz & Tomasa Rodrigo & Guilherme Alves da Silva & José V. Rodríguez Mora, 2025. "España | Los cortos retardos de la política monetaria [Spain | The Short Lags of Monetary Policy]," Working Papers 25/02, BBVA Bank, Economic Research Department.
    24. Anna Samarina & Anh D.M. Nguyen, 2019. "Does monetary policy affect income inequality in the euro area?," Bank of Lithuania Working Paper Series 61, Bank of Lithuania.
    25. Debrun, Xavier & Masuch, Klaus & Ferrero, Guiseppe & Vansteenkiste, Isabel & Ferdinandusse, Marien & von Thadden, Leopold & Hauptmeier, Sebastian & Alloza, Mario & Derouen, Chloé & Bańkowski, Krzyszto, 2021. "Monetary-fiscal policy interactions in the euro area," Occasional Paper Series 273, European Central Bank.
    26. Nils M. Gornemann & Keith Kuester & Makoto Nakajima, 2021. "Doves for the Rich, Hawks for the Poor? Distributional Consequences of Systematic Monetary Policy," Opportunity and Inclusive Growth Institute Working Papers 50, Federal Reserve Bank of Minneapolis.
    27. R. Anton Braun & Daisuke Ikeda, 2025. "Monetary Policy Over the Lifecycle," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 56, April.
    28. Galo Nuño & Carlos Thomas, 2020. "Optimal Monetary Policy with Heterogeneous Agents," CESifo Working Paper Series 8670, CESifo.
    29. Kuester, Keith & Gornemann, Nils & Nakajima, Makoto, 2016. "Doves for the Rich, Hawks for the Poor? Distributional Consequences of Monetary Policy," CEPR Discussion Papers 11233, C.E.P.R. Discussion Papers.
    30. Dietrich, Alexander M. & Leitenbacher, Lukas & Müller, Gernot J., 2026. "Consumer durables, monetary policy, and the green transition," European Economic Review, Elsevier, vol. 182(C).
    31. Galo Nuño & Carlos Thomas, 2016. "Optimal monetary policy with heterogeneous agents (Updated September 2019)," Working Papers 1624, Banco de España, revised Sep 2019.
    32. Kurt Mitman & Iourii Manovskii & Marcus Hagedorn, 2017. "Monetary Policy in Incomplete Market Models: Theory and Evidence," 2017 Meeting Papers 1605, Society for Economic Dynamics.
    33. Paul Beaudry & Paolo Cavallino & Tim Willems, 2025. "Monetary policy along the yield curve: why can central banks affect long-term real rates?," Bank of England working papers 1117, Bank of England.
    34. Laure Simon, 2023. "Fiscal Stimulus and Skill Accumulation over the Life Cycle," Staff Working Papers 23-9, Bank of Canada.
    35. Damar, H. Evren & Lange, Ian & McKennie, Caitlin & Moro, Mirko, 2022. "Banking deregulation and consumption of home durables," IWH Discussion Papers 4/2022, Halle Institute for Economic Research (IWH).
    36. James B. Bullard & Riccardo DiCecio, 2025. "Optimal Monetary Policy for the Masses," Review, Federal Reserve Bank of St. Louis, vol. 107(10), July.
    37. Hagedorn, Marcus, 2018. "Prices and Inflation when Government Bonds are Net Wealth," CEPR Discussion Papers 12769, C.E.P.R. Discussion Papers.
    38. Bustamante, Christian, 2023. "The long-run redistributive effects of monetary policy," Journal of Monetary Economics, Elsevier, vol. 140(C), pages 106-123.
    39. Tenreyro, Silvana & Thwaites, Gregory, 2016. "Pushing on a string: US monetary policy is less powerful in recessions," LSE Research Online Documents on Economics 69214, London School of Economics and Political Science, LSE Library.
    40. Alisdair McKay & Johannes F. Wieland, 2021. "Lumpy Durable Consumption Demand and the Limited Ammunition of Monetary Policy," Staff Report 622, Federal Reserve Bank of Minneapolis.
    41. Carli, Francesco & Gomis-Porqueras, Pedro, 2021. "Real consequences of open market operations: The role of limited commitment," European Economic Review, Elsevier, vol. 132(C).
    42. Kimberly A. Berg & Chadwick C. Curtis & Steven Lugauer & Nelson C. Mark, 2019. "Demographics and Monetary Policy Shocks," NBER Working Papers 25970, National Bureau of Economic Research, Inc.
    43. Buda, G & Carvalho, V. M. & Corsetti, G & Duarte, J. B. & Hansen, S. & Moura, A. S. & Ortiz, A. & Rodrigo, T. & Rodríguez Mora, J. V. & Alves da Silva, G., 2025. "The Short Lags of Monetary Policy," Cambridge Working Papers in Economics 2509, Faculty of Economics, University of Cambridge.
      • Afonso S. Moura & Gergely Buda & Vasco M. Carvalho & Giancarlo Corsetti & João B. Duarte & Stephen Hansen & Álvaro Ortiz & Tomasa Rodrigo & José V. Rodríguez Mora & Guilherme Alves da Silva, 2025. "The Short Lags of Monetary Policy," Working Papers w202501, Banco de Portugal, Economics and Research Department.
    44. Chen, Xiaoliang & Guo, Junjie & Zhang, Junming, 2025. "How does aging population affect China's monetary policy effectiveness: Empirical evidence and theoretical analysis," Economic Modelling, Elsevier, vol. 152(C).
    45. Jin Cao & Chao Cui & Valeriya Dinger & Martin B. Holm & Shulong Kang, 2025. "Identifying the Depreciation Rate of Durables from Marginal Spending Responses," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 57(1), pages 223-241, February.
    46. Nektarios Michail & Agorasti Patronidou & Ioanna Evangelou, 2021. "Does Household Behaviour Depend on Monetary Policy? Evidence from Cyprus," Working Papers 2021-01, Central Bank of Cyprus.
    47. Tzamourani, Panagiota, 2021. "The interest rate exposure of euro area households," European Economic Review, Elsevier, vol. 132(C).
    48. Chien, YiLi & Wen, Yi, 2021. "Time-inconsistent optimal quantity of debt," European Economic Review, Elsevier, vol. 140(C).
    49. Sumit Agarwa & Yongheng Deng & Quanlin Gu & Jia He & Wenlan Qian & Yuan Ren, 2022. "Mortgage Debt, Hand-to-Mouth Households, and Monetary Policy Transmission [Policy intervention in debt renegotiation: evidence from the home affordable modification program]," Review of Finance, European Finance Association, vol. 26(3), pages 487-520.
    50. Valeria Zvereva & Olga Demidova & Dmitry Korshunov & Alexander Myasnikov, 2024. "Impact of Intraregional Income Inequality on the Operation of the Bank of Russia's Monetary Policy Transmission Mechanism," Russian Journal of Money and Finance, Bank of Russia, vol. 83(1), pages 3-31, March.
    51. Janet L. Yellen, 2016. "Macroeconomic Research After the Crisis : a speech at \"The Elusive 'Great' Recovery: Causes and Implications for Future Business Cycle Dynamics\" 60th annual economic conference sponsored by the Federal Reserve Bank of Boston, Boston, Mass," Speech 915, Board of Governors of the Federal Reserve System (U.S.).
    52. Kuncl, Martin & Ueberfeldt, Alexander, 2024. "Monetary policy and the persistent aggregate effects of wealth redistribution," Journal of Monetary Economics, Elsevier, vol. 144(C).
    53. Ben Moll, 2020. "The Research Agenda: Ben Moll on the Rich Interactions between Inequality and the Macroeconomy," EconomicDynamics Newsletter, Review of Economic Dynamics, vol. 21(2), November.
    54. Floden, Martin & Kilström, Matilda & Sigurdsson, Jósef & Vestman, Roine, 2017. "Household Debt and Monetary Policy: Revealing the Cash-Flow Channel," CEPR Discussion Papers 12270, C.E.P.R. Discussion Papers.
    55. Max Breitenlechner & Martin Geiger & Mathias Klein, 2024. "The Fiscal Channel of Monetary Policy," Working Papers 2024-07, Faculty of Economics and Statistics, Universität Innsbruck.
    56. Surico, Paolo & Cloyne, James & Ferreira, Clodomiro, 2015. "Monetary Policy when Households have Debt: New Evidence on the Transmission Mechanism," CEPR Discussion Papers 11023, C.E.P.R. Discussion Papers.
    57. Ahiadorme, Johnson Worlanyo, 2020. "Monetary policy transmission and income inequality in Sub-Saharan Africa," MPRA Paper 104084, University Library of Munich, Germany.
    58. Di Casola, Paola & Grothe, Magdalena, 2026. "Housing wealth and monetary policy transmission: cross-country evidence," Working Paper Series 3204, European Central Bank.
    59. Nick Stenner, 2022. "The Asymmetric Effects of Monetary Policy: Evidence from the United Kingdom," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 84(3), pages 516-543, June.
    60. Okan Akarsu & Emrehan Aktug & Muserref Kucukbayrak, 2025. "Hand-to-Mouth Households in the Eurosystem and the Transmission of Monetary Policy," Working Papers 2506, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
    61. Bernstein, Joshua, 2021. "A model of state-dependent monetary policy," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 904-917.
    62. Marwil J. Dávila-Fernández & Germana Giombini & Edgar J. Sánchez-Carrera, 2025. "Climateflation and Monetary Policy in an Environmental OLG Growth Model," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 88(11), pages 2937-2968, November.
    63. Hazra, Devika, 2022. "Does monetary policy favor the skilled? − Distributional role of monetary policy," The Quarterly Review of Economics and Finance, Elsevier, vol. 86(C), pages 65-86.
    64. Amina Enkhbold, 2023. "Monetary Policy Transmission, Bank Market Power, and Wholesale Funding Reliance," Staff Working Papers 23-35, Bank of Canada.
    65. Cui, Wei & Sterk, Vincent, 2021. "Quantitative easing with heterogeneous agents," Journal of Monetary Economics, Elsevier, vol. 123(C), pages 68-90.
    66. Christian Pfister & Jean-Guillaume Sahuc, 2020. "Unconventional Monetary Policies: A Stock-Taking Exercise," Working papers 761, Banque de France.
    67. Albert, Juan-Francisco & Gómez-Fernández, Nerea, 2024. "The impact of monetary policy shocks on net worth and consumption across races in the United States," Economic Systems, Elsevier, vol. 48(1).
    68. Christian Bustamante, 2021. "More Money for Some: The Redistributive Effects of Open Market Operations," Staff Working Papers 21-46, Bank of Canada.
    69. Gorokhovsky, Alexander & Rubinchik, Anna, 2022. "Necessary and sufficient conditions for determinacy of asymptotically stationary equilibria in OLG models," Journal of Economic Theory, Elsevier, vol. 204(C).
    70. Andreas Dibiasi & Heiner Mikosch & Samad Sarferaz & Armin Steinbach, 2025. "Fiscal Responses to Monetary Policy: Insights From a Survey of Government Officials," CESifo Working Paper Series 12247, CESifo.
    71. Hamid Baghestani & Sehar Fatima, 2021. "Growth in US Durables Spending: Assessing the Impact of Consumer Ability and Willingness to Buy," Journal of Business Cycle Research, Springer;Centre for International Research on Economic Tendency Surveys (CIRET), vol. 17(1), pages 55-69, April.
    72. Albert, Juan-Francisco & Gómez-Fernández, Nerea, 2018. "Monetary policy and the redistribution of net worth in the US," LSE Research Online Documents on Economics 91320, London School of Economics and Political Science, LSE Library.
    73. Shesadri Banerjee & Parantap Basu & Chetan Ghate, 2020. "A Monetary Business Cycle Model For India," Economic Inquiry, Western Economic Association International, vol. 58(3), pages 1362-1386, July.
    74. Nathan Goldstein & Ohad Raveh, 2024. "Looking up the sky: unidentified aerial phenomena and macroeconomic attention," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 11(1), pages 1-25, December.
    75. BBVA Research, 2025. "España | Los breves desfases de la Política Monetaria [Spain | The Short Lags of Monetary Policy]," Working Papers 25/08, BBVA Bank, Economic Research Department.
    76. Federico Di Pace & Matthias Hertweck, 2019. "Labor Market Frictions, Monetary Policy, and Durable Goods," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 32, pages 274-304, April.
    77. James B. Bullard & Aarti Singh, 2017. "Nominal GDP Targeting With Heterogeneous Labor Supply," Working Papers 2017-16, Federal Reserve Bank of St. Louis.
    78. Hülsewig, Oliver & Steinbach, Armin, 2021. "Monetary financing and fiscal discipline," International Review of Law and Economics, Elsevier, vol. 68(C).
    79. Chiara Punzo & Lorenza Rossi, 2021. "Is a Money-financed Fiscal Stimulus Desirable?," Working papers 818, Banque de France.

  5. Morten O. Ravn & Vincent Sterk, 2016. "Macroeconomic Fluctuations with HANK & SAM: An Analytical Approach," Discussion Papers 1633, Centre for Macroeconomics (CFM).

    Cited by:

    1. Acharya, Sushant & CHALLE, Edouard & Dogra, Keshav, 2020. "Optimal Monetary Policy According to HANK," CEPR Discussion Papers 14429, C.E.P.R. Discussion Papers.
    2. Dolado, Juan J & Motyovszki, Gergo & Pappa, Evi, 2018. "Monetary Policy and Inequality under Labor Market Frictions and Capital-Skill Complementarity," CEPR Discussion Papers 12734, C.E.P.R. Discussion Papers.
    3. Ansgar Rannenberg, 2019. "Inequality, the risk of secular stagnation and the increase in household deb," Working Paper Research 375, National Bank of Belgium.
    4. Serdar Birinci & Fatih Karahan & Yusuf Mercan & Kurt See, 2024. "Labor Market Shocks and Monetary Policy," Research Working Paper RWP 24-04, Federal Reserve Bank of Kansas City.
    5. Euiyoung Jung, 2021. "On the design of labor market programs as stabilization policies," PSE Working Papers halshs-03243698, HAL.
    6. Chan, Jenny & Diz, Sebastian & Kanngiesser, Derrick, 2022. "Energy Prices and Household Heterogeneity: Monetary Policy in a Gas-TANK," MPRA Paper 118543, University Library of Munich, Germany, revised Dec 2022.
    7. Davide Debortoli & Jordi Galí, 2021. "Idiosyncratic income risk and aggregate fluctuations," Economics Working Papers 1796, Department of Economics and Business, Universitat Pompeu Fabra, revised Jun 2023.
    8. Michael T. Kiley & John M. Roberts, 2017. "Monetary Policy in a Low Interest Rate World," Finance and Economics Discussion Series 2017-080, Board of Governors of the Federal Reserve System (U.S.).
    9. Carlin, Wendy & Soskice, David, 2017. "Stagnant productivity and low unemployment: stuck in a Keynesian equilibrium," CEPR Discussion Papers 12369, C.E.P.R. Discussion Papers.
    10. Euiyoung Jung, 2021. "Rigid Wages, Endogenous Job Destruction, and Destabilizing Spirals," Working Papers halshs-03213006, HAL.
    11. Zhao, Junzhu, 2023. "Wealth in utility, the Taylor principle and determinacy," Journal of Macroeconomics, Elsevier, vol. 76(C).
    12. Bobasu, Alina & Ciccarelli, Matteo & Notarpietro, Alessandro & Ambrocio, Gene & Auer, Simone & Bonfim, Diana & Bottero, Margherita & Brázdik, František & Buss, Ginters & Byrne, David & Casalis, André , 2025. "Monetary policy transmission: a reference guide through ESCB models and empirical benchmarks," Occasional Paper Series 377, European Central Bank.
    13. Joonseok Oh & Anna Rogantini Picco, 2025. "Macro Uncertainty, Unemployment Risk, And Consumption Dynamics," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 66(1), pages 287-312, February.
    14. Fabio Milani, 2025. "Inflation, Monetary Policy, and Capital-Labor Inequality," CESifo Working Paper Series 12065, CESifo.
    15. Mitman, Kurt & Rabinovich, Stanislav, 2021. "Whether, When and How to Extend Unemployment Benefits: Theory and Application to COVID-19," IZA Discussion Papers 14085, IZA Network @ LISER.
    16. Vincent Sterk & Wei Cui, 2019. "Quantitative Easing," 2019 Meeting Papers 29, Society for Economic Dynamics.
    17. Davide Debortoli & Jordi Galí, 2024. "Heterogeneity and aggregate fluctuations: insights from TANK models," Economics Working Papers 1882, Department of Economics and Business, Universitat Pompeu Fabra.
    18. Herman, Uroš & Lozej, Matija, 2023. "Who gets jobs matters: monetary policy and the labour market in HANK and SAM," Working Paper Series 2850, European Central Bank.
    19. Oskolkov, Aleksei, 2023. "Exchange rate policy and heterogeneity in small open economies," Journal of International Economics, Elsevier, vol. 142(C).
    20. Carreño Bustos, José Gabo, 2023. "Flexible Contracts as Business Cycle Stabilizers," Discussion Paper 2023-007, Tilburg University, Center for Economic Research.
    21. Julien Albertini & Stéphane Auray & Hafedh Bouakez & Aurélien Eyquem, 2020. "Taking off into the Wind: Unemployment Risk and State-Dependent Government Spending Multipliers," Working Papers halshs-02452369, HAL.
    22. Stefano Neri & Giuseppe Ferrero, 2017. "Monetary policy in a low interest rate environment," Questioni di Economia e Finanza (Occasional Papers) 392, Bank of Italy, Economic Research and International Relations Area.
    23. Gerke, Rafael & Giesen, Sebastian & Lozej, Matija & Röttger, Joost, 2024. "On household labour supply in sticky-wage HANK models," Discussion Papers 01/2024, Deutsche Bundesbank.
    24. Cristiano Cantore & Lukas Freund, 2020. "Workers, capitalists, and the government: fiscal policy and income (re)distribution," Bank of England working papers 858, Bank of England.
    25. He Nie & Jordan Roulleau-Pasdeloup, 2023. "The promises (and perils) of control-contingent forward guidance," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 49, pages 77-98, July.
    26. Adam, Felix & Matthes, Jürgen, 2018. "Zur Belastbarkeit von Forderungen nach expansiver Fiskalpolitik an der Nullzinsgrenze: Eine Kritik neukeynesianischer Modelle auf Basis einer Literaturanalyse," IW-Reports 7/2018, Institut der deutschen Wirtschaft (IW) / German Economic Institute.
    27. Davide Debortoli & Jordi Galí, 2017. "Monetary policy with heterogeneous agents: Insights from TANK models," Economics Working Papers 1686, Department of Economics and Business, Universitat Pompeu Fabra, revised May 2021.
    28. Salvatore Nisticò & Marialaura Seccareccia, 2022. "Unconventional Policy and Idiosyncratic Risk," Working Papers 7/22, Sapienza University of Rome, DISS.
    29. Dengler, Thomas & Gehrke, Britta & Zessner-Spitzenberg, Leopold, 2024. "Short-Time Work and Precautionary Savings," ECON WPS - Working Papers in Economic Theory and Policy 02/2024, TU Wien, Institute of Statistics and Mathematical Methods in Economics, Economics Research Unit.
    30. Luigi Bocola & Guido Lorenzoni, 2017. "Financial Crises and Lending of Last Resort in Open Economies," Staff Report 557, Federal Reserve Bank of Minneapolis.
    31. Bilbiie, Florin, 2018. "Monetary Policy and Heterogeneity: An Analytical Framework," CEPR Discussion Papers 12601, C.E.P.R. Discussion Papers.
    32. Christina Patterson, 2019. "The Matching Multiplier and the Amplification of Recessions," 2019 Meeting Papers 95, Society for Economic Dynamics.
    33. Liu, Shih-fu & Huang, Wei-chi & Lai, Ching-chong, 2022. "The Paradox of Toil at the Zero Lower Bound in a TANK Model," European Economic Review, Elsevier, vol. 148(C).
    34. Auray Stéphane & Eyquem Aurélien, 2017. "Unemployment, Borrowing Constraints and Stabilization Policies," Working Papers 2017-63, Center for Research in Economics and Statistics.
    35. Gauti B. Eggertsson & Sergei K. Egiev, 2025. "Liquidity Traps: A Unified Theory of the Great Depression and the Great Recession," Journal of Economic Literature, American Economic Association, vol. 63(4), pages 1424-1551, December.
    36. Jung, Euiyoung, 2023. "Wage rigidity and destabilizing spirals," Journal of Macroeconomics, Elsevier, vol. 77(C).
    37. Paweł Kopiec, 2022. "A Theory of The Procyclical Effectiveness of Forward Guidance," KAE Working Papers 2022-081, Warsaw School of Economics, Collegium of Economic Analysis.
    38. Hochmuth, Brigitte & Moyen, Stephane & Stähler, Nikolai, 2019. "Labor market reforms, precautionary savings, and global imbalances," Discussion Papers 13/2019, Deutsche Bundesbank.
    39. Cristiano Cantore & Vedanta Dhamija, 2024. "The Perils of a Dual Mandate," Economics Series Working Papers 1059, University of Oxford, Department of Economics.
    40. Gnocato, Nicolò, 2025. "Energy price shocks, unemployment, and monetary policy," Journal of Monetary Economics, Elsevier, vol. 151(C).
    41. Bustamante, Christian, 2023. "The long-run redistributive effects of monetary policy," Journal of Monetary Economics, Elsevier, vol. 140(C), pages 106-123.
    42. Edouard Djeutem & Mario He & Abeer Reza & Yang Zhang, 2022. "Household Heterogeneity and the Performance of Monetary Policy Frameworks," Staff Working Papers 22-12, Bank of Canada.
    43. Anastasiia Antonova & Mykhailo Matvieiev & Céline Poilly, 2024. "Supply Shocks in the Fog: The Role of Endogenous Uncertainty," AMSE Working Papers 2427, Aix-Marseille School of Economics, France.
    44. Nils Mattis Gornemann, 2018. "HANK meets Ramsey: Optimal Coordination of Monetary and Labor Market Policies," 2018 Meeting Papers 1252, Society for Economic Dynamics.
    45. Edouard Challe, 2018. "Uninsured Unemployment Risk and Optimal Monetary Policy," 2018 Meeting Papers 9, Society for Economic Dynamics.
    46. Auclert, Adrien & Bardoczy, Bence & Rognlie, Matthew & Straub, Ludwig, 2019. "Using the Sequence-Space Jacobian to Solve and Estimate Heterogeneous-Agent Models," CEPR Discussion Papers 13890, C.E.P.R. Discussion Papers.
    47. Jamie Lenney, 2022. "Monetary policy transmission, the labour share and HANK models," Bank of England working papers 960, Bank of England.
    48. Sumit Agarwa & Yongheng Deng & Quanlin Gu & Jia He & Wenlan Qian & Yuan Ren, 2022. "Mortgage Debt, Hand-to-Mouth Households, and Monetary Policy Transmission [Policy intervention in debt renegotiation: evidence from the home affordable modification program]," Review of Finance, European Finance Association, vol. 26(3), pages 487-520.
    49. Zheng Gong, 2025. "When Does Household Heterogeneity Matter for Aggregate Fluctuations?," CRC TR 224 Discussion Paper Series crctr224_2025_624v2, University of Bonn and University of Mannheim, Germany, revised Sep 2025.
    50. Bilbiie, Florin & Ragot, Xavier, 2017. "Optimal Monetary Policy and Liquidity with Heterogeneous Households," CEPR Discussion Papers 11814, C.E.P.R. Discussion Papers.
    51. Jolan Mohimont, 2019. "Welfare effects of business cycles and monetary policies in a small open emerging economy," Working Paper Research 376, National Bank of Belgium.
    52. Kengo NUTAHARA, 2022. "A benefit of monetary policy response to inequality," CIGS Working Paper Series 22-006E, The Canon Institute for Global Studies.
    53. Okan Akarsu & Emrehan Aktug & Muserref Kucukbayrak, 2025. "Hand-to-Mouth Households in the Eurosystem and the Transmission of Monetary Policy," Working Papers 2506, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
    54. Broer, Tobias & Kramer, John & Mitman, Kurt, 2022. "The Curious Incidence of Monetary Policy Across the Income Distribution," Working Paper Series 416, Sveriges Riksbank (Central Bank of Sweden).
    55. Andrew G. Haldane & Arthur E. Turrell, 2019. "Drawing on different disciplines: macroeconomic agent-based models," Journal of Evolutionary Economics, Springer, vol. 29(1), pages 39-66, March.
    56. Behzad Diba & Olivier Loisel, 2019. "Pegging the Interest Rate on Bank Reserves: A Resolution of New Keynesian Puzzles and Paradoxes," Working Papers gueconwpa~19-19-05, Georgetown University, Department of Economics.
    57. Bernstein, Joshua, 2021. "A model of state-dependent monetary policy," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 904-917.
    58. Tao Wang, 2023. "Perceived versus Calibrated Income Risks in Heterogeneous-Agent Consumption Models," Staff Working Papers 23-59, Bank of Canada.
    59. Jordi Galí, 2018. "The State of New Keynesian Economics: A Partial Assessment," Journal of Economic Perspectives, American Economic Association, vol. 32(3), pages 87-112, Summer.
    60. Euiyoung Jung, 2021. "On the design of labor market programs as stabilization policies," Working Papers halshs-03243698, HAL.
    61. Cui, Wei & Sterk, Vincent, 2021. "Quantitative easing with heterogeneous agents," Journal of Monetary Economics, Elsevier, vol. 123(C), pages 68-90.
    62. Consolo, Agostino & Hänsel, Matthias, 2024. "HANK faces unemployment," Working Paper Series 2953, European Central Bank.
    63. Andrew T. Foerster & José Mustre‐Del‐Río, 2022. "Search with Wage Posting under Sticky Prices," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 54(2-3), pages 599-626, March.
    64. Jung, Philip & Korfmann, Philipp & Preugschat, Edgar, 2021. "Optimal Regional Labor Market Policies," IZA Discussion Papers 14204, IZA Network @ LISER.
    65. Thomas Dengler & Britta Gehrke, 2022. "Short-Time Work and Precautionary Savings," CESifo Working Paper Series 9873, CESifo.
    66. Emmanuel Farhi & Ivan Werning, 2018. "Monetay Policy, Bounded Rationality, and Incomplete Markets," 2018 Meeting Papers 768, Society for Economic Dynamics.
    67. Tobias Broer & Per Krusell & Erik Öberg, 2023. "Fiscal multipliers: A heterogeneous‐agent perspective," Quantitative Economics, Econometric Society, vol. 14(3), pages 799-816, July.
    68. Miescu, Mirela & Mumtaz, Haroon & Theodoridis, Konstantinos, 2024. "Non-linear Dynamics of Oil Supply News Shocks," Cardiff Economics Working Papers E2024/18, Cardiff University, Cardiff Business School, Economics Section.
    69. Anastasiia Antonova & Mykhailo Matvieiev & Céline Poilly, 2025. "Macroeconomic Shocks in the Fog: The Role of Endogenous Uncertainty," AMSE Working Papers 2538, Aix-Marseille School of Economics, France.
    70. Kopiec, Pawel, 2019. "Household Heterogeneity and the Value of Government Spending Multiplier: an Analytical Characterization," MPRA Paper 93499, University Library of Munich, Germany.
    71. Julien Pascal, 2020. "Search, matching and heterogeneity [Recherche, appariement et hétérogénéité]," Sciences Po Economics Publications (main) tel-03408394, HAL.
    72. Fabio Ghironi, 2017. "Macro Needs Micro," NBER Working Papers 23836, National Bureau of Economic Research, Inc.
    73. Chen, Siyan & Desiderio, Saul, 2018. "Computational evidence on the distributive properties of monetary policy," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy, vol. 12, pages 1-32.
    74. Abbritti, Mirko & Consolo, Agostino, 2024. "Labour market skills, endogenous productivity and business cycles," European Economic Review, Elsevier, vol. 170(C).
    75. Ragnar Enger Juelsrud & Ella Getz Wold, 2023. "The importance of unemployment risk for individual savings," Working Papers 06/2023, Centre for Household Finance and Macroeconomic Research (HOFIMAR), BI Norwegian Business School.
    76. Luzie Thiel, 2023. "Monetary Policy and Inequality: A Two-way Relation," MAGKS Papers on Economics 202304, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    77. Luigi Bocola & Guido Lorenzoni, 2017. "Financial Crises, Dollarization, and Lending of Last Resort in Open Economies," NBER Working Papers 23984, National Bureau of Economic Research, Inc.
    78. Juelsrud, Ragnar E. & Wold, Ella Getz, 2019. "The Saving and Employment Effects of Higher Job Loss Risk," Working Paper 2019/17, Norges Bank.
    79. Euiyoung Jung, 2021. "Rigid Wages, Endogenous Job Destruction, and Destabilizing Spirals," PSE Working Papers halshs-03213006, HAL.

  6. Vincent Sterk, 2016. "The Dark Corners of the Labor Market," Discussion Papers 1603, Centre for Macroeconomics (CFM).

    Cited by:

    1. Kandoussi, Malak & Langot, François, 2020. "Uncertainty Shocks and Unemployment Dynamics," IZA Discussion Papers 13438, IZA Network @ LISER.
    2. Jesus Fernandez-Villaverde & Francesco Zanetti & Federico Mandelman & Yang Yu, 2019. "Search Complementarities, Aggregate Fluctuations, and Fiscal Policy," Economics Series Working Papers 880, University of Oxford, Department of Economics.
    3. Niklas Engbom, 2019. "Application Cycles," 2019 Meeting Papers 1170, Society for Economic Dynamics.
    4. Bengui, Julien & Acharya, Sushant & Dogra, Keshav & Wee, Shu Lin, 2018. "Slow Recoveries and Unemployment Traps: Monetary Policy in a Time of Hysteresis," CEPR Discussion Papers 13409, C.E.P.R. Discussion Papers.
    5. Etienne Lalé, 2015. "Loss of Skill and Labor Market Fluctuations," Bristol Economics Discussion Papers 15/668, School of Economics, University of Bristol, UK, revised 18 Jan 2017.
    6. Prein, Timm, 2019. "Persistent Unemployment, Sovereign Debt Crises, and the Impact of Haircuts," VfS Annual Conference 2019 (Leipzig): 30 Years after the Fall of the Berlin Wall - Democracy and Market Economy 203654, Verein für Socialpolitik / German Economic Association, revised 2019.
    7. Potter, Tristan, 2024. "Destabilizing search technology," Journal of Monetary Economics, Elsevier, vol. 145(C).
    8. Sniekers, F., 2016. "Persistence and volatility of Beveridge cycles," CeNDEF Working Papers 16-05, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance.
    9. Ross Doppelt, 2019. "Skill Flows: A Theory of Human Capital and Unemployment," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 31, pages 84-122, January.
    10. Sushant Acharya & Julien Bengui & Keshav Dogra & Shu Lin Wee, 2018. "Escaping Unemployment Traps," 2018 Meeting Papers 543, Society for Economic Dynamics.
    11. He, Chao & Fan, Xiaodong, 2024. "The paradox of search intensity," Journal of Economic Theory, Elsevier, vol. 221(C).
    12. Flemming, Jean, 2020. "Skill accumulation in the market and at home," Journal of Economic Theory, Elsevier, vol. 189(C).

  7. Petr Sedlacek & Vincent Sterk, 2014. "The Growth Potential of Startups over the Business Cycle," Discussion Papers 1403, Centre for Macroeconomics (CFM).

    Cited by:

    1. Vladimir Smirnyagin, 2020. "Compositional nature of firm growth and aggregate fluctuations," Bank of England working papers 846, Bank of England.
    2. Xuanli Zhu, 2025. "Establishment dynamics in post-war Japan: missing entry and shrinking size," The Japanese Economic Review, Springer, vol. 76(2), pages 337-374, April.
    3. Dinlersoz, Emin & Hyatt, Henry R. & Janicki, Hubert P., 2016. "Who Works for Whom? Worker Sorting in a Model of Entrepreneurship with Heterogeneous Labor Markets," IZA Discussion Papers 9693, IZA Network @ LISER.
    4. Štefan Slávik, 2019. "The Business Model of Start-Up—Structure and Consequences," Administrative Sciences, MDPI, vol. 9(3), pages 1-23, September.
    5. Saleem Bahaj & Sophie Piton & Anthony Savagar, 2022. "Business creation during Covid-19," Bank of England working papers 981, Bank of England.
    6. Lee, Yoonsoo & Mukoyama, Toshihiko, 2018. "A model of entry, exit, and plant-level dynamics over the business cycle," Journal of Economic Dynamics and Control, Elsevier, vol. 96(C), pages 1-25.
    7. Eran Hoffmann, 2018. "The Cyclical Composition of Startups," 2018 Meeting Papers 553, Society for Economic Dynamics.
    8. Cho, Insoo & Orazem, Peter F., 2020. "How endogenous risk preferences and sample selection affect analysis of firm survival," ISU General Staff Papers 202001040800001791, Iowa State University, Department of Economics.
    9. Leo Kaas, 2020. "Block-Recursive Equilibria in Heterogenous-Agent Models," CESifo Working Paper Series 8737, CESifo.
    10. Benhabib, Jess & Dong, Feng & Wang, Pengfei & Xu, Zhenyang, 2025. "Aggregate demand externality and self-fulfilling default cycles," Journal of Monetary Economics, Elsevier, vol. 156(C).
    11. Schneck, Stefan, 2018. "Times are a changin'? The emergence of new firms and rank persistence," Working Papers 01/18, Institut für Mittelstandsforschung (IfM) Bonn.
    12. Zachary Mahone, 2023. "Business Ownership and the Secondary Market," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 51, pages 1114-1158, December.
    13. Konon, Alexander & Fritsch, Michael & Kritikos, Alexander S., 2018. "Business Cycles and Start-ups across Industries: An Empirical Analysis of German Regions," IZA Discussion Papers 11501, IZA Network @ LISER.
    14. Enisse Kharroubi, 2022. "Growth expectations and the dynamics of firm entry," BIS Working Papers 1036, Bank for International Settlements.
    15. Mustapha Douch & Terence Huw Edwards & Jan Van Hove & Janez Kren, 2021. "The Great Trade Collapse and the determinants of UK export margins: A cohort‐ and firm‐level matching approach," The World Economy, Wiley Blackwell, vol. 44(10), pages 2838-2857, October.
    16. Cristiana Benedetti Fasil & Petr Sedlacek & Vincent Sterk, 2020. "EU start-up calculator: impact of COVID-19 on aggregate employment: Scenario analysis for Bulgaria, Croatia, Czechia, Luxemburg, Netherlands, Poland, Romania, Slovakia and Slovenia," JRC Research Reports JRC123086, Joint Research Centre.
    17. In Hwan Jo & Tatsuro Senga, 2016. "Firm Dynamics, Misallocation and Targeted Policies," Working Papers 809, Queen Mary University of London, School of Economics and Finance.
    18. Cavallari, Lilia & Romano, Simone & Naticchioni, Paolo, 2021. "The original sin: Firms’ dynamics and the life-cycle consequences of economic conditions at birth," European Economic Review, Elsevier, vol. 138(C).
    19. Gavazza, Alessandro & Violante, Giovanni & Mongey, Simon, 2016. "Aggregate Recruiting Intensity," CEPR Discussion Papers 11541, C.E.P.R. Discussion Papers.
    20. Richard K. Crump & Stefano Eusepi & Marc Giannoni & Ayşegül Şahin, 2019. "A unified approach to measuring u," Staff Reports 889, Federal Reserve Bank of New York.
    21. Caliendo, Marco & Rodriguez, Daniel, 2023. "Divergent Thinking and Post-Launch Entrepreneurial Outcomes: Non-Linearities and the Moderating Role of Experience," IZA Discussion Papers 16443, IZA Network @ LISER.
    22. Vojislav Maksimovic & Gordon Phillips & Liu Yang, 2023. "Do IPO Firms Become Myopic?," Review of Finance, European Finance Association, vol. 27(3), pages 765-807.
    23. Mustapha Douch & Terence Huw Edwards, 2022. "The bilateral trade effects of announcement shocks: Brexit as a natural field experiment," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 37(2), pages 305-329, March.
    24. Marta Aloi & Huw Dixon & Anthony Savagar, 2018. "Labour responses, regulation and business churn in a small open economy," Discussion Papers 2018/06, University of Nottingham, Centre for Finance, Credit and Macroeconomics (CFCM).
    25. Cristiana Benedetti Fasil & Petr Sedlacek & Vincent Sterk, 2020. "EU start-up calculator: impact of COVID-19 on aggregate employment: Scenario analysis for Denmark, Estonia, Finland, France, Latvia, Lithuania, Portugal and Sweden," JRC Research Reports JRC122318, Joint Research Centre.
    26. Bilbiie, F. O. & Melitz, M. J., 2023. "Aggregate-Demand Amplification of Supply Disruptions: The Entry-Exit Multiplier," Cambridge Working Papers in Economics 2368, Faculty of Economics, University of Cambridge.
    27. Caliendo, Marco & Kritikos, Alexander S. & Rodriguez, Daniel & Stier, Claudia, 2023. "Self-Efficacy and Entrepreneurial Performance of Start-Ups," IZA Discussion Papers 15848, IZA Network @ LISER.
    28. Marco Caliendo & Alexander Kritikos & Claudia Stier, 2022. "The Influence of Start-up Motivation on Entrepreneurial Performance," CEPA Discussion Papers 59, Center for Economic Policy Analysis.
    29. Bellmann, Lisa & Brixy, Udo, 2018. "Hiring by start-ups and regional labor supply," IAB-Discussion Paper 201818, Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany].
    30. Roger M. Gomis & Sameer Khatiwada, 2017. "Firm dynamics and business cycle: What doesn't kill you makes you stronger?," IHEID Working Papers 03-2017, Economics Section, The Graduate Institute of International Studies.
    31. Christoph Albert & Andrea Caggese, 2019. "Cyclical Fluctuations, Financial Shocks, and the Entry of Fast-Growing Entrepreneurial Startups," Working Papers 1067, Barcelona School of Economics.
    32. Hvide, Hans K. & Meling, Tom G., 2019. "Do Temporary Demand Shocks have Long-Term Effects for Startups?," Working Papers in Economics 6/19, University of Bergen, Department of Economics.
    33. Shyngys Karimov & Jozef Konings, 2021. "How lockdown causes a missing generation of start-ups and jobs," International Economics and Economic Policy, Springer, vol. 18(3), pages 457-473, July.
    34. Shai Bernstein & Emanuele Colonnelli & Davide Malacrino & Timothy McQuade, 2018. "Who Creates New Firms When Local Opportunities Arise?," NBER Working Papers 25112, National Bureau of Economic Research, Inc.
    35. Joao Ayres & Gajendran Raveendranathan, 2023. "Firm Entry and Exit during Recessions," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 47, pages 47-66, January.
    36. Alex Coad & Julian S. Frankish & Albert N. Link, 2020. "The Economic Contribution of a Cohort of New Firms Over Time," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 57(3), pages 519-536, November.
    37. Smirnyagin, Vladimir, 2023. "Returns to scale, firm entry, and the business cycle," Journal of Monetary Economics, Elsevier, vol. 134(C), pages 118-134.
    38. Tang, Haozhou & Zhang, Donghai, 2022. "Bubbly firm dynamics and aggregate fluctuations," Journal of Monetary Economics, Elsevier, vol. 132(C), pages 64-80.
    39. M. Jahangir Alam & Benoit Dostie & Jorg Drechsler & Lars Vilhuber, 2020. "Applying Data Synthesis for Longitudinal Business Data across Three Countries," Papers 2008.02246, arXiv.org.
    40. Mina, Andrea & Santoleri, Pietro, 2021. "The effect of the Great Recession on the employment growth of young vs. small firms in the Eurozone," Structural Change and Economic Dynamics, Elsevier, vol. 56(C), pages 184-194.
    41. Alaref, Jumana & Brodmann, Stefanie & Premand, Patrick, 2020. "The medium-term impact of entrepreneurship education on labor market outcomes: Experimental evidence from university graduates in Tunisia," Labour Economics, Elsevier, vol. 62(C).
    42. Mangin, Sephorah & Sedláček, Petr, 2018. "Unemployment and the labor share," Journal of Monetary Economics, Elsevier, vol. 94(C), pages 41-59.
    43. SedlÃ¡Ä ek, Petr, 2016. "Creative Destruction and Uncertainty," CEPR Discussion Papers 11296, C.E.P.R. Discussion Papers.
    44. David Finck & Paul Rudel, 2020. "Do Credit Supply Shocks Have Asymmetric Effects?," MAGKS Papers on Economics 202026, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    45. Joonkyu Choi, 2018. "Entrepreneurial Risk-Taking, Young Firm Dynamics, and Aggregate Implications," 2018 Meeting Papers 1018, Society for Economic Dynamics.
    46. Holter, Hans & Stepanchuk, Serhiy & Wang, Yicheng, 2023. "Taxation and Entrepreneurship in the United States," Memorandum 2/2023, Oslo University, Department of Economics.
    47. Udo Brixy & Martin Murmann, 2025. "Hiring opportunities for new firms and the business cycle," Small Business Economics, Springer, vol. 64(3), pages 1387-1413, March.
    48. Beem, Richard & Bruce, Donald, 2021. "Failure to launch: Measuring the impact of sales tax nexus standards on business activity," Journal of Public Economics, Elsevier, vol. 201(C).
    49. Julia Thomas & Berardino Palazzo & Aubhik Khan & Gian Luca Clementi, 2014. "Entry, Exit and the Shape of Aggregate Fluctuations in a General Equilibrium Model with Capital Heterogeneity," 2014 Meeting Papers 1344, Society for Economic Dynamics.
    50. Sarah Cheah & Shiyu li & Yuen-Ping Ho, 2019. "Mutual Support, Role Breadth Self-Efficacy, and Sustainable Job Performance of Workers in Young Firms," Sustainability, MDPI, vol. 11(12), pages 1-17, June.
    51. Thorsten Drautzburg, 2016. "Just How Important Are New Businesses?," Economic Insights, Federal Reserve Bank of Philadelphia, vol. 1(4), pages 1-7, October.
    52. Mustapha Douch & Huw Edwards & Sushanta Mallick, 2022. "The UK Productivity Puzzle: Does Firm Cohort matter for their Performance following the Financial Crisis?," Bank of Lithuania Working Paper Series 101, Bank of Lithuania.
    53. Douch, Mustaph & Huw Edwards, T., 2021. "The Brexit policy shock: Were UK services exports affected, and when?," Journal of Economic Behavior & Organization, Elsevier, vol. 182(C), pages 248-263.
    54. Garnadt, Niklas & von Rueden, Christina & Thiel, Esther, 2021. "Labour reallocation dynamics in Germany during the COVID-19 pandemic and past recessions," Working Papers 08/2021, German Council of Economic Experts / Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung.
    55. Joao Ayres & Gajendran Raveendranathan, 2018. "The Firm Dynamics of Business Cycles," Department of Economics Working Papers 2018-16, McMaster University.
    56. Aubhik Khan & Julia Thomas & Tatsuro Senga, 2018. "The Persistent Effects of Entry and Exit," 2018 Meeting Papers 707, Society for Economic Dynamics.
    57. Mahieu, Jeroen, 2020. "Creative Destruction? Local Business Conditions and the Earnings of Employees at Startups," MPRA Paper 98557, University Library of Munich, Germany.
    58. Ia Vardishvili, 2023. "Entry Decision, the Option to Delay Entry, and Business Cycles," Auburn Economics Working Paper Series auwp2023-04, Department of Economics, Auburn University.
    59. Elaine Laing & André Stel & David J. Storey, 2022. "Formal and informal entrepreneurship: a cross-country policy perspective," Small Business Economics, Springer, vol. 59(3), pages 807-826, October.
    60. David Finck & Paul Rudel, 2023. "Do credit supply shocks have asymmetric effects?," Empirical Economics, Springer, vol. 64(4), pages 1559-1597, April.
    61. Amélie Lafrance-Cooke & Danny Leung, 2024. "New businesses since the beginning of the COVID-19 pandemic," Economic and Social Reports 202400600003e, Statistics Canada, Analytical Studies and Modelling Branch.
    62. Chen, Cheng & Senga, Tatsuro & Sun, Chang & Zhang, Hongyong, 2023. "Uncertainty, imperfect information, and expectation formation over the firm’s life cycle," Journal of Monetary Economics, Elsevier, vol. 140(C), pages 60-77.
    63. Beiler, Hendrik, 2017. "Do you dare? The effect of economic conditions on entrepreneurship among college graduates," Labour Economics, Elsevier, vol. 47(C), pages 64-74.
    64. In Hwan Jo & Tatsuro Senga, 2018. "Aggregate Consequences of Credit Subsidy Policies: Firm Dynamics and Misallocation," 2018 Meeting Papers 955, Society for Economic Dynamics.
    65. Todd Messer & Michael Siemer & Francois Gourio, 2016. "A Missing Generation of Firms? Aggregate Effects of the Decline in New Business Formation," 2016 Meeting Papers 752, Society for Economic Dynamics.
    66. Jaeyeong Nam & Daniel L. Fay, 2025. "Development burdens: state contact centers, administrative burden, and economic development policy," The Journal of Technology Transfer, Springer, vol. 50(2), pages 637-667, April.
    67. Miller, Jason W. & Phares, Jonathan & Burks, Stephen V., 2025. "Bring Out the Bulls: Employment Dynamics of Trucking Firms During Highly Expansive Market Conditions," IZA Discussion Papers 17627, IZA Network @ LISER.
    68. Camino-Mogro, Segundo, 2020. "Turbulence in startups: Effect of COVID-19 lockdown on creation of new firms and its capital," MPRA Paper 104502, University Library of Munich, Germany.
    69. Fossen, Frank M., 2019. "Entrepreneurship over the Business Cycle in the United States: A Decomposition," IZA Discussion Papers 12499, IZA Network @ LISER.
    70. Fukuda, Akira, 2025. "Entrepreneurship of the ice age cohorts," Journal of the Japanese and International Economies, Elsevier, vol. 77(C).
    71. Alexander Konon & Michael Fritsch & Alexander Kritikos, 2017. "Business Cycles and Start-ups across Industries: an Empirical Analysis for Germany," Jena Economics Research Papers 2017-013, Friedrich-Schiller-University Jena.
    72. Gerald A. Carlino & Thorsten Drautzburg, 2017. "The Role of Startups for Local Labor Markets," Working Papers 17-31, Federal Reserve Bank of Philadelphia.
    73. Pau Roldan-Blanco & Tom Schmitz & Christian Fons-Rosen, 2026. "The Effects of Startup Acquisitions on Innovation and Economic Growth," Working Papers 1560, Barcelona School of Economics.
    74. Sara Moreira, 2017. "Firm Dynamics, Persistent Effects of Entry Conditions, and Business Cycles," Working Papers 17-29, Center for Economic Studies, U.S. Census Bureau.
    75. Robert W. Fairlie & Frank M. Fossen, 2019. "Defining Opportunity versus Necessity Entrepreneurship: Two Components of Business Creation," NBER Working Papers 26377, National Bureau of Economic Research, Inc.
    76. Stephen Millard & Anamaria Nicolae & Michael Nower, 2019. "International trade, non-trading firms and their impact on labour productivity," Bank of England working papers 787, Bank of England.
    77. Guzman Gonzales-Torres & Francesco Manaresi & Filippo Scoccianti, 2020. "Born in hard times: startups selection and intangible capital during the financial crisis," Questioni di Economia e Finanza (Occasional Papers) 582, Bank of Italy, Economic Research and International Relations Area.
    78. Ari Hyytinen & Petri Rouvinen & Mika Pajarinen & Joosua Virtanen, 2023. "Ex Ante Predictability of Rapid Growth: A Design Science Approach," Entrepreneurship Theory and Practice, , vol. 47(6), pages 2465-2493, November.
    79. Vicente J. Bermejo & Miguel A. Ferreira & Daniel Wolfenzon & Rafael Zambrana, 2022. "Windfall gains and entrepreneurial activity: Evidence from the Spanish Christmas lottery," Nova SBE Working Paper Series wp651, Universidade Nova de Lisboa, Nova School of Business and Economics.
    80. Brixy, Udo & Murmann, Martin, 2016. "The growth and human capital structure of new firms over the business cycle," ZEW Discussion Papers 16-079, ZEW - Leibniz Centre for European Economic Research.
    81. Ferreira, Miguel & Bermejo, Vicente & Wolfenzon, Daniel & Zambrana, Rafael, 2020. "Entrepreneurship and Regional Windfall Gains: Evidence from the Spanish Christmas Lottery," CEPR Discussion Papers 14638, C.E.P.R. Discussion Papers.
    82. Murmann, Martin, 2017. "The Growth and Human Capital Structure of New Firms over the Business Cycle," VfS Annual Conference 2017 (Vienna): Alternative Structures for Money and Banking 168290, Verein für Socialpolitik / German Economic Association.
    83. Isaac Hacamo & Kristoph Kleiner, 2022. "Forced Entrepreneurs," Journal of Finance, American Finance Association, vol. 77(1), pages 49-83, February.
    84. Bettin, Giulia & Massidda, Carla & Piras, Romano, 2024. "The intertwined role of social and financial remittances in new firms' creation," Journal of International Management, Elsevier, vol. 30(1).
    85. Cristiana Benedetti Fasil & Petr Sedlacek & Vincent Sterk, 2020. "EU start-up calculator: impact of COVID-19 on aggregate employment: Scenario analysis for Austria, Belgium, Germany, Hungary, Italy and Spain," JRC Research Reports JRC121715, Joint Research Centre.
    86. Sedláček, Petr, 2020. "Lost generations of firms and aggregate labor market dynamics," Journal of Monetary Economics, Elsevier, vol. 111(C), pages 16-31.
    87. Antonova, Anastasiia & Matvieiev, Mykhailo, 2025. "News and firm entry: The role of the waiting option," Journal of Economic Dynamics and Control, Elsevier, vol. 171(C).
    88. Melcangi, Davide & Turen, Javier, 2023. "Subsidizing startups under imperfect information," Journal of Monetary Economics, Elsevier, vol. 139(C), pages 93-109.
    89. Aysegul Sahin & Benjamin Pugsley, 2015. "Grown-up Business Cycles," 2015 Meeting Papers 655, Society for Economic Dynamics.
    90. Schmitz, Tom, 2021. "Endogenous growth, firm heterogeneity and the long-run impact of financial crises," European Economic Review, Elsevier, vol. 132(C).
    91. Hirschmann, Mirko, 2025. "One size does not fit all: Sustainable innovation, climate policy, and startups' growth aspirations," Technological Forecasting and Social Change, Elsevier, vol. 215(C).
    92. Tian, Can, 2022. "Learning and firm dynamics in a stochastic equilibrium," Journal of Economic Theory, Elsevier, vol. 203(C).
    93. Lynda Sanderson, 2024. "Born in bad times: Economic conditions, selection and employment," Working Papers 2024/01, New Zealand Productivity Commission.
    94. Valerien O. Pede & Raymond J. G. M. Florax & Henri L. F. de Groot & Gustavo Barboza, 2021. "Technological leadership and sectorial employment growth: A spatial econometric analysis for U.S. counties," Economic Notes, Banca Monte dei Paschi di Siena SpA, vol. 50(1), February.
    95. Aubhik Khan & Julia Thomas & Tatsuro Senga, 2019. "Business Formation and Economic Growth Beyond the Great Recession," 2019 Meeting Papers 1453, Society for Economic Dynamics.
    96. Tetiana Stroiko & Patricia P. Iglesias-Sanchez & Carmen Jambrino-Maldonado & Elena Fernández-Díaz & Carlos de las Heras-Pedrosa, 2024. "Ukrainian Women’s Entrepreneurship and Business Ecosystem during the War: New Challenges for Development," Sustainability, MDPI, vol. 16(9), pages 1-21, May.
    97. Sebastian Camarero Garcia & Martin Murmann, 2025. "How unemployment benefit duration shapes startup motivation and growth," Small Business Economics, Springer, vol. 64(4), pages 1565-1600, April.
    98. Frank M. Fossen, 2021. "Self-employment over the business cycle in the USA: a decomposition," Small Business Economics, Springer, vol. 57(4), pages 1837-1855, December.
    99. García-Vega, María, 2022. "R&D restructuring during the Great Recession and young firms," International Journal of Industrial Organization, Elsevier, vol. 81(C).
    100. Julien Albertini & Xavier Fairise & Anthony Terriau, 2024. "Corporate taxation and firm heterogeneity," TEPP Working Paper 2024-08, TEPP.
    101. Singh, Aarti & Suda, Jacek & Zervou, Anastasia, 2021. "Heterogeneous labour market response to monetary policy: small versus large firms," Working Papers 2021-07, University of Sydney, School of Economics, revised Nov 2021.
    102. Alex Coad & Masatoshi Kato, 2021. "Growth paths and routes to exit: 'shadow of death' effects for new firms in Japan," Small Business Economics, Springer, vol. 57(3), pages 1145-1173, October.
    103. J David Brown & John S Earle & Mee Jung Kim & Kyung Min Lee, 2019. "Start-ups, job creation, and founder characteristics," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 28(6), pages 1637-1672.
    104. Caliendo, Marco & Fossen, Frank M. & Kritikos, Alexander S., 2022. "Personality characteristics and the decision to hire," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 31(3), pages 736-761.
    105. Stefan Schneck, 2020. "Times are a Changin’? The Emergence of New Firms and Rank Reshuffling," Journal of Industry, Competition and Trade, Springer, vol. 20(1), pages 1-33, March.
    106. John G. Fernald, 2016. "Reassessing Longer-Run U.S. Growth: How Low?," Working Paper Series 2016-18, Federal Reserve Bank of San Francisco.
    107. Richard Audoly, 2023. "Firm Dynamics and Random Search over the Business Cycle," Staff Reports 1069, Federal Reserve Bank of New York.
    108. Haozhou Tang, 2018. "Asset Price Bubbles and the Distribution of Firms," 2018 Meeting Papers 362, Society for Economic Dynamics.
    109. Petr Sedláček & Vincent Sterk, 2017. "The Growth Potential of Startups over the Business Cycle," American Economic Review, American Economic Association, vol. 107(10), pages 3182-3210, October.
    110. Brault, Julien, 2023. "Recent trends in EU corporate demography and policy: COVID and beyond," EIF Working Paper Series 2023/90, European Investment Fund (EIF).
    111. Pavol Majher, 2015. "Firm entry and exit, investment irreversibility, and business cycle dynamics," Vienna Economics Papers vie1513, University of Vienna, Department of Economics.
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    113. Beatrice Karitu & Wanja Wangondu & Stephen Muathe, 2022. "A theoretical route towards conceptualization of start-ups in emerging markets: A Kenyan perspective," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 11(4), pages 448-457, June.
    114. Ufuk Akcigit & Raman S. Chhina & Seyit Cilasun & Javier Miranda & Nicolas Serrano-Velarde, 2025. "Credit Card Entrepreneurs," Jena Economics Research Papers 2025-003, Friedrich-Schiller-University Jena.
    115. Majeed, Omer & Hambur, Jonathan & Breunig, Robert, 2025. "Does monetary policy impact innovation? Evidence from Australian Administrative Data," Journal of Macroeconomics, Elsevier, vol. 86(C).

  8. Vincent Sterk & Silvana Tenreyro, 2013. "The Transmission of Monetary Policy Operations through Redistributions and Durable Purchases," Discussion Papers 1305, Centre for Macroeconomics (CFM).

    Cited by:

    1. Paolo Surico & Clodomiro Ferreira & James Cloyne, 2015. "Housing Debt and the Transmission of Monetary Policy," 2015 Meeting Papers 629, Society for Economic Dynamics.
    2. Ivan Werning, 2016. "Incomplete Markets and Aggregate Demand," 2016 Meeting Papers 932, Society for Economic Dynamics.
    3. Yunus Aksoy & Ron P. Smith & Tobias Grasl & Henrique S. Basso, 2015. "Demographic structure and macroeconomic trends," Working Papers 1528, Banco de España.
    4. Carlos Garriga & Finn E. Kydland & Roman Šustek, 2016. "Nominal rigidities in debt and product markets," Working Papers 2016-17, Federal Reserve Bank of St. Louis.
    5. Adrien Auclert, 2017. "Monetary Policy and the Redistribution Channel," Working Papers 1706, Council on Economic Policies.
    6. Emmanuel Farhi & Iván Werning, 2017. "Monetary Policy, Bounded Rationality, and Incomplete Markets," NBER Working Papers 23281, National Bureau of Economic Research, Inc.
    7. Sergeyev, Dmitriy & Iovino, Luigi, 2018. "Central Bank Balance Sheet Policies Without Rational Expectations," CEPR Discussion Papers 13100, C.E.P.R. Discussion Papers.
    8. Carlos Garriga & Finn E. Kydland & Roman Šustek, 2015. "Mortgages and Monetary Policy," Working Papers 2015-33, Federal Reserve Bank of St. Louis.
    9. Alessandro Cantelmo & Giovanni Melina, 2015. "Monetary Policy and the Relative Price of Durable Goods," CESifo Working Paper Series 5328, CESifo.
    10. Marco Di Maggio & Amir Kermani & Christopher Palmer, 2016. "How Quantitative Easing Works: Evidence on the Refinancing Channel," NBER Working Papers 22638, National Bureau of Economic Research, Inc.
    11. Ifeoma Florence Onaga & Augustine C. Arize & Josaphat U. J Onwumere & Ebere Ume Kalu, 2023. "Monetary policy transmission channels and the performance of the real sectors in selected sub-Saharan African countries: a system-GMM approach," Future Business Journal, Springer, vol. 9(1), pages 1-15, December.
    12. Surico, Paolo & Cloyne, James & Ferreira, Clodomiro, 2015. "Monetary Policy when Households have Debt: New Evidence on the Transmission Mechanism," CEPR Discussion Papers 11023, C.E.P.R. Discussion Papers.
    13. Rodney Ramcharan & Amir Kermani & Marco Di Maggio, 2015. "Monetary Policy Pass-Through: Household Consumption and Voluntary Deleveraging," 2015 Meeting Papers 256, Society for Economic Dynamics.
    14. Miles, David & Schanz, Jochen, 2014. "Should central banks provide reserves via repos or outright bond purchases?," CEPR Discussion Papers 10229, C.E.P.R. Discussion Papers.
    15. Daniel Murphy, 2015. "How Can Government Spending Stimulate Consumption?," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 18(3), pages 551-574, July.

  9. Morten O. Ravn & Vincent Sterk, 2012. "Job Uncertainty and Deep Recessions," Discussion Papers 1501, Centre for Macroeconomics (CFM), revised Dec 2014.

    Cited by:

    1. Acharya, Sushant & CHALLE, Edouard & Dogra, Keshav, 2020. "Optimal Monetary Policy According to HANK," CEPR Discussion Papers 14429, C.E.P.R. Discussion Papers.
    2. Robert E. Hall, 2016. "Macroeconomics of Persistent Slumps," NBER Working Papers 22230, National Bureau of Economic Research, Inc.
    3. Tobias Broer & Per Krusell & Niels-Jakob Hansen & Erik Oberg, 2015. "The New Keynesian Transmission Channel," 2015 Meeting Papers 941, Society for Economic Dynamics.
    4. François Le Grand & Xavier Ragot, 2022. "Managing Inequality over Business Cycles: Optimal Policies with Heterogeneous Agents and Aggregate Shocks," Post-Print hal-03501381, HAL.
    5. Euiyoung Jung, 2021. "On the design of labor market programs as stabilization policies," PSE Working Papers halshs-03243698, HAL.
    6. Mitman, Kurt & Manovskii, Iourii & Hagedorn, Marcus, 2019. "The Fiscal Multiplier," CEPR Discussion Papers 13529, C.E.P.R. Discussion Papers.
    7. Greg Kaplan & Benjamin Moll & Giovanni L. Violante, 2016. "Monetary Policy According to HANK," Working Papers 1602, Council on Economic Policies.
    8. Mitman, Kurt & Krueger, Dirk & Perri, Fabrizio, 2016. "Macroeconomics and Household Heterogeneity," CEPR Discussion Papers 11308, C.E.P.R. Discussion Papers.
    9. Choi, Sangyup & Furceri, Davide & Yoo, Seung Yong, 2024. "Heterogeneity in the effects of uncertainty shocks on labor market dynamics and extensive vs. intensive margins of adjustment," Journal of Economic Dynamics and Control, Elsevier, vol. 162(C).
    10. Riccardo Zago, 2020. "Job Polarization, Skill Mismatch and the Great Recession," Working papers 755, Banque de France.
    11. Annabelle Mourougane, 2015. "Crisis, Potential Output And Hysteresis," Working Papers 2015-631, Department of Research, Ipag Business School.
    12. Julien Matheron & Juan Rubio-Ramirez & Edouard Challe & Xavier Ragot, 2014. "Precautionary Saving and Aggregate Demand," 2014 Meeting Papers 1021, Society for Economic Dynamics.
    13. Edouard Challe & Xavier Ragot, 2016. "Precautionary Saving Over the Business Cycle," PSE-Ecole d'économie de Paris (Postprint) halshs-01313771, HAL.
    14. Christian Bayer & Benjamin Born & Ralph Luetticke, 2020. "Shocks, Frictions, and Inequality in US Business Cycles," CESifo Working Paper Series 8085, CESifo.
    15. Carlin, Wendy & Soskice, David, 2017. "Stagnant productivity and low unemployment: stuck in a Keynesian equilibrium," CEPR Discussion Papers 12369, C.E.P.R. Discussion Papers.
    16. Euiyoung Jung, 2021. "Rigid Wages, Endogenous Job Destruction, and Destabilizing Spirals," Working Papers halshs-03213006, HAL.
    17. Christian Bayer & Benjamin Born & Ralph Luetticke & Gernot J Müller, 2023. "The Coronavirus Stimulus Package: How Large is the Transfer Multiplier," The Economic Journal, Royal Economic Society, vol. 133(652), pages 1318-1347.
    18. Ricardo Reis & Alisdair McKay, 2015. "Optimal Automatic Stabilizers," 2015 Meeting Papers 608, Society for Economic Dynamics.
    19. Robert E. Hall, 2014. "Quantifying the Lasting Harm to the U.S. Economy from the Financial Crisis," NBER Working Papers 20183, National Bureau of Economic Research, Inc.
    20. G. C. Lim & Sarantis Tsiaplias, 2019. "Household income requirements and financial conditions," Empirical Economics, Springer, vol. 57(5), pages 1705-1730, November.
    21. Bobasu, Alina & Ciccarelli, Matteo & Notarpietro, Alessandro & Ambrocio, Gene & Auer, Simone & Bonfim, Diana & Bottero, Margherita & Brázdik, František & Buss, Ginters & Byrne, David & Casalis, André , 2025. "Monetary policy transmission: a reference guide through ESCB models and empirical benchmarks," Occasional Paper Series 377, European Central Bank.
    22. Luetticke, Ralph, 2018. "Transmission of monetary policy with heterogeneity in household portfolios," LSE Research Online Documents on Economics 90377, London School of Economics and Political Science, LSE Library.
    23. Joonseok Oh & Anna Rogantini Picco, 2025. "Macro Uncertainty, Unemployment Risk, And Consumption Dynamics," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 66(1), pages 287-312, February.
    24. de Ferra, Sergio & Mitman, Kurt & Romei, Federica, 2020. "Household heterogeneity and the transmission of foreign shocks," Journal of International Economics, Elsevier, vol. 124(C).
    25. Paul Beaudry & Dana Galizia & Franck Portier, 2014. "Reconciling Hayek's and Keynes Views of Recessions," NBER Working Papers 20101, National Bureau of Economic Research, Inc.
    26. Sushant Acharya & Keshav Dogra, 2018. "Understanding HANK: Insights from a PRANK," 2018 Meeting Papers 539, Society for Economic Dynamics.
    27. Alisdair McKay & Emi Nakamura & Jón Steinsson, 2016. "The Discounted Euler Equation: A Note," NBER Working Papers 22129, National Bureau of Economic Research, Inc.
    28. Hagedorn, Marcus, 2016. "A Demand Theory of the Price Level," CEPR Discussion Papers 11364, C.E.P.R. Discussion Papers.
    29. Davide Debortoli & Jordi Galí, 2024. "Heterogeneity and aggregate fluctuations: insights from TANK models," Economics Working Papers 1882, Department of Economics and Business, Universitat Pompeu Fabra.
    30. François Le Grand & Xavier Ragot, 2017. "Optimal Fiscal Policy with Heterogeneous Agents and Aggregate Shocks," Sciences Po Economics Discussion Papers hal-03458683, HAL.
    31. Ambrocio, Gene, 2020. "Inflationary household uncertainty shocks," Bank of Finland Research Discussion Papers 5/2020, Bank of Finland.
    32. Alisdair McKay & Ricardo Reis, 2018. "Countercyclical fiscal policy in a low r∗ world," 2018 Meeting Papers 621, Society for Economic Dynamics.
    33. Felipe Alves & Greg Kaplan & Benjamin Moll & Giovanni L. Violante, 2020. "A Further Look at the Propagation of Monetary Policy Shocks in HANK," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 52(S2), pages 521-559, December.
    34. Carreño Bustos, José Gabo, 2023. "Flexible Contracts as Business Cycle Stabilizers," Discussion Paper 2023-007, Tilburg University, Center for Economic Research.
    35. Philippe Bacchetta & Eric van Wincoop, 2013. "The Great Recession: A Self-Fulfilling Global Panic," NBER Working Papers 19062, National Bureau of Economic Research, Inc.
    36. Florin Bilbiie & Xavier Ragot, 2017. "Optimal Monetary Policy and Liquidity with Heterogeneous Households," Working Papers hal-03471839, HAL.
    37. Alvaro Aguirre, 2020. "Unequal Political Business Cycles: Inequality, Policy Uncertainty and the Macroeconomy," Working Papers Central Bank of Chile 861, Central Bank of Chile.
    38. Sebastian Gechert, 2023. "Fiscal policy: post- or New Keynesian?," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 20(2), pages 338-355, November.
    39. Francesco Ferrante & Matthias Paustian, 2019. "Household Debt and the Heterogeneous Effects of Forward Guidance," International Finance Discussion Papers 1267, Board of Governors of the Federal Reserve System (U.S.).
    40. Graham, James & Ozbilgin, Murat, 2021. "Age, industry, and unemployment risk during a pandemic lockdown," Journal of Economic Dynamics and Control, Elsevier, vol. 133(C).
    41. Mitman, Kurt & Hagedorn, Marcus & Manovskii, Iourii & Luo, Jinfeng, 2018. "Forward Guidance," CEPR Discussion Papers 12858, C.E.P.R. Discussion Papers.
    42. Mumtaz, Haroon & Theodoridis, Konstantinos, 2020. "Dynamic effects of monetary policy shocks on macroeconomic volatility," Journal of Monetary Economics, Elsevier, vol. 114(C), pages 262-282.
    43. Marta Pascual-Sáez & David Cantarero-Prieto & María González-Diego, 2018. "Testing the effect of population ageing on national saving rates: panel data evidence from Europe," Working Papers. Collection B: Regional and sectoral economics 1803, Universidade de Vigo, GEN - Governance and Economics research Network.
    44. Oh, Joonseok & Rogantini Picco, Anna, 2020. "Macro Uncertainty and Unemployment Risk," Working Paper Series 395, Sveriges Riksbank (Central Bank of Sweden).
    45. Portier, Franck & Beaudry, Paul & Galizia, Dana, 2015. "Reviving the Limit Cycle View of Macroeconomic Fluctuations," CEPR Discussion Papers 10645, C.E.P.R. Discussion Papers.
    46. Byoungchan Lee, 2020. "Business Cycles and Earnings Inequality," HKUST CEP Working Papers Series 202001, HKUST Center for Economic Policy.
    47. Jae Won Lee & Seunghyeon Lee, 2025. "Monetary Non-Neutrality in a Multisector Economy: The Role of Risk-Sharing," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 55, January.
    48. Luba Petersen & Guidon Fenig, 2015. "Distributing scarce jobs and output: Experimental evidence on the effects of rationing," Discussion Papers dp15-02, Department of Economics, Simon Fraser University.
    49. Auray, Stéphane & Eyquem, Aurélien, 2020. "The macroeconomic effects of lockdown policies," Journal of Public Economics, Elsevier, vol. 190(C).
    50. Davide Debortoli & Jordi Galí, 2017. "Monetary policy with heterogeneous agents: Insights from TANK models," Economics Working Papers 1686, Department of Economics and Business, Universitat Pompeu Fabra, revised May 2021.
    51. Dengler, Thomas & Gehrke, Britta, 2021. "Short-Time Work and Precautionary Savings," IZA Discussion Papers 14329, IZA Network @ LISER.
    52. Dengler, Thomas & Gehrke, Britta & Zessner-Spitzenberg, Leopold, 2024. "Short-Time Work and Precautionary Savings," ECON WPS - Working Papers in Economic Theory and Policy 02/2024, TU Wien, Institute of Statistics and Mathematical Methods in Economics, Economics Research Unit.
    53. Samuel Bowles & Wendy Carlin, 2020. "What Students Learn in Economics 101: Time for a Change," Journal of Economic Literature, American Economic Association, vol. 58(1), pages 176-214, March.
    54. McKay, Alisdair, 2017. "Time-varying idiosyncratic risk and aggregate consumption dynamics," Journal of Monetary Economics, Elsevier, vol. 88(C), pages 1-14.
    55. Galo Nuño & Carlos Thomas, 2016. "Optimal monetary policy with heterogeneous agents (Updated September 2019)," Working Papers 1624, Banco de España, revised Sep 2019.
    56. Riccardo M Masolo, 2022. "Mainly employment: survey-based news and the business cycle," Bank of England working papers 958, Bank of England.
    57. Rujiwattanapong, W. Similan, 2025. "Unemployment dynamics and endogenous unemployment insurance extensions," LSE Research Online Documents on Economics 129058, London School of Economics and Political Science, LSE Library.
    58. Bilbiie, Florin, 2017. "The Puzzle, the Power, and the Dark Side: Forward Guidance Redux," CEPR Discussion Papers 12231, C.E.P.R. Discussion Papers.
    59. Jung, Euiyoung, 2023. "Wage rigidity and destabilizing spirals," Journal of Macroeconomics, Elsevier, vol. 77(C).
    60. Kurt Mitman & Iourii Manovskii & Marcus Hagedorn, 2017. "Monetary Policy in Incomplete Market Models: Theory and Evidence," 2017 Meeting Papers 1605, Society for Economic Dynamics.
    61. Hochmuth, Brigitte & Moyen, Stephane & Stähler, Nikolai, 2019. "Labor market reforms, precautionary savings, and global imbalances," Discussion Papers 13/2019, Deutsche Bundesbank.
    62. Hagedorn, Marcus, 2018. "Prices and Inflation when Government Bonds are Net Wealth," CEPR Discussion Papers 12769, C.E.P.R. Discussion Papers.
    63. Andrea Caggese & Ander Perez-Orive & Angelo Gutierrez, 2019. "Firm Debt Deflation, Household Precautionary Savings, and the Amplification of Aggregate Shocks," 2019 Meeting Papers 1331, Society for Economic Dynamics.
    64. Fumitaka Nakamura, 2019. "Household Income, Portfolio Choice and Heterogeneous Consumption Responses to Monetary Policy Shocks," IMES Discussion Paper Series 19-E-19, Institute for Monetary and Economic Studies, Bank of Japan.
    65. Herman, Uroš & Lozej, Matija, 2023. "Who Gets Jobs Matters: Monetary Policy and the Labour Market in HANK and SAM," Research Technical Papers 10/RT/23, Central Bank of Ireland.
    66. Vincent Sterk, 2016. "The Dark Corners of the Labor Market," Discussion Papers 1603, Centre for Macroeconomics (CFM).
    67. Sterk, Vincent, 2016. "The dark corners of the labor market," LSE Research Online Documents on Economics 86244, London School of Economics and Political Science, LSE Library.
    68. Roman Sustek, 2021. "Yield curve and the business cycle in conventional times," Discussion Papers 2122, Centre for Macroeconomics (CFM).
    69. Auclert, Adrien & Rognlie, Matthew, 2020. "MPCs, MPEs and Multipliers: A Trilemma for New Keynesian Models," CEPR Discussion Papers 14977, C.E.P.R. Discussion Papers.
    70. Givens, Gregory, 2019. "Unemployment, Partial Insurance, and the Multiplier Effects of Government Spending," MPRA Paper 96811, University Library of Munich, Germany.
    71. Adrien Auclert & Matthew Rognlie & Ludwig Straub, 2018. "The Intertemporal Keynesian Cross," NBER Working Papers 25020, National Bureau of Economic Research, Inc.
    72. Anastasiia Antonova & Mykhailo Matvieiev & Céline Poilly, 2024. "Supply Shocks in the Fog: The Role of Endogenous Uncertainty," AMSE Working Papers 2427, Aix-Marseille School of Economics, France.
    73. Paul Hubert & Frédérique Savignac, 2023. "Monetary Policy and Labor Income Inequality: the Role of Extensive and Intensive Margins," Working papers 913, Banque de France.
    74. Romain Duval & Davide Furceri, 2018. "The Effects of Labor and Product Market Reforms: The Role of Macroeconomic Conditions and Policies," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 66(1), pages 31-69, March.
    75. Edouard Challe, 2018. "Uninsured Unemployment Risk and Optimal Monetary Policy," 2018 Meeting Papers 9, Society for Economic Dynamics.
    76. Concepción Foronda-Robles & Luis Galindo-Pérez-de-Azpillaga, 2016. "From initial dissemination to consolidated impact: the concept of crisis in the field of tourism," Scientometrics, Springer;Akadémiai Kiadó, vol. 109(1), pages 261-281, October.
    77. Albacete, Nicolas & Fessler, Pirmin & Pekanov, Atanas, 2025. "The role of MPC heterogeneity for fiscal policy in the euro area," Journal of Macroeconomics, Elsevier, vol. 86(C).
    78. Panovska, Irina & Zhang, Licheng, 2024. "Jobless recoveries and time variation in labor markets," Journal of Macroeconomics, Elsevier, vol. 81(C).
    79. Plamen Nemov, 2015. "Regional Reallocation and Housing Markets in a Model of Frictional Migration," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 18(4), pages 863-880, October.
    80. Zheng Gong, 2025. "When Does Household Heterogeneity Matter for Aggregate Fluctuations?," CRC TR 224 Discussion Paper Series crctr224_2025_624v2, University of Bonn and University of Mannheim, Germany, revised Sep 2025.
    81. Marta Grzeskiewicz, 2025. "Solving Heterogeneous Agent Models with Physics-informed Neural Networks," Papers 2511.20283, arXiv.org.
    82. Den Haan, Wouter & Rendahl, Pontus & Riegler, Markus, 2015. "Unemployment (Fears) and Deflationary Spirals," CEPR Discussion Papers 10814, C.E.P.R. Discussion Papers.
    83. Ravenna, Federico & Walsh, Carl, 2020. "Worker heterogeneity, selection, and employment dynamics in the face of aggregate demand and pandemic shocks," CEPR Discussion Papers 15043, C.E.P.R. Discussion Papers.
    84. Hanno Kase & Matthias Rottner & Fabio Stohler, 2025. "Generative economic modeling," BIS Working Papers 1312, Bank for International Settlements.
    85. Marco D’Amico & Martina Fazio, 2025. "Modelling income risk dynamics in the UK: a parametric approach," Bank of England working papers 1129, Bank of England.
    86. Gonzalo Paz-Pardo, 2024. "Homeownership and Portfolio Choice over the Generations," American Economic Journal: Macroeconomics, American Economic Association, vol. 16(1), pages 207-237, January.
    87. Broer, Tobias & Kramer, John & Mitman, Kurt, 2022. "The Curious Incidence of Monetary Policy Across the Income Distribution," Working Paper Series 416, Sveriges Riksbank (Central Bank of Sweden).
    88. Villarreal, Francisco G., 2016. "Monetary policy and inequality under household heterogeneity and incomplete markets," MPRA Paper 82780, University Library of Munich, Germany.
    89. Christian Bayer & Benjamin Born & Ralph Luetticke, 2020. "The Liquidity Channel of Fiscal Policy," CESifo Working Paper Series 8374, CESifo.
    90. Bilbiie, F. & Primiceri, G. E. & Tambalotti, A., 2022. "Inequality and Business Cycles," Cambridge Working Papers in Economics 2275, Faculty of Economics, University of Cambridge.
    91. Iván Werning, 2015. "Incomplete Markets and Aggregate Demand," NBER Working Papers 21448, National Bureau of Economic Research, Inc.
    92. Pinter, Gabor, 2015. "House prices and job losses," LSE Research Online Documents on Economics 86318, London School of Economics and Political Science, LSE Library.
    93. Tao Wang, 2023. "Perceived versus Calibrated Income Risks in Heterogeneous-Agent Consumption Models," Staff Working Papers 23-59, Bank of Canada.
    94. Corsetti, Giancarlo & Brendon, Charles, 2016. "COEURE Survey: Fiscal and Monetary Policies after the Crises," CEPR Discussion Papers 11088, C.E.P.R. Discussion Papers.
    95. Carlos Cañizares Martínez & Arne Gieseck, 2025. "The effects of macro uncertainty shocks in the euro area: a FAVAR approach," Empirical Economics, Springer, vol. 68(6), pages 2829-2872, June.
    96. Gálvez-Iniesta, Ismael, 2024. "The role of immigration in a deep recession," European Economic Review, Elsevier, vol. 168(C).
    97. Euiyoung Jung, 2021. "On the design of labor market programs as stabilization policies," Working Papers halshs-03243698, HAL.
    98. Darracq Pariès, Matthieu & Notarpietro, Alessandro & Kilponen, Juha & Papadopoulou, Niki & Zimic, Srečko & Aldama, Pierre & Langenus, Geert & Alvarez, Luis Julian & Lemoine, Matthieu & Angelini, Elena, 2021. "Review of macroeconomic modelling in the Eurosystem: current practices and scope for improvement," Occasional Paper Series 267, European Central Bank.
    99. Kase, Hanno & Melosi, Leonardo & Rottner, Matthias, 2024. "Estimating Nonlinear Heterogeneous Agent Models with Neural Networks," The Warwick Economics Research Paper Series (TWERPS) 1499, University of Warwick, Department of Economics.
    100. Dario Bonciani & Joonseok Oh, 2021. "Unemployment risk, liquidity traps and monetary policy," Bank of England working papers 920, Bank of England.
    101. Cui, Wei & Sterk, Vincent, 2021. "Quantitative easing with heterogeneous agents," Journal of Monetary Economics, Elsevier, vol. 123(C), pages 68-90.
    102. Daeha Cho, 2023. "Unemployment risk, MPC heterogeneity, and business cycles," Quantitative Economics, Econometric Society, vol. 14(2), pages 717-751, May.
    103. Consolo, Agostino & Hänsel, Matthias, 2024. "HANK faces unemployment," Working Paper Series 2953, European Central Bank.
    104. Orazio Attanasio & Kieran Larkin & Morten O. Ravn & Mario Padula, 2022. "(S)Cars and the Great Recession," Econometrica, Econometric Society, vol. 90(5), pages 2319-2356, September.
    105. Guidon Fenig & Luba Petersen, 2017. "Distributing scarce jobs and output: experimental evidence on the dynamic effects of rationing," Experimental Economics, Springer;Economic Science Association, vol. 20(3), pages 707-735, September.
    106. Vincent Sterk & Silvana Tenreyro, 2016. "The Transmission of Monetary Policy through Redistributions and Durable Purchases," Working Papers 1601, Council on Economic Policies.
    107. Rubén Domínguez Díaz, 2021. "Hiring Stimulus and Precautionary Savings in a Liquidity Trap," ECONtribute Discussion Papers Series 072, University of Bonn and University of Cologne, Germany.
    108. Kaas, Leo, 2023. "Block-recursive equilibria in heterogeneous-agent models," Journal of Economic Theory, Elsevier, vol. 212(C).
    109. Antonio L. Pérez-Corral & Amélia Bastos & Sara Falcão Casaca, 2024. "Employment Insecurity and Material Deprivation in Families with Children in the Post-Great Recession Period: An Analysis for Spain and Portugal," Journal of Family and Economic Issues, Springer, vol. 45(2), pages 444-457, June.
    110. Bilbiie, F. O. & Galaasen, S. M. & Gurkaynak, R. S. & Maehlum, M. & Molnar, K, 2025. "Hanksson," Cambridge Working Papers in Economics 2516, Faculty of Economics, University of Cambridge.
    111. Miescu, Mirela & Mumtaz, Haroon & Theodoridis, Konstantinos, 2024. "Non-linear Dynamics of Oil Supply News Shocks," Cardiff Economics Working Papers E2024/18, Cardiff University, Cardiff Business School, Economics Section.
    112. Bilbiie, Florin O. & Känzig, Diego R. & Surico, Paolo, 2022. "Capital and income inequality: An aggregate-demand complementarity," Journal of Monetary Economics, Elsevier, vol. 126(C), pages 154-169.
    113. Anastasiia Antonova & Mykhailo Matvieiev & Céline Poilly, 2025. "Macroeconomic Shocks in the Fog: The Role of Endogenous Uncertainty," AMSE Working Papers 2538, Aix-Marseille School of Economics, France.
    114. Oliver Pfäuti & Fabian Seyrich, 2022. "A Behavioral Heterogeneous Agent New Keynesian Model," Discussion Papers of DIW Berlin 1995, DIW Berlin, German Institute for Economic Research.
    115. McKay, Alisdair & Reis, Ricardo, 2016. "The role of automatic stabilizers in the U.S. business cycle," LSE Research Online Documents on Economics 64479, London School of Economics and Political Science, LSE Library.
    116. Bilbiie, Florin O., 2020. "The New Keynesian cross," Journal of Monetary Economics, Elsevier, vol. 114(C), pages 90-108.
    117. Ambrocio, Gene, 2019. "Measuring household uncertainty in EU countries," Bank of Finland Research Discussion Papers 17/2019, Bank of Finland.
    118. Stephane Auray & Aurelien Eyquem, 2024. "Optimal Unemployment Insurance in a THANK Model," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 53, pages 173-193, July.
    119. Federico Ravenna & Carl E. Walsh, 2022. "Worker Heterogeneity, Selection, and Unemployment Dynamics in a Pandemic," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 54(S1), pages 113-155, February.
    120. Ester Faia & Marianna Kudlyak & Ekaterina Shabalina, 2021. "Dynamic Labor Reallocation with Heterogeneous Skills and Uninsured Idiosyncratic Risk," Working Paper Series 2021-16, Federal Reserve Bank of San Francisco.
    121. Ravn, Morten O. & Sterk, Vincent, 2016. "Macroeconomic fluctuations with HANK & SAM: an analytical approach," LSE Research Online Documents on Economics 86177, London School of Economics and Political Science, LSE Library.
    122. Saman Darougheh & Renato Faccini & Leonardo Melosi & Alessandro Villa, 2025. "On-the-Job Search and Inflation Under the Microscope," Working Paper Series WP 2025-10, Federal Reserve Bank of Chicago.
    123. Ragnar Enger Juelsrud & Ella Getz Wold, 2023. "The importance of unemployment risk for individual savings," Working Papers 06/2023, Centre for Household Finance and Macroeconomic Research (HOFIMAR), BI Norwegian Business School.
    124. Philip Bunn & Jagjit Chadha & Thomas Lazarowicz & Stephen Millard & Emma Rockall, 2021. "Household debt and labour supply," Bank of England working papers 941, Bank of England.
    125. Ander Pérez Orive & Andrea Caggese, 2016. "The Interaction between Household and Firm Dynamics and the Amplification of Financial Shocks," Working Papers 866, Barcelona School of Economics.
    126. Luzie Thiel, 2023. "Monetary Policy and Inequality: A Two-way Relation," MAGKS Papers on Economics 202304, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    127. Juelsrud, Ragnar E. & Wold, Ella Getz, 2019. "The Saving and Employment Effects of Higher Job Loss Risk," Working Paper 2019/17, Norges Bank.
    128. Euiyoung Jung, 2021. "Rigid Wages, Endogenous Job Destruction, and Destabilizing Spirals," PSE Working Papers halshs-03213006, HAL.
    129. Adrien Auclert & Matthew Rognlie, 2018. "Inequality and Aggregate Demand," NBER Working Papers 24280, National Bureau of Economic Research, Inc.
    130. Jonathan Heathcote & Fabrizio Perri, 2015. "Wealth and Volatility," Staff Report 508, Federal Reserve Bank of Minneapolis.

  10. Den Haan, Wouter & Sterk, Vincent, 2009. "The Myth of Financial Innovation and the Great Moderation," CEPR Discussion Papers 7507, C.E.P.R. Discussion Papers.

    Cited by:

    1. Punzi, Maria Teresa, 2016. "Financial cycles and co-movements between the real economy, finance and asset price dynamics in large-scale crises," FinMaP-Working Papers 61, Collaborative EU Project FinMaP - Financial Distortions and Macroeconomic Performance: Expectations, Constraints and Interaction of Agents.
    2. Ion ANGHEL & Anca Maria HRISTEA, 2018. "Private brand – differentiating concept and source of stimulation of the Romanian retail trade," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(3(616), A), pages 5-24, Autumn.
    3. Joanna Błach, 2020. "Barriers to Financial Innovation—Corporate Finance Perspective," JRFM, MDPI, vol. 13(11), pages 1-23, November.
    4. Grydaki, Maria & Bezemer, Dirk, 2013. "The role of credit in the Great Moderation: A multivariate GARCH approach," Journal of Banking & Finance, Elsevier, vol. 37(11), pages 4615-4626.
    5. Kauko, Karlo & Punzi, Maria Teresa, 2015. "Testing the global banking glut hypothesis," FinMaP-Working Papers 41, Collaborative EU Project FinMaP - Financial Distortions and Macroeconomic Performance: Expectations, Constraints and Interaction of Agents.
    6. Emil Adamek & Jan Janku, 2022. "What Drives Small Business Crowdfunding? Impact of Macroeconomic and Financial Factors," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 72(2), pages 172-196, June.
    7. Boris Hofmann & Gert Peersman, 2017. "Monetary policy transmission and trade-offs in the United States: Old and new," BIS Working Papers 649, Bank for International Settlements.
    8. Roland Meeks & Benjamin Nelson & Piergiorgio Alessandri, 2013. "Shadow Banks and Macroeconomic Instability," CAMA Working Papers 2013-78, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    9. Cozzi, Gabriele & Darracq Pariès, Matthieu & Karadi, Peter & Körner, Jenny & Kok, Christoffer & Mazelis, Falk & Nikolov, Kalin & Rancoita, Elena & Van der Ghote, Alejandro & Weber, Julien, 2020. "Macroprudential policy measures: macroeconomic impact and interaction with monetary policy," Working Paper Series 2376, European Central Bank.
    10. Gebauer, Stefan & Mazelis, Falk, 2023. "Macroprudential regulation and leakage to the shadow banking sector," European Economic Review, Elsevier, vol. 154(C).
    11. Ugochi Emenogu & Brian Peterson, 2022. "Unregulated Lending, Mortgage Regulations and Monetary Policy," Staff Working Papers 22-28, Bank of Canada.
    12. Richard Higgins, C., 2020. "Financial frictions and changing macroeconomic volatility," Journal of Macroeconomics, Elsevier, vol. 64(C).
    13. Liudas Giraitis & George Kapetanios & Konstantinos Theodoridis & Tony Yates, 2014. "Estimating time-varying DSGE models using minimum distance methods," Bank of England working papers 507, Bank of England.
    14. Gebauer, Stefan & Mazelis, Falk, 2018. "The Role of Shadow Banking for Financial Regulation," VfS Annual Conference 2018 (Freiburg, Breisgau): Digital Economy 181581, Verein für Socialpolitik / German Economic Association.
    15. Andrew C. Chang & Phillip Li, 2018. "Measurement Error In Macroeconomic Data And Economics Research: Data Revisions, Gross Domestic Product, And Gross Domestic Income," Economic Inquiry, Western Economic Association International, vol. 56(3), pages 1846-1869, July.
    16. Mazelisy, Falk, 2015. "The role of shadow banking in the monetary transmission mechanism and the business cycle," SFB 649 Discussion Papers 2015-040, Humboldt University Berlin, Collaborative Research Center 649: Economic Risk.
    17. Holm-Hadulla, Fédéric & Mazelis, Falk & Rast, Sebastian, 2023. "Bank and non-bank balance sheet responses to monetary policy shocks," Economics Letters, Elsevier, vol. 222(C).
    18. Gaetano Antinolfi & Celso Brunetti, 2013. "Economic volatility and financial markets: the case of mortgage-backed securities," Finance and Economics Discussion Series 2013-42, Board of Governors of the Federal Reserve System (U.S.).
    19. Eickmeier, Sandra & Ng, Tim, 2015. "How do US credit supply shocks propagate internationally? A GVAR approach," European Economic Review, Elsevier, vol. 74(C), pages 128-145.
    20. Cafiso, Gianluca & Rivolta, Giulia, 2024. "Conventional monetary interventions through the credit channel and the rise of non-bank institutions," Economic Systems, Elsevier, vol. 48(1).
    21. Mazelis, Falk, 2014. "Monetary policy effects on financial intermediation via the regulated and the shadow banking systems," SFB 649 Discussion Papers 2014-056, Humboldt University Berlin, Collaborative Research Center 649: Economic Risk.
    22. Geoffrey Meen, 2013. "Homeownership for Future Generations in the UK," Urban Studies, Urban Studies Journal Limited, vol. 50(4), pages 637-656, March.
    23. Steven Cassou & Jesús Vázquez, 2014. "Employment comovements at the sectoral level over the business cycle," Empirical Economics, Springer, vol. 46(4), pages 1301-1323, June.
    24. Rella, Giacomo, 2025. "Time-varying interactions between monetary and housing credit policy," Journal of Macroeconomics, Elsevier, vol. 86(C).
    25. Sangyup Choi, 2018. "Bank Lending Standards, Loan Demand, and the Macroeconomy: Evidence from the Emerging Market Bank Loan Officer Survey," Working papers 2018rwp-126, Yonsei University, Yonsei Economics Research Institute.
    26. Boštjan Jazbec & Uroš Herman & Matija Lozej, 2014. "Synchronization and decoupling of cycles in Slovenia," Chapters, in: Ewald Nowotny & Doris Ritzberger-Grünwald & Peter Backé (ed.), Financial Cycles and the Real Economy, chapter 6, pages 77-95, Edward Elgar Publishing.

Articles

  1. Sterk, Vincent, 2015. "Home equity, mobility, and macroeconomic fluctuations," Journal of Monetary Economics, Elsevier, vol. 74(C), pages 16-32.

    Cited by:

    1. Stijn Claessens & M Ayhan Kose, 2018. "Frontiers of macrofinancial linkages," BIS Papers, Bank for International Settlements, number 95.
    2. Karahan, Fatih & Rhee, Serena, 2019. "Geographic reallocation and unemployment during the Great Recession: The role of the housing bust," Journal of Economic Dynamics and Control, Elsevier, vol. 100(C), pages 47-69.
    3. Andrea Camilli, 2020. "Labor market institutions and homeownership," Working Papers 440, University of Milano-Bicocca, Department of Economics, revised May 2020.
    4. Gan, Li & Wang, Pengfei & Zhang, Qinghua, 2018. "Market thickness and the impact of unemployment on housing market outcomes," Journal of Monetary Economics, Elsevier, vol. 98(C), pages 27-49.
    5. Bielecki, Marcin & Stähler, Nikolai, 2018. "Labor tax reductions in Europe: The role of property taxation," Discussion Papers 30/2018, Deutsche Bundesbank.
    6. Andrea Camilli & Pedro Gomes, 2023. "Public employment and homeownership dynamics," Public Choice, Springer, vol. 194(1), pages 101-155, January.
    7. Parkhomenko, Andrii, 2016. "Opportunity to Move: Macroeconomic Effects of Relocation Subsidies," MPRA Paper 75256, University Library of Munich, Germany.
    8. Vives Coscojuela, Cecilia, 2018. "Housing Tenure, Geographical Mobility and the Labour Market: the Role of the Employment Exit Rate," IKERLANAK 30207, Universidad del País Vasco - Departamento de Fundamentos del Análisis Económico I.
    9. Zhou, Zhengyi, 2025. "House price co-movement and labor migration: Evidence from China," Emerging Markets Review, Elsevier, vol. 69(C).
    10. Kerr, Sari Pekkala & Kerr, William R. & Nanda, Ramana, 2022. "House prices, home equity and entrepreneurship: Evidence from U.S. census micro data," Journal of Monetary Economics, Elsevier, vol. 130(C), pages 103-119.
    11. Botsch, Matthew J. & Morris, Stephen D., 2021. "Job loss risk, expected mobility, and home ownership," Journal of Housing Economics, Elsevier, vol. 53(C).
    12. Pinter, Gabor, 2015. "House prices and job losses," LSE Research Online Documents on Economics 86318, London School of Economics and Political Science, LSE Library.
    13. Daniel L. Tortorice, 2019. "Long-Run Expectations, Learning and the US Housing Market," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 45(4), pages 497-531, October.
    14. van Veldhuizen, Sander & Vogt, Benedikt & Voogt, Bart, 2020. "Negative home equity reduces household mobility: Evidence from administrative data," Journal of Housing Economics, Elsevier, vol. 47(C).
    15. Matthaei, Stephan & Stähler, Nikolai, 2016. "Macroeconomic implications of the German financial equalization system," VfS Annual Conference 2016 (Augsburg): Demographic Change 145695, Verein für Socialpolitik / German Economic Association.
    16. Chu, Shiou-Yen, 2018. "Macroeconomic policies and housing market in Taiwan," International Review of Economics & Finance, Elsevier, vol. 58(C), pages 404-421.
    17. Carlos Garriga & Aaron Hedlund, 2019. "Crises in the Housing Market: Causes, Consequences, and Policy Lessons," Working Papers 2019-33, Federal Reserve Bank of St. Louis.
    18. Marcus Moelbak Ingholt, 2017. "House Prices, Geographical Mobility, and Unemployment," Discussion Papers 17-06, University of Copenhagen. Department of Economics.
    19. Vives Coscojuela, Cecilia, 2015. "Geographical mobility and the labour market," IKERLANAK 15485, Universidad del País Vasco - Departamento de Fundamentos del Análisis Económico I.
    20. Ravn, Morten O. & Sterk, Vincent, 2017. "Job uncertainty and deep recessions," Journal of Monetary Economics, Elsevier, vol. 90(C), pages 125-141.
    21. Petr Sedlacek, 2016. "The aggregate matching function and job search from employment and out of the labor force," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 21, pages 16-28, July.

  2. Wouter J. Den Haan & Vincent Sterk, 2011. "The Myth of Financial Innovation and the Great Moderation," Economic Journal, Royal Economic Society, vol. 121(553), pages 707-739, June.
    See citations under working paper version above.
  3. Sterk, Vincent, 2010. "Credit frictions and the comovement between durable and non-durable consumption," Journal of Monetary Economics, Elsevier, vol. 57(2), pages 217-225, March.

    Cited by:

    1. M. Alper Çenesiz & Luís Guimarães, 2019. "Sticky Price Models, Durable Goods, and Real Wage Rigidities," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 51(2-3), pages 721-737, March.
    2. Lambertini, Luisa & Mendicino, Caterina & Teresa Punzi, Maria, 2013. "Leaning against boom–bust cycles in credit and housing prices," Journal of Economic Dynamics and Control, Elsevier, vol. 37(8), pages 1500-1522.
    3. Paolo Surico & Clodomiro Ferreira & James Cloyne, 2015. "Housing Debt and the Transmission of Monetary Policy," 2015 Meeting Papers 629, Society for Economic Dynamics.
    4. Dey, Jaya & Tsai, Yi-Chan, 2017. "Explaining the durable goods co-movement puzzle: A Bayesian approach," Journal of Macroeconomics, Elsevier, vol. 52(C), pages 75-99.
    5. Federico Di Pace & Christoph Gortz, 2021. "Monetary Policy, Sectoral Comovement and the Credit Channel," Discussion Papers 21-07, Department of Economics, University of Birmingham.
    6. Di Pace, Federico & Hertweck, Matthias S., 2012. "Labour Market Frictions, Monetary Policy and Durable Goods," Dynare Working Papers 20, CEPREMAP.
    7. Stephane Auray & Paul Gomme & Shen Guo, 2011. "Nominal Rigidities, Monetary Policy and Pigou Cycles," Working Papers 11007, Concordia University, Department of Economics, revised Nov 2011.
    8. Sandra Gomes, 2011. "Housing Market Dynamics: Any News?," Working Papers w201121, Banco de Portugal, Economics and Research Department.
    9. Kwang Hwan Kim & Joonseok Oh, 2014. "Collateral Constraints, Sticky Wages, and Monetary Policy," Working papers 2014rwp-63, Yonsei University, Yonsei Economics Research Institute.
    10. Rui Faustino, 2019. "Deep Habits in New Keynesian model with durable goods," Working Papers REM 2019/0106, ISEG - Lisbon School of Economics and Management, REM, Universidade de Lisboa.
    11. Caterina Mendicino, 2012. "Collateral Requirements: Macroeconomic Fluctuations and Macro-Prudential Policy," Working Papers w201211, Banco de Portugal, Economics and Research Department.
    12. Chu, Shiou-Yen, 2013. "Credit frictions and consumption dynamics in an open economy," International Review of Economics & Finance, Elsevier, vol. 27(C), pages 250-260.
    13. Alessandro Cantelmo & Giovanni Melina, 2015. "Monetary Policy and the Relative Price of Durable Goods," CESifo Working Paper Series 5328, CESifo.
    14. Harald Uhlig & Taojun Xie, 2020. "Parallel Digital Currencies and Sticky Prices," Working Papers 2020-188, Becker Friedman Institute for Research In Economics.
    15. Chen, Been-Lon & Liao, Shian-Yu, 2014. "Capital, credit constraints and the comovement between consumer durables and nondurables," Journal of Economic Dynamics and Control, Elsevier, vol. 39(C), pages 127-139.
    16. Caterina Mendicino, 2011. "On the amplification role of collateral constraints," Working Papers w201115, Banco de Portugal, Economics and Research Department.
    17. Nikolay Hristov & Oliver Hülsewig & Timo Wollmershäuser, 2010. "Financial Frictions and Inflation Differentials in a Monetary Union," CESifo Working Paper Series 3235, CESifo.
    18. Ugochi Emenogu & Leo Michelis, 2019. "Financial Frictions, Durable Goods and Monetary Policy," Staff Working Papers 19-31, Bank of Canada.
    19. Hashmat Khan & Abeer Reza, 2017. "House Prices and Government Spending Shocks," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 49(6), pages 1247-1271, September.
    20. Jesper Pedersen, 2019. "What Are the Effects of Changes in Taxation and New Types of Mortgages on the Real Economy? The Case of Denmark during the 2000s," International Journal of Central Banking, International Journal of Central Banking, vol. 15(5), pages 47-99, December.
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