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Downward Nominal Wage Rigidity, Currency Pegs, and Involuntary Unemployment

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Cited by:

  1. Andres Rodriguez-Clare & Mauricio Ulate & Jose P. Vasquez, 2020. "New-Keynesian Trade: Understanding the Employment and Welfare Effects of Trade Shocks," Working Papers 265, Princeton University, Department of Economics, Center for Economic Policy Studies..
  2. Bahadir, Berrak & De, Kuhelika & Lastrapes, William D., 2020. "Household debt, consumption and inequality," Journal of International Money and Finance, Elsevier, vol. 109(C).
  3. Anne Kathrin Funk & Daniel Kaufmann, 2022. "Do Sticky Wages Matter? New Evidence from Matched Firm Survey and Register Data," Economica, London School of Economics and Political Science, vol. 89(355), pages 689-712, July.
  4. Anzoategui, Diego, 2022. "Sovereign spreads and the effects of fiscal austerity," Journal of International Economics, Elsevier, vol. 139(C).
  5. Marco Fongoni & Daniel Schaefer & Carl Singleton, 2023. "When are wages cut? The roles of incomplete contracts and employee involvement," Working Papers hal-03953201, HAL.
  6. Siddhartha Biswas & Andrew Hanson & Toan Phan, 2020. "Bubbly Recessions," American Economic Journal: Macroeconomics, American Economic Association, vol. 12(4), pages 33-70, October.
  7. Atif Mian & Amir Sufi, 2018. "Finance and Business Cycles: The Credit-Driven Household Demand Channel," Journal of Economic Perspectives, American Economic Association, vol. 32(3), pages 31-58, Summer.
  8. Yurdagul, Emircan & Adamopoulou, Effrosyni & Manaresi, Francesco & Rachedi, Omar, 2021. "Minimum Wages and Insurance within the Firm," CEPR Discussion Papers 16823, C.E.P.R. Discussion Papers.
  9. Bhattarai, Saroj & Schwartzman, Felipe & Yang, Choongryul, 2021. "Local scars of the US housing crisis," Journal of Monetary Economics, Elsevier, vol. 119(C), pages 40-57.
  10. Daniel Schaefer & Carl Singleton, 2020. "Nominal Wage Adjustments and the Composition of Pay: New Evidence from Payroll Data," Economics Discussion Papers em-dp2020-01, Department of Economics, University of Reading.
  11. Keuschnigg, Christian & Kirschner, Linda & Kogler, Michael & Winterberg, Hannah, 2020. "Italy in the Eurozone," CEPR Discussion Papers 15040, C.E.P.R. Discussion Papers.
  12. Eijffinger, Sylvester C.W. & Kobielarz, Michał L. & Uras, Burak R., 2018. "Sovereign default, exit and contagion in a monetary union," Journal of International Economics, Elsevier, vol. 113(C), pages 1-19.
  13. Bofinger, Peter & Feld, Lars P. & Schmidt, Christoph M. & Schnabel, Isabel & Wieland, Volker, 2018. "Vor wichtigen wirtschaftspolitischen Weichenstellungen. Jahresgutachten 2018/19 [Setting the Right Course for Economic Policy. Annual Report 2018/19]," Annual Economic Reports / Jahresgutachten, German Council of Economic Experts / Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung, volume 127, number 201819.
  14. Caner, Mehmet & Fan, Qingliang & Grennes, Thomas, 2021. "Partners in debt: An endogenous non-linear analysis of the effects of public and private debt on growth," International Review of Economics & Finance, Elsevier, vol. 76(C), pages 694-711.
  15. Alina K. Bartscher & Moritz Kuhn & Moritz Schularick & Ulrike I. Steins, 2020. "Modigliani Meets Minsky: Inequality, Debt, and Financial Fragility in America, 1950-2016," Staff Reports 924, Federal Reserve Bank of New York.
  16. Müller, Karsten, 2019. "Electoral cycles in macroprudential regulation," ESRB Working Paper Series 106, European Systemic Risk Board.
  17. Corsetti, Giancarlo & Mavroeidi, Eleonora & Thwaites, Gregory & Wolf, Martin, 2019. "Step away from the zero lower bound: Small open economies in a world of secular stagnation," Journal of International Economics, Elsevier, vol. 116(C), pages 88-102.
  18. Jinill Kim & Francisco Ruge‐Murcia, 2019. "Extreme Events And Optimal Monetary Policy," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 60(2), pages 939-963, May.
  19. Saktinil Roy & David M. Kemme, 2022. "Are capital inflow bonanzas a common precursor to banking crises? A categorical data analysis," The World Economy, Wiley Blackwell, vol. 45(10), pages 3192-3223, October.
  20. Ronny Mazzocchi & Roberto Tamborini, 2021. "Current account imbalances and the Euro Area. Controversies and policy lessons," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 38(1), pages 203-234, April.
  21. Alessandro Moro, 2021. "Can capital controls promote green investments in developing countries?," Temi di discussione (Economic working papers) 1348, Bank of Italy, Economic Research and International Relations Area.
  22. Jeanne, Olivier & Korinek, Anton, 2019. "Managing credit booms and busts: A Pigouvian taxation approach," Journal of Monetary Economics, Elsevier, vol. 107(C), pages 2-17.
  23. Masashige Hamano & Francesco Pappadà, 2023. "Exchange Rate Policy and Firm Heterogeneity," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 71(3), pages 759-790, September.
  24. Jardim, Ekaterina & Solon, Gary & Vigdor, Jacob, 2019. "How Prevalent Is Downward Rigidity in Nominal Wages? Evidence from Payroll Records in Washington State," IZA Discussion Papers 12124, Institute of Labor Economics (IZA).
  25. Kris James Mitchener & Gonçalo Pina, 2016. "Pegxit Pressure: Evidence from the Classical Gold Standard," NBER Working Papers 22844, National Bureau of Economic Research, Inc.
  26. Ottonello, Pablo & Perez, Diego J. & Varraso, Paolo, 2022. "Are collateral-constraint models ready for macroprudential policy design?," Journal of International Economics, Elsevier, vol. 139(C).
  27. Acharya, Sushant & Bengui, Julien, 2018. "Liquidity traps, capital flows," Journal of International Economics, Elsevier, vol. 114(C), pages 276-298.
  28. Shigeto Kitano & Kenya Takaku, 2017. "Capital Controls and Financial Frictions in a Small Open Economy," Open Economies Review, Springer, vol. 28(4), pages 761-793, September.
  29. Paul Pichler & Flora Lutz, 2017. "Liquidity risk and financial stability regulation," Vienna Economics Papers 1701, University of Vienna, Department of Economics.
  30. Jordi Galí & Tommaso Monacelli, 2016. "Understanding the Gains from Wage Flexibility: The Exchange Rate Connection," American Economic Review, American Economic Association, vol. 106(12), pages 3829-3868, December.
  31. Jacopo Bonchi & Francesco Simone Lucidi, 2020. "How Low Interest Rates Discern the Bubbles Nature: Leveraged vs Unleveraged Bubble," Working Papers 12/20, Sapienza University of Rome, DISS.
  32. Mathias Drehmann & Mikael Juselius & Anton Korinek, 2018. "Going With the Flows: New Borrowing, Debt Service and the Transmission of Credit Booms," NBER Working Papers 24549, National Bureau of Economic Research, Inc.
  33. Kitano Shigeto & Takaku Kenya, 2018. "Capital controls as a credit policy tool in a small open economy," The B.E. Journal of Macroeconomics, De Gruyter, vol. 18(1), pages 1-19, January.
  34. Atif Mian & Ludwig Straub & Amir Sufi, 2021. "Indebted Demand," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 136(4), pages 2243-2307.
  35. Pierri, Damian Rene & Reffett, Kevin, 2021. "Memory, multiple equilibria and emerging market crises," UC3M Working papers. Economics 32871, Universidad Carlos III de Madrid. Departamento de Economía.
  36. Martinez, Joseba & Sihvonen, Markus, 2019. "Does a Currency Union Need a Capital Market Union? Risk Sharing via Banks and Markets," CEPR Discussion Papers 14220, C.E.P.R. Discussion Papers.
  37. Davis, J. Scott & Fujiwara, Ippei & Huang, Kevin X.D. & Wang, Jiao, 2021. "Foreign exchange reserves as a tool for capital account management," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 473-488.
  38. Benigno, Gianluca & Chen, Huigang & Otrok, Christopher & Rebucci, Alessandro & Young, Eric R., 2016. "Optimal capital controls and real exchange rate policies: A pecuniary externality perspective," Journal of Monetary Economics, Elsevier, vol. 84(C), pages 147-165.
  39. Menna Bizuneh, 2022. "Are We Floating Yet? Duration of Fixed Exchange Rate Regimes," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 48(1), pages 63-89, January.
  40. Michael W. L. Elsby & Gary Solon, 2019. "How Prevalent Is Downward Rigidity in Nominal Wages? International Evidence from Payroll Records and Pay Slips," Journal of Economic Perspectives, American Economic Association, vol. 33(3), pages 185-201, Summer.
  41. Terzi, Alessio, 2020. "Macroeconomic adjustment in the euro area," European Economic Review, Elsevier, vol. 128(C).
  42. Andrés Rodríguez-Clare & Mauricio Ulate & José P. Vásquez, 2020. "Trade with Nominal Rigidities: Understanding the Unemployment and Welfare Effects of the China Shock," NBER Working Papers 27905, National Bureau of Economic Research, Inc.
  43. Paul Pichler & Flora Lutz, 2017. "Liquidity risk and financial stability regulation," Vienna Economics Papers vie1701, University of Vienna, Department of Economics.
  44. Daniel Schaefer & Carl Singleton, 2023. "The Extent of Downward Nominal Wage Rigidity: New Evidence from Payroll Data," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 51, pages 60-76, December.
  45. Miescu, Mirela S., 2023. "Uncertainty shocks in emerging economies: A global to local approach for identification," European Economic Review, Elsevier, vol. 154(C).
  46. Benguria, Felipe & Matsumoto, Hidehiko & Saffie, Felipe, 2022. "Productivity and trade dynamics in sudden stops," Journal of International Economics, Elsevier, vol. 139(C).
  47. Jacopo Bonchi, 2023. "Asset Price Bubbles and Monetary Policy: Revisiting the Nexus at the Zero Lower Bound," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 47, pages 186-203, January.
  48. Kaufmann, Christoph, 2019. "Optimal fiscal substitutes for the exchange rate in monetary unions," Journal of Economic Dynamics and Control, Elsevier, vol. 103(C), pages 43-62.
  49. Sushant Acharya & Keshav Dogra, 2022. "The Side Effects of Safe Asset Creation," Journal of the European Economic Association, European Economic Association, vol. 20(2), pages 581-625.
  50. Hashimoto, Ken-ichi & Ono, Yoshiyasu & Schlegl, Matthias, 2023. "Structural unemployment, underemployment, and secular stagnation," Journal of Economic Theory, Elsevier, vol. 209(C).
  51. de Ferra, Sergio & Mitman, Kurt & Romei, Federica, 2020. "Household heterogeneity and the transmission of foreign shocks," Journal of International Economics, Elsevier, vol. 124(C).
  52. Combes, Jean-Louis & Lesuisse, Pierre, 2022. "Inflation and unemployment, new insights during the EMU accession," International Economics, Elsevier, vol. 172(C), pages 124-142.
  53. Dupor, Bill & Li, Jingchao & Li, Rong, 2019. "Sticky wages, private consumption, and Fiscal multipliers," Journal of Macroeconomics, Elsevier, vol. 62(C).
  54. Mitchener, Kris James & Pina, Gonçalo, 2020. "Pegxit pressure," Journal of International Money and Finance, Elsevier, vol. 107(C).
  55. Galli, Carlo, 2021. "Self-fulfilling debt crises, fiscal policy and investment," Journal of International Economics, Elsevier, vol. 131(C).
  56. Norring, Anni, 2022. "Taming the tides of capital: Review of capital controls and macroprudential policy in emerging economies," BoF Economics Review 1/2022, Bank of Finland.
  57. Nadav Ben Zeev, 2019. "Asymmetric Business Cycles In Emerging Market Economies," Working Papers 1909, Ben-Gurion University of the Negev, Department of Economics.
  58. Stephanie Schmitt-Grohé & Martín Uribe, 2016. "Multiple Equilibria in Open Economy Models with Collateral Constraints: Overborrowing Revisited," NBER Working Papers 22264, National Bureau of Economic Research, Inc.
  59. Yongseung Jung & Soyoung Kim & Doo Yong Yang, 2018. "Capital Control and Monetary Policy in Asian Emerging Market Economies," Asian Economic Papers, MIT Press, vol. 17(2), pages 111-134, Summer.
  60. Andrés Blanco & Bernardo Diaz de Astarloa & Andres Drenik & Christian Moser & Danilo R. Trupkin, 2022. "The evolution of the earnings distribution in a volatile economy: Evidence from Argentina," Quantitative Economics, Econometric Society, vol. 13(4), pages 1361-1403, November.
  61. Manuel Amador & Javier Bianchi & Luigi Bocola & Fabrizio Perri, 2020. "Exchange Rate Policies at the Zero Lower Bound," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 87(4), pages 1605-1645.
  62. Matschke, Johannes & Lovchikova, Marina, 2022. "Capital Controls and the Global Financial Cycle," VfS Annual Conference 2022 (Basel): Big Data in Economics 264039, Verein für Socialpolitik / German Economic Association.
  63. Kaz Miyagiwa & Yoshiyasu Ono, 2019. "Immigration and Secular Stagnation," ISER Discussion Paper 1054, Institute of Social and Economic Research, Osaka University.
  64. Philippopoulos, Apostolis & Varthalitis, Petros & Vassilatos, Vanghelis, 2017. "Fiscal consolidation and its cross-country effects," Journal of Economic Dynamics and Control, Elsevier, vol. 83(C), pages 55-106.
  65. Juan Carlos Cuestas & Javier Ordóñez & Karsten Staehr, 2019. "Unit labour costs and the dynamics of output and unemployment in the southern European crisis countries," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 46(3), pages 597-616, August.
  66. Christian Keuschnigg & Linda Kirschner & Michael Kogler & Hannah Winterberg, 2023. "Monetary union, asymmetric recession, and exit," Review of International Economics, Wiley Blackwell, vol. 31(5), pages 1833-1863, November.
  67. Ulate,Mauricio & Vasquez,Jose P. & Zarate Vasquez,Roman David, 2023. "Labor Market Effects of Global Supply Chain Disruptions," Policy Research Working Paper Series 10434, The World Bank.
  68. Guido Ascari & Jacopo Bonchi, 2022. "(Dis)Solving the Zero Lower Bound Equilibrium through Income Policy," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 54(2-3), pages 519-535, March.
  69. Zaretski, Aliaksandr, 2021. "Financial constraints, risk sharing, and optimal monetary policy," MPRA Paper 110757, University Library of Munich, Germany.
  70. Caloia, Francesco G. & Parlevliet, Jante & Mastrogiacomo, Mauro, 2023. "Staggered wages, unanticipated shocks and firms’ adjustments," Journal of Macroeconomics, Elsevier, vol. 76(C).
  71. Buchanan, Joy & Houser, Daniel, 2022. "If wages fell during a recession," Journal of Economic Behavior & Organization, Elsevier, vol. 200(C), pages 1141-1159.
  72. Schmitt-Grohé, Stephanie & Uribe, Martín, 2021. "Reviving the Salter-Swan small open economy model," Journal of International Economics, Elsevier, vol. 130(C).
  73. Christopher Otrok & Andrew Foerster & Alessandro Rebucci & Gianluca Benigno, 2017. "Estimating Macroeconomic Models of Financial Crises: An Endogenous Regime Switching Approach," 2017 Meeting Papers 572, Society for Economic Dynamics.
  74. Tomohide Mineyama, 2024. "Downward Nominal Wage Rigidity and Determinacy of Equilibrium," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 56(1), pages 305-316, February.
  75. Jacopo Bonchi, 2023. "Asset Price Bubbles and Monetary Policy: Revisiting the Nexus at the Zero Lower Bound," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 47, pages 186-203, January.
  76. Ken-ichi Hashimoto & Yoshiyasu Ono & Matthias Schlegl, 2020. "Structural Unemployment, Underemployment, and Secular Stagnation," CESifo Working Paper Series 8318, CESifo.
  77. Davide Debortoli & Mario Forni & Luca Gambetti & Luca Sala, 2020. "Asymmetric Effects of Monetary Policy Easing and Tightening," Working Papers 1205, Barcelona School of Economics.
  78. Atif Mian & Amir Sufi, 2017. "Fraudulent Income Overstatement on Mortgage Applications During the Credit Expansion of 2002 to 2005," The Review of Financial Studies, Society for Financial Studies, vol. 30(6), pages 1832-1864.
  79. Christopher J. Erceg & Andrea Prestipino & Andrea Raffo, 2018. "The Macroeconomic Effects of Trade Policy," International Finance Discussion Papers 1242, Board of Governors of the Federal Reserve System (U.S.).
  80. Shigeto Kitano & Kenya Takaku, 2018. "Capital Controls, Monetary Policy, And Balance Sheets In A Small Open Economy," Economic Inquiry, Western Economic Association International, vol. 56(2), pages 859-874, April.
  81. Marco Fongoni & Daniel Schaefer & Carl Singleton, 2023. "Why wages don't fall in jobs with incomplete contracts," Economics Discussion Papers em-dp2023-12, Department of Economics, University of Reading.
  82. Kobielarz, M.L., 2023. "Bailout dynamics in a monetary union," Journal of International Economics, Elsevier, vol. 142(C).
  83. Korinek, Anton, 2018. "Regulating capital flows to emerging markets: An externality view," Journal of International Economics, Elsevier, vol. 111(C), pages 61-80.
  84. Das, Mitali & Ordal, Hailey, 2022. "Macroeconomic stability or financial stability: How are capital controls used? Insights from a new database," Journal of Financial Stability, Elsevier, vol. 63(C).
  85. Simon P. Lloyd & Emile A. Marin, 2023. "Capital Controls and Free-Trade Agreements," Discussion Papers 2306, Centre for Macroeconomics (CFM).
  86. Bill Dupor & Jingchao Li & Rong Li, 2017. "Sticky Wages, Monetary Policy and Fiscal Policy Multipliers," Working Papers 2017-7, Federal Reserve Bank of St. Louis.
  87. Maggiori, Matteo, 2021. "International Macroeconomics With Imperfect Financial Markets," SocArXiv z8g6r, Center for Open Science.
  88. Steven J. Davis & Pawel M. Krolikowski, 2023. "Sticky Wages on the Layoff Margin," NBER Working Papers 31528, National Bureau of Economic Research, Inc.
  89. Gideon Bornstein & Guido Lorenzoni, 2018. "Moral Hazard Misconceptions: The Case of the Greenspan Put," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 66(2), pages 251-286, June.
  90. Harald Fadinger & Philipp Herkenhoff & Jan Schymik, 2023. "Quantifying the Germany Shock: Structural Reforms and Spillovers in a Currency Union," CRC TR 224 Discussion Paper Series crctr224_2023_435, University of Bonn and University of Mannheim, Germany.
  91. Lutz, Flora & Zessner-Spitzenberg, Leopold, 2023. "Sudden stops and reserve accumulation in the presence of international liquidity risk," Journal of International Economics, Elsevier, vol. 141(C).
  92. Giancarlo Corsetti & Keith Kuester & Gernot J. Müller, 2017. "Fixed on Flexible: Rethinking Exchange Rate Regimes after the Great Recession," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 65(3), pages 586-632, August.
  93. Julien Bengui & Louphou Coulibaly, 2022. "Stagflation and Topsy-Turvy Capital Flows," Staff Working Papers 22-46, Bank of Canada.
  94. Devereux, Michael B. & Young, Eric R. & Yu, Changhua, 2019. "Capital controls and monetary policy in sudden-stop economies," Journal of Monetary Economics, Elsevier, vol. 103(C), pages 52-74.
  95. Javier Bianchi & Guido Lorenzoni, 2021. "The Prudential Use of Capital Controls and Foreign Currency Reserves," NBER Working Papers 29476, National Bureau of Economic Research, Inc.
  96. Atif Mian & Amir Sufi & Emil Verner, 2017. "Household Debt and Business Cycles Worldwide," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 132(4), pages 1755-1817.
  97. Fabiani, Andrea & López-Piñeros, Martha & Peydró, José-Luis & Soto, Paul E., 2022. "Capital Controls, Domestic Macroprudential Policy and the Bank Lending Channel of Monetary Policy," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 139(November ), pages 1-1.
  98. Fornaro, Luca, 2019. "Monetary Union and Financial Integration," CEPR Discussion Papers 14216, C.E.P.R. Discussion Papers.
  99. Akıncı, Özge & Chahrour, Ryan, 2018. "Good news is bad news: Leverage cycles and sudden stops," Journal of International Economics, Elsevier, vol. 114(C), pages 362-375.
  100. Kitano, Shigeto & Takaku, Kenya, 2020. "Capital controls, macroprudential regulation, and the bank balance sheet channel," Journal of Macroeconomics, Elsevier, vol. 63(C).
  101. Kuester, Keith & Corsetti, Giancarlo & Müller, Gernot & Schmidt, Sebastian, 2021. "The Exchange Rate Insulation Puzzle," CEPR Discussion Papers 15689, C.E.P.R. Discussion Papers.
  102. Stephanie Schmitt-Grohé & Martín Uribe, 2017. "Is Optimal Capital Control Policy Countercyclical in Open Economy Models with Collateral Constraints?," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 65(3), pages 498-527, August.
  103. Farboodi, Maryam & Kondor, Peter, 2018. "Heterogeneous global cycles," LSE Research Online Documents on Economics 118911, London School of Economics and Political Science, LSE Library.
  104. Ikefuji, Masako & Ono, Yoshiyasu, 2021. "Environmental policies in a stagnant economy," Economic Modelling, Elsevier, vol. 102(C).
  105. Xiangfa Li & Zhe Zhang & Weixian Xue & Hua Wang, 2022. "The Effects of Household Debt and Oil Price Shocks on Economic Growth in the Shadow of the Pandemic," Sustainability, MDPI, vol. 14(22), pages 1-16, November.
  106. Javier Bianchi & Jorge Mondragon, 2022. "Monetary Independence and Rollover Crises," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 137(1), pages 435-491.
  107. Hidehiko Matsumoto, 2022. "Foreign Reserve Accumulation, Foreign Direct Investment, and Economic Growth," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 43, pages 241-262, January.
  108. Ben Zeev, Nadav, 2019. "Global credit supply shocks and exchange rate regimes," Journal of International Economics, Elsevier, vol. 116(C), pages 1-32.
  109. Javier Bianchi & Pablo Ottonello & Ignacio Presno, 2023. "Fiscal Stimulus under Sovereign Risk," Journal of Political Economy, University of Chicago Press, vol. 131(9), pages 2328-2369.
  110. Malinen Tuomas & Nyberg Peter & Koskenkylä Heikki & Miettinen Sami & Ala-Peijari Jukka & Törnqvist Stefan & Berghäll Elina & Mellin Ilkka, 2018. "How to Leave the Eurozone: The Case of Finland," The Economists' Voice, De Gruyter, vol. 15(1), pages 1-16, December.
  111. Korinek, Anton & Sandri, Damiano, 2016. "Capital controls or macroprudential regulation?," Journal of International Economics, Elsevier, vol. 99(S1), pages 27-42.
  112. Javier Bianchi & Cesar Sosa-Padilla, 2018. "Reserve Accumulation, Macroeconomic Stabilization and Sovereign Risk," 2018 Meeting Papers 1166, Society for Economic Dynamics.
  113. Johannes Matschke & Jun Nie, 2022. "Downward Wage Rigidities and Recession Dynamics in Advanced and Emerging Economies," Research Working Paper RWP 22-10, Federal Reserve Bank of Kansas City.
  114. Gabriel Chodorow-Reich & Gita Gopinath & Prachi Mishra & Abhinav Narayanan, 2020. "Cash and the Economy: Evidence from India’s Demonetization," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 135(1), pages 57-103.
  115. Francesco Caloia & Jante Parlevliet & Mauro Mastrogiacomo, 2021. "Staggered wages, unanticipated shocks and firms’ adjustments," Working Papers 711, DNB.
  116. Sergio Urzua & Felipe Saffie & Felipe Benguria, 2017. "Demand Shocks and Labor Market Dynamics: Firm Level Responses to a Commodity Boom," 2017 Meeting Papers 1443, Society for Economic Dynamics.
  117. Martin Wolf, 2018. "Optimal Prudential Policy in Economies with Downward Wage Rigidity," Vienna Economics Papers vie1804, University of Vienna, Department of Economics.
  118. Bacchetta, Philippe & Benhima, Kenza & Kalantzis, Yannick, 2020. "Money and capital in a persistent liquidity trap," Journal of Monetary Economics, Elsevier, vol. 116(C), pages 70-87.
  119. Yoshiyasu Ono, 2017. "Country Size, Specialization Patterns and Secular Demand Stagnation," ISER Discussion Paper 1017, Institute of Social and Economic Research, Osaka University.
  120. Dr. Matthias Burgert & Philipp Pfeiffer & Werner Roeger, 2021. "Fiscal policy in a monetary union with downward nominal wage rigidity," Working Papers 2021-16, Swiss National Bank.
  121. Andini, Corrado, 2023. "Exchange-rate policy, institutions and wages: A macroeconomic quasi-experiment from Italy, 1997–2000," International Economics, Elsevier, vol. 175(C), pages 158-170.
  122. Pierre Olivier Gourinchas, 2023. "International Macroeconomics: From the Great Financial Crisis to COVID-19, and Beyond," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 71(1), pages 1-34, March.
  123. Yoon J. Jo & Sarah Zubairy, 2021. "State dependent government spending multipliers: Downward nominal wage rigidity and sources of business cycle fluctuations," Working Papers 20210127-001, Texas A&M University, Department of Economics.
  124. Apostolis Philippopoulos & Petros Varthalitis & Vanghelis Vassilatos, 2017. "Fiscal Consolidation in an Open Economy with Sovereign Premia and without Monetary Policy Independence," International Journal of Central Banking, International Journal of Central Banking, vol. 13(4), pages 259-306, December.
  125. Maryam Farboodi & Péter Kondor, 2022. "Heterogeneous Global Booms and Busts," American Economic Review, American Economic Association, vol. 112(7), pages 2178-2212, July.
  126. Yoshiyasu Ono, 2018. "Macroeconomic Interdependence Between a Stagnant and a Fully Employed Country," The Japanese Economic Review, Japanese Economic Association, vol. 69(4), pages 450-477, December.
  127. Kaz Miyagiwa & Yoshiyasu Ono, 2019. "Immigration and Secular Stagnation," ISER Discussion Paper 1054r, Institute of Social and Economic Research, Osaka University, revised Jun 2019.
  128. JaeBin Ahn & Youngju Kim & Hyunjoon Lim, 2022. "For Whom the Levy Tolls: The Case of a Macroprudential Stability Levy in South Korea," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 70(3), pages 520-559, September.
  129. Wolf, Martin, 2020. "Pecuniary externalities in economies with downward wage rigidity," Journal of Monetary Economics, Elsevier, vol. 116(C), pages 219-235.
  130. Stéphane Dupraz & Emi Nakamura & Jón Steinsson, 2019. "A Plucking Model of Business Cycles," NBER Working Papers 26351, National Bureau of Economic Research, Inc.
  131. Illing, Gerhard & Ono, Yoshiyasu & Schlegl, Matthias, 2018. "Credit booms, debt overhang and secular stagnation," European Economic Review, Elsevier, vol. 108(C), pages 78-104.
  132. Davide Debortoli & Mario Forni & Luca Gambetti & Luca Sala, 2020. "Asymmetric monetary policy tradeoffs," Economics Working Papers 1742, Department of Economics and Business, Universitat Pompeu Fabra, revised Sep 2023.
  133. Malley, James & Philippopoulos, Apostolis, 2023. "The macroeconomic effects of funding U.S. infrastructure," European Economic Review, Elsevier, vol. 152(C).
  134. Cuadra, Gabriel & Menna, Lorenzo, 2019. "Capital flows and the business cycle," Journal of Economic Dynamics and Control, Elsevier, vol. 106(C), pages 1-1.
  135. Andrey Bedin & Alexander Kulikov & Andrey Polbin, 2023. "Copula-Based Modelling of Relationship Between Dollar/Rouble Exchange Rate and Oil Prices," Russian Journal of Money and Finance, Bank of Russia, vol. 82(3), pages 87-109, September.
  136. Pablo Ottonello & Ignacio Presno & Javier Bianchi, 2017. "Fiscal Policy, Sovereign Risk, and Unemployment," 2017 Meeting Papers 1382, Society for Economic Dynamics.
  137. Tomohide Mineyama, 2023. "Downward Nominal Wage Rigidity and Inflation Dynamics during and after the Great Recession," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 55(5), pages 1213-1244, August.
  138. Heipertz, Jonas & Mihov, Ilian & Santacreu, Ana Maria, 2022. "Managing macroeconomic fluctuations with flexible exchange rate targeting," Journal of Economic Dynamics and Control, Elsevier, vol. 135(C).
  139. Carreño, José Gabo & Uras, Burak, 2024. "Macro welfare effects of flexible labor contracts," European Economic Review, Elsevier, vol. 161(C).
  140. repec:zbw:bofrdp:2018_010 is not listed on IDEAS
  141. Siming Liu, 2018. "Spending Multiplier during Sudden Stop Crises," 2018 Meeting Papers 226, Society for Economic Dynamics.
  142. Javier Bianchi & Louphou Coulibaly, 2021. "Liquidity Traps, Prudential Policies, and International Spillovers," Working Papers 780, Federal Reserve Bank of Minneapolis.
  143. Mr. Shekhar Aiyar & Simon Voigts, 2019. "The Negative Mean Output Gap," IMF Working Papers 2019/183, International Monetary Fund.
  144. Finkelstein Shapiro, Alan, 2018. "Labor force participation, interest rate shocks, and unemployment dynamics in emerging economies," Journal of Development Economics, Elsevier, vol. 133(C), pages 346-374.
  145. Nadav Ben Zeev, 2019. "Identification of Sign-Dependency of Impulse Responses," Working Papers 1907, Ben-Gurion University of the Negev, Department of Economics.
  146. Mathias Drehmann & Mikael Juselius & Anton Korinek, 2017. "Accounting for debt service: the painful legacy of credit booms," BIS Working Papers 645, Bank for International Settlements.
  147. Matthew Rognlie & Adrien Auclert, 2016. "Inequality and Aggregate Demand," 2016 Meeting Papers 1353, Society for Economic Dynamics.
  148. Aursland, Thor Andreas & Frankovic, Ivan & Kanik, Birol & Saxegaard, Magnus, 2020. "State-dependent fiscal multipliers in NORA - A DSGE model for fiscal policy analysis in Norway," Economic Modelling, Elsevier, vol. 93(C), pages 321-353.
  149. Kai Arvai, 2021. "The Political Economy of Currency Unions," Working papers 850, Banque de France.
  150. Marina Lovchikova & Johannes Matschke, 2021. "Capital Controls and the Global Financial Cycle," Research Working Paper RWP 21-08, Federal Reserve Bank of Kansas City.
  151. Yoshiyasu Ono & Katsunori Yamada, 2018. "Difference or Ratio: Implications of Status Preference on Stagnation," Australian Economic Papers, Wiley Blackwell, vol. 57(3), pages 346-362, September.
  152. Bilge Erten & Anton Korinek & José Antonio Ocampo, 2021. "Capital Controls: Theory and Evidence," Journal of Economic Literature, American Economic Association, vol. 59(1), pages 45-89, March.
  153. Mathias Drehmann & Mikael Juselius & Anton Korinek, 2018. "Going With the Flows: New Borrowing, Debt Service and the Transmission of Credit Booms," NBER Working Papers 24549, National Bureau of Economic Research, Inc.
  154. Obstfeld, Maurice, 2020. "Harry Johnson’s “Case for Flexible Exchange Rates†– 50 Years Later," CEPR Discussion Papers 14488, C.E.P.R. Discussion Papers.
  155. Dimitrios Asteriou & Konstantinos Spanos, 2022. "Credit to private sector, household debt and economic growth: An empirical investigation of EU countries," Economics and Business Letters, Oviedo University Press, vol. 11(4), pages 34-142.
  156. Jean-François Rouillard, 2017. "Credit Crunch and Downward Nominal Wage Rigidities," Cahiers de recherche 17-05, Departement d'économique de l'École de gestion à l'Université de Sherbrooke, revised Apr 2019.
  157. Donghyun Park & Kwanho Shin & Shu Tian, 2022. "Household Debt, Corporate Debt, and the Real Economy: Some Empirical Evidence," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 58(5), pages 1474-1490, April.
  158. Ronny Mazzocchi & Roberto Tamborini, 2019. "Current Account Imbalances and the Euro Area: Alternative Views," EconPol Working Paper 27, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
  159. Hidehiko Matsumoto, 2022. "Foreign Reserve Accumulation, Foreign Direct Investment, and Economic Growth," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 43, pages 241-262, January.
  160. Hashimoto, Ken-ichi & Ono, Yoshiyasu, 2020. "A simple aggregate demand analysis with dynamic optimization in a small open economy," Economic Modelling, Elsevier, vol. 91(C), pages 89-99.
  161. J. Scott Davis & Michael B. Devereux, 2019. "Capital Controls as Macro-prudential Policy in a Large Open Economy," Globalization Institute Working Papers 358, Federal Reserve Bank of Dallas.
  162. Jonathon Hazell & Bledi Taska, 2020. "Downward Rigidity in the Wage for New Hires," Discussion Papers 2028, Centre for Macroeconomics (CFM).
  163. Stephanie Schmitt-Grohé & Martín Uribe, 2017. "Liquidity Traps and Jobless Recoveries," American Economic Journal: Macroeconomics, American Economic Association, vol. 9(1), pages 165-204, January.
  164. Kobielarz, Michal, 2018. "The economics of monetary unions," Other publications TiSEM b0293536-68ec-4905-bffd-6, Tilburg University, School of Economics and Management.
  165. Johannes Matschke, 2021. "National Interests, Spillovers and Macroprudential Coordination," Research Working Paper RWP 21-13, Federal Reserve Bank of Kansas City.
  166. Yan Carrière‐Swallow & Nicolás E. Magud & Juan F. Yépez, 2021. "Exchange rate flexibility, the real exchange rate, and adjustment to terms‐of‐trade shocks," Review of International Economics, Wiley Blackwell, vol. 29(2), pages 439-483, May.
  167. Lawrence Christiano & Martin Eichenbaum & Mathias Trabandt, 2021. "Why is Unemployment so Countercyclical?," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 41, pages 4-37, July.
  168. Rose Cunningham & Vikram Rai & Kristina Hess, 2019. "Exploring Wage Phillips Curves in Advanced Economies," Discussion Papers 2019-8, Bank of Canada.
  169. Luca Fornaro, 2022. "A Theory of Monetary Union and Financial Integration," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 89(4), pages 1911-1947.
  170. Andrew Glover, 2018. "Aggregate Effects of Minimum Wage Regulation at the Zero Lower Bound," 2018 Meeting Papers 1285, Society for Economic Dynamics.
  171. Gabriela Cugat, 2019. "Emerging markets, household heterogeneity, and exchange rate policy," 2019 Meeting Papers 526, Society for Economic Dynamics.
  172. Bengui, Julien & Bianchi, Javier, 2022. "Macroprudential policy with leakages," Journal of International Economics, Elsevier, vol. 139(C).
  173. Benigno, Pierpaolo & Eggertsson, Gauti, 2023. "It's Baaack: The Surge in Inflation in the 2020s and the Return of the Non-Linear Phillips Curve," CEPR Discussion Papers 18116, C.E.P.R. Discussion Papers.
  174. Fernández-Gallardo, Álvaro & Lloyd, Simon & Manuel, Ed, 2023. "The transmission of macroprudential policy in the tails: evidence from a narrative approach," Bank of England working papers 1027, Bank of England.
  175. Matteo Cacciatore & Federico Ravenna, 2021. "Uncertainty, Wages and the Business Cycle," The Economic Journal, Royal Economic Society, vol. 131(639), pages 2797-2823.
  176. Konstantin Egorov & Dmitry Mukhin, 2020. "Optimal Policy under Dollar Pricing," Working Papers w0261, New Economic School (NES).
  177. Monica Amici & Emmanuele Bobbio & Roberto Torrini, 2018. "Patterns of Convergence (Divergence) in the Euro Area: Profitability Versus Cost and Price Indicators," Italian Economic Journal: A Continuation of Rivista Italiana degli Economisti and Giornale degli Economisti, Springer;Società Italiana degli Economisti (Italian Economic Association), vol. 4(3), pages 367-384, November.
  178. Martinez, Joseba & Philippon, Thomas & Sihvonen, Markus, 2022. "Does a currency union need a capital market union?," Journal of International Economics, Elsevier, vol. 139(C).
  179. Chokri Zehri, 2022. "Interaction Effect of Capital Controls and Macroeconomic Policies," Economic Papers, The Economic Society of Australia, vol. 41(1), pages 15-33, March.
  180. Kriwoluzky, Alexander & Müller, Gernot J. & Wolf, Martin, 2019. "Exit expectations and debt crises in currency unions," Journal of International Economics, Elsevier, vol. 121(C).
  181. Yuta Saito, 2022. "A Note on Time Inconsistency and Endogenous Exits from a Currency Union," Games, MDPI, vol. 13(2), pages 1-8, February.
  182. Rojas, Eugenio & Saffie, Felipe, 2022. "Non-homothetic sudden stops," Journal of International Economics, Elsevier, vol. 139(C).
  183. Jean-Baptiste Michau, 2021. "Open Economy Secular Stagnation and Financial Integration," Working Papers 2021-19, Center for Research in Economics and Statistics.
  184. Menna Bizuneh & Menelik Geremew, 2021. "Assessing the Impact of Covid-19 Pandemic on Emerging Market Economies’ (EMEs) Sovereign Bond Risk Premium and Fiscal Solvency," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 47(4), pages 519-545, October.
  185. Javier Bianchi, 2022. "The Research Agenda: Javier Bianchi on Financial Crises and Prudential Policies," EconomicDynamics Newsletter, Review of Economic Dynamics, vol. 23(1), April.
  186. Martin Wolf, 2018. "Optimal Prudential Policy in Economies with Downward Wage Rigidity," Vienna Economics Papers 1804, University of Vienna, Department of Economics.
  187. Glover, Andrew, 2019. "Aggregate effects of minimum wage regulation at the zero lower bound," Journal of Monetary Economics, Elsevier, vol. 107(C), pages 114-128.
  188. Dennis Bonam & Emmanuel De Veirman & Gavin Goy, 2020. "Should developed economies manage international capital flows?," Working Papers 702, DNB.
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  190. Liu, Siming, 2022. "Government spending during sudden stop crises," Journal of International Economics, Elsevier, vol. 135(C).
  191. Christopher Clayton & Amanda Dos Santos & Matteo Maggiori & Jesse Schreger, 2022. "Internationalizing Like China," NBER Working Papers 30336, National Bureau of Economic Research, Inc.
  192. Hoffmann, Mathias & Kliem, Martin & Krause, Michael & Moyen, Stéphane & Šauer, Radek, 2021. "Rebalancing the euro area: Is wage adjustment in Germany the answer?," Journal of International Money and Finance, Elsevier, vol. 119(C).
  193. Tavares, Tiago, 2019. "Labor market distortions under sovereign debt default crises," Journal of Economic Dynamics and Control, Elsevier, vol. 108(C).
  194. Mikael Juselius & Anton Korinek & Mathias Drehmann, 2017. "Debt Service: The Painful Legacy of Credit Booms," 2017 Meeting Papers 1258, Society for Economic Dynamics.
  195. Hanson, Andrew & Phan, Toan, 2017. "Bubbles, wage rigidity, and persistent slumps," Economics Letters, Elsevier, vol. 151(C), pages 66-70.
  196. Pietro Cova & Lisa Rodano, 2019. "Relative price dynamics in the Euro area: where do we stand?," Temi di discussione (Economic working papers) 1226, Bank of Italy, Economic Research and International Relations Area.
  197. Ken-ichi Hashimoto & Yoshiyasu Ono & Matthias Schlegl, 2020. "Structural Unemployment, Underemployment, and Secular Stagnation," CESifo Working Paper Series 8318, CESifo.
  198. Yun Jung Kim & Jing Zhang, 2021. "The Relationship Between Debt and Output," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 69(1), pages 230-257, March.
  199. Felipe Benguria & Felipe Saffie & Sergio Urzúa, 2018. "The Transmission of Commodity Price Super-Cycles," NBER Working Papers 24560, National Bureau of Economic Research, Inc.
  200. Jinill Kim & Francisco Ruge‐Murcia, 2019. "Extreme Events And Optimal Monetary Policy," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 60(2), pages 939-963, May.
  201. Liang, Xiao & Rozelle, Scott & Yi, Hongmei, 2022. "The impact of COVID-19 on employment and income of vocational graduates in China: Evidence from surveys in January and July 2020," China Economic Review, Elsevier, vol. 75(C).
  202. Gintautas Radvila & Violeta Šilingienė, 2020. "Designing Remuneration Systems of Organizations for Sustainable HRM: The Core Characteristics of an Emerging Field," International Journal of Human Resource Studies, Macrothink Institute, vol. 10(2), pages 252279-2522, December.
  203. Ottonello, Pablo, 2021. "Optimal exchange-rate policy under collateral constraints and wage rigidity," Journal of International Economics, Elsevier, vol. 131(C).
  204. Tenreyro, Silvana & Drechsel, Thomas & McLeay, Michael, 2019. "Monetary policy for commodity booms and busts," CEPR Discussion Papers 14030, C.E.P.R. Discussion Papers.
  205. Matteo Maggiori, 2021. "FX policy when financial markets are imperfect," BIS Working Papers 942, Bank for International Settlements.
  206. Kazuma Inagakli, & Yoshiyasu Ono & Takayuki Tsuruga, 2022. "Accounting for the slowdown in output growth after the Great Recession: A wealth preference approach," ISER Discussion Paper 1174r, Institute of Social and Economic Research, Osaka University, revised Mar 2023.
  207. Wolf, Martin, 2020. "Pecuniary externalities in economies with downward wage rigidity," Journal of Monetary Economics, Elsevier, vol. 116(C), pages 219-235.
  208. Ben Zeev, Nadav, 2017. "Capital controls as shock absorbers," Journal of International Economics, Elsevier, vol. 109(C), pages 43-67.
  209. Maurice Obstfeld, 2020. "Harry Johnson's “Case for flexible exchange rates”—50 years later," Manchester School, University of Manchester, vol. 88(S1), pages 86-113, September.
  210. Takefumi Yamazaki, 2018. "Financial friction sources in emerging economies: Structural estimation of sovereign default models," Discussion papers ron303, Policy Research Institute, Ministry of Finance Japan.
  211. Nadav Ben Zeev, 2017. "Exchange Rate Regimes And Sudden Stops," Working Papers 1712, Ben-Gurion University of the Negev, Department of Economics.
  212. Jean‐François Rouillard, 2023. "Credit Crunch and Downward Nominal Wage Rigidities," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 55(4), pages 889-914, June.
  213. Loipersberger, Florian & Matschke, Johannes, 2022. "Financial cycles and domestic policy choices," European Economic Review, Elsevier, vol. 143(C).
  214. repec:zbw:bofrdp:2017_012 is not listed on IDEAS
  215. Markus Sihvonen, 2023. "Equity Home Bias in a Capital Market Union," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 71(4), pages 953-999, December.
  216. Qiao Wang & Haizhen Yang & Xiangjuan Cheng, 2020. "Impact of Global Low Interest Rates to the Capital Flows and Financial Vulnerability of Small Open Economies," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 10(4), pages 449-468, April.
  217. Atif Mian & Amir Sufi & Emil Verner, 2017. "How do Credit Supply Shocks Affect the Real Economy? Evidence from the United States in the 1980s," NBER Working Papers 23802, National Bureau of Economic Research, Inc.
  218. Santiago Camara & Maximo Sangiacomo, 2022. "Borrowing Constraints in Emerging Markets," Papers 2211.10864, arXiv.org.
  219. Shen, Wenyi & Yang, Shu-Chun S., 2018. "Downward nominal wage rigidity and state-dependent government spending multipliers," Journal of Monetary Economics, Elsevier, vol. 98(C), pages 11-26.
  220. Mr. Adrian Alter & Alan Xiaochen Feng & Nico Valckx, 2018. "Understanding the Macro-Financial Effects of Household Debt: A Global Perspective," IMF Working Papers 2018/076, International Monetary Fund.
  221. Mathias Drehmann & Mikael Juselius & Anton Korinek, 2017. "Accounting for debt service: the painful legacy of credit booms," BIS Working Papers 645, Bank for International Settlements.
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