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Carlos Thomas

Citations

Many of the citations below have been collected in an experimental project, CitEc, where a more detailed citation analysis can be found. These are citations from works listed in RePEc that could be analyzed mechanically. So far, only a minority of all works could be analyzed. See under "Corrections" how you can help improve the citation analysis.

Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Galo Nuño & Carlos Thomas, 2016. "Optimal monetary policy with heterogeneous agents (Updated September 2019)," Working Papers 1624, Banco de España, revised Sep 2019.

    Mentioned in:

    1. Optimal monetary policy with heterogeneous agents
      by Christian Zimmermann in NEP-DGE blog on 2016-11-10 21:12:53
  2. James Costain & Juan F. Jimeno & Carlos Thomas, 2010. "Employment fluctuations in a dual labor market," Working Papers 1013, Banco de España.

    Mentioned in:

    1. El paro de agosto y otros “abusos”
      by Florentino Felgueroso in Nada Es Gratis on 2011-09-02 12:43:27
  3. Thomas, Carlos, 2008. "Search and matching frictions and optimal monetary policy," Journal of Monetary Economics, Elsevier, vol. 55(5), pages 936-956, July.

    Mentioned in:

    1. Interregional mobility and monetary policy
      by BankUnderground in Bank Underground on 2019-07-12 08:00:08

Working papers

  1. James Costain & Galo Nuño & Carlos Thomas, 2022. "The Term Structure of Interest Rates in a Heterogeneous Monetary Union," CESifo Working Paper Series 9844, CESifo.

    Cited by:

    1. Dirk Broeders & Leo de Haan & Jan Willem van den End, 2022. "How QE changes the nature of sovereign risk," Working Papers 737, DNB.
    2. Christophe Blot & Caroline Bozou & Jérôme Creel & Paul Hubert, 2022. "The Conditional Path of Central Bank Asset Purchases," Working papers 885, Banque de France.
    3. Dimitris Malliaropulos & Petros Migiakis, 2022. "A global monetary policy factor in sovereign bond yields," Working Papers 301, Bank of Greece.
    4. Jouvanceau, Valentin & Mikaliunaite-Jouvanceau, Ieva, 2023. "ECB monetary communications: Market fragmentation at stake," Economics Letters, Elsevier, vol. 225(C).
    5. Pablo Burriel & Mar Delgado-Téllez & Camila Figueroa & Iván Kataryniuk & Javier J. Pérez, 2024. "Estimating the contribution of macroeconomic factors to sovereign bond spreads in the euro area," Working Papers 2408, Banco de España.
    6. Bonam, Dennis & Ciccarelli, Matteo & Gomes, Sandra & Aldama, Pierre & Bańkowski, Krzysztof & Buss, Ginters & da Costa, José Cardoso & Christoffel, Kai & Elfsbacka Schmöller, Michaela & Jacquinot, Pasc, 2024. "Challenges for monetary and fiscal policy interactions in the post-pandemic era," Occasional Paper Series 337, European Central Bank.
    7. Nissinen, Juuso & Sihvonen, Markus, 2022. "Bond convenience curves and funding costs," Bank of Finland Research Discussion Papers 11/2022, Bank of Finland.
    8. Jappelli, Ruggero & Pelizzon, Loriana & Subrahmanyam, Marti G., 2023. "Quantitative easing, the repo market, and the term structure of interest rates," SAFE Working Paper Series 395, Leibniz Institute for Financial Research SAFE.
    9. Motto, Roberto & Özen, Kadir, 2022. "Market-stabilization QE," Working Paper Series 2640, European Central Bank.

  2. Pablo Aguilar & Óscar Arce & Samuel Hurtado & Jaime Martínez-Martín & Galo Nuño & Carlos Thomas, 2020. "The ECB monetary policy response to the Covid-19 crisis," Occasional Papers 2026, Banco de España.

    Cited by:

    1. Pana Alves & Lucio San Juan, 2021. "The impact of the COVID-19 health crisis on the housing market in Spain," Economic Bulletin, Banco de España, issue 2/2021.
    2. Nelimarkka, Jaakko & Laine, Olli-Matti, 2021. "The effects of the ECB's pandemic-related monetary policy measures," BoF Economics Review 4/2021, Bank of Finland.
    3. Eleni Argiri & Ifigeneia Skotida, 2021. "The 2021 review of the monetary policy strategy of the Eurosystem: an economy of forces," Economic Bulletin, Bank of Greece, issue 54, pages 23-57, December.
    4. Mauro Paoloni & Massimiliano Celli, 2023. "The Covid-19 Pandemic and the Eurozone: A Reconnaissance of E.U. Financial Assistance to Counteract the Coronavirus’s Perfect Storm," International Journal of Business and Management, Canadian Center of Science and Education, vol. 16(7), pages 1-72, February.
    5. Wang, Hao & Xu, Ning & Yin, Haiyan & Ji, Hao, 2022. "The dynamic impact of monetary policy on financial stability in China after crises," Pacific-Basin Finance Journal, Elsevier, vol. 75(C).
    6. Alejandro Buesa & Coral García & Iván Kataryniuk & César Martín-Machuca & Susana Moreno & Moritz Roth, 2020. "Brexit: situation and economic consequences," Economic Bulletin, Banco de España, issue 4/2020.

  3. Javier Andres & Oscar Arce & Dominik Thaler & Carlos Thomas, 2020. "Online Appendix to "When Fiscal Consolidation Meets Private Deleveraging"," Online Appendices 18-471, Review of Economic Dynamics.

    Cited by:

    1. Thierry Betti & Thomas Coudert, 2022. "How harmful are cuts in public employment and wage in times of high unemployment?," Post-Print hal-03982745, HAL.
    2. Guglielmo Maria Caporale & Luis A. Gil-Alana & Maria Malmierca, 2021. "Persistence in the Private Debt-to-GDP Ratio: Evidence from 43 OECD Countries," CESifo Working Paper Series 8889, CESifo.
    3. Maria Malmierca-Ordoqui & Luis A. Gil-Alana & Lorenzo Bermejo, 2024. "Private and public debt convergence: a fractional cointegration approach," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 51(1), pages 161-183, February.
    4. Óscar Arce & Iván Kataryniuk & Paloma Marín & Javier J. Pérez, 2020. "Reflexiones sobre el diseño de un Fondo de Recuperación europeo," Occasional Papers 2014, Banco de España.
    5. Cusato Novelli, Antonio & Barcia, Giancarlo, 2021. "Sovereign Risk, Public Investment and the Fiscal Policy Stance," Journal of Macroeconomics, Elsevier, vol. 67(C).
    6. Pablo Burriel & Cristina Checherita-Westphal & Pascal Jacquinot & Matthias Schön & Nikolai Stähler, 2020. "Economic consequences of high public debt: evidence from three large scale DSGE models," Working Papers 2029, Banco de España.
    7. Juan Carlos Cuestas & Luis A. Gil-Alana & María Malmierca, 2022. "Credit-to-GDP ratios – non-linear trends and persistence: evidence from 44 OECD economies," Journal of Economic Studies, Emerald Group Publishing Limited, vol. 50(3), pages 448-463, March.
    8. Júlia Brunet & Susana Párraga, 2021. "Fiscal rebalancing plans in the medium term: the case of the United Kingdom," Economic Bulletin, Banco de España, issue 2/2021.

  4. Galo Nuño & Carlos Thomas, 2020. "Optimal Monetary Policy with Heterogeneous Agents," CESifo Working Paper Series 8670, CESifo.

    Cited by:

    1. Brand, Claus & Obstbaum, Meri & Coenen, Günter & Sondermann, David & Lydon, Reamonn & Ajevskis, Viktors & Hammermann, Felix & Angino, Siria & Hernborg, Nils & Basso, Henrique & Hertweck, Matthias & Bi, 2021. "Employment and the conduct of monetary policy in the euro area," Occasional Paper Series 275, European Central Bank.
    2. Stefano Maria Corbellini, 2022. "Optimal monetary and transfer policy in a liquidity trap," Diskussionsschriften dp2216, Universitaet Bern, Departement Volkswirtschaft.

  5. Óscar Arce & Galo Nuño & Dominik Thaler & Carlos Thomas, 2018. "A large central bank balance sheet? floor vs corridor systems in a new keynesian environment," Working Papers 1851, Banco de España.

    Cited by:

    1. Benigno, Pierpaolo & Benigno, Gianluca, 2022. "Managing Monetary Policy Normalization," CEPR Discussion Papers 17290, C.E.P.R. Discussion Papers.
    2. Saki Bigio & Javier Bianchi, 2014. "Banks, Liquidity Management and Monetary Policy," 2014 Meeting Papers 489, Society for Economic Dynamics.
    3. Jorge Abad & Galo Nuño & Carlos Thomas, 2024. "CBDC and the operational framework of monetary policy," Working Papers 2404, Banco de España.
    4. Corradin, Stefano & Eisenschmidt, Jens & Hoerova, Marie & Linzert, Tobias & Schepens, Glenn & Sigaux, Jean-David, 2020. "Money markets, central bank balance sheet and regulation," Working Paper Series 2483, European Central Bank.
    5. Peter Paz, 2022. "Bank capitalization heterogeneity and monetary policy," Working Papers 2234, Banco de España.
    6. Robert Gmeiner, 2022. "The Chemistry of the Macroeconomy," Journal of Business Cycle Research, Springer;Centre for International Research on Economic Tendency Surveys (CIRET), vol. 18(3), pages 289-313, November.
    7. Begoña Domínguez & Pedro Gomis‐Porqueras, 2023. "Normalizing the Central Bank's Balance Sheet: Implications for Inflation and Debt Dynamics," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 55(4), pages 945-974, June.

  6. Galo Nuño & Carlos Thomas, 2016. "Optimal monetary policy with heterogeneous agents (Updated September 2019)," Working Papers 1624, Banco de España, revised Sep 2019.

    Cited by:

    1. Jesús Fernández‐Villaverde & Samuel Hurtado & Galo Nuño, 2023. "Financial Frictions and the Wealth Distribution," Econometrica, Econometric Society, vol. 91(3), pages 869-901, May.
    2. Adrien Auclert & Matthew Rognlie & Ludwig Straub, 2020. "Micro Jumps, Macro Humps: Monetary Policy and Business Cycles in an Estimated HANK Model," CESifo Working Paper Series 8051, CESifo.
    3. 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.
    4. 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.

  7. Thomas, Carlos & Hurtado, Samuel & Arce, Óscar, 2016. "Policy spillovers and synergies in a monetary union," Working Paper Series 1942, European Central Bank.

    Cited by:

    1. Maria Manuel Campos & Cristina Checherita-Westphal, 2019. "Economic consequences of high public debt and challenges ahead for the euro area," Working Papers o201904, Banco de Portugal, Economics and Research Department.
    2. Stähler, Nikolai, 2019. "Who benefits from using property taxes to finance a labor tax wedge reduction?," Journal of Housing Economics, Elsevier, vol. 46(C).
    3. Javier Andrés & Óscar Arce & Jesús Fernández-Villaverde & Samuel Hurtado, 2020. "Deciphering the Macroeconomic Effects of Internal Devaluations in a Monetary Union," NBER Working Papers 27347, National Bureau of Economic Research, Inc.
    4. Mario Alloza & Javier Andrés & Pablo Burriel & Iván Kataryniuk & Javier J. Pérez & Juan Luis Vega, 2021. "La reforma del marco de gobernanza de la política fiscal de la Unión Europea en un nuevo entorno macroeconómico," Occasional Papers 2121, Banco de España.
    5. Mario Alloza & Javier Andrés & Pablo Burriel & Iván Kataryniuk & Javier J. Pérez & Juan Luis Vega, 2021. "The reform of the european Union’s fiscal governance Framework in a new Macroeconomic environment," Occasional Papers 2121, Banco de España.
    6. Javier Andrés & Pablo Burriel & Wenyi Shen, 2020. "Debt sustainability and fiscal space in a heterogeneous Monetary Union: normal times vs the zero lower bound," Working Papers 2001, Banco de España.
    7. Coenen, Günter & Montes-Galdón, Carlos & Saint Guilhem, Arthur & Hutchinson, John & Motto, Roberto, 2022. "Rate forward guidance in an environment of large central bank balance sheets: a Eurosystem stock-taking assessment," Occasional Paper Series 290, European Central Bank.
    8. Óscar Arce & Iván Kataryniuk & Paloma Marín & Javier J. Pérez, 2020. "Reflexiones sobre el diseño de un Fondo de Recuperación europeo," Occasional Papers 2014, Banco de España.
    9. Ciccarelli, Matteo & Osbat, Chiara, 2017. "Low inflation in the euro area: Causes and consequences," Occasional Paper Series 181, European Central Bank.
    10. Bańbura, Marta & Albani, Maria & Ambrocio, Gene & Bursian, Dirk & Buss, Ginters & de Winter, Jasper & Gavura, Miroslav & Giordano, Claire & Júlio, Paulo & Le Roux, Julien & Lozej, Matija & Malthe-Thag, 2018. "Business investment in EU countries," Occasional Paper Series 215, European Central Bank.
    11. Silvia Albrizio & José Federico Geli, 2021. "An empirical analysis of the determinants that can boost next generation EU´s effectiveness," Economic Bulletin, Banco de España, issue 4/2021.
    12. M. Deroose & A. Stevens, 2017. "Low inflation in the euro area : Causes and consequences," Economic Review, National Bank of Belgium, issue i, pages 111-125, June.
    13. Bielecki, Marcin & Stähler, Nikolai, 2018. "Labor tax reductions in Europe: The role of property taxation," Discussion Papers 30/2018, Deutsche Bundesbank.
    14. J. Boeckx & M. Deroose, 2016. "Monetary and fiscal policies in the euro area : independent but nevertheless connected," Economic Review, National Bank of Belgium, issue ii, pages 7-25, september.
    15. Pablo Burriel & Cristina Checherita-Westphal & Pascal Jacquinot & Matthias Schön & Nikolai Stähler, 2020. "Economic consequences of high public debt: evidence from three large scale DSGE models," Working Papers 2029, Banco de España.
    16. Masuch, Klaus & Anderton, Robert & Setzer, Ralph & Benalal, Nicholai, 2018. "Structural policies in the euro area," Occasional Paper Series 210, European Central Bank.
    17. Bank for International Settlements, 2019. "Unconventional monetary policy tools: a cross-country analysis," CGFS Papers, Bank for International Settlements, number 63, december.
    18. Bańkowski, Krzysztof & Bouabdallah, Othman & Domingues Semeano, João & Dorrucci, Ettore & Freier, Maximilian & Jacquinot, Pascal & Modery, Wolfgang & Rodríguez-Vives, Marta & Valenta, Vilém & Zorell, , 2022. "The economic impact of Next Generation EU: a euro area perspective," Occasional Paper Series 291, European Central Bank.
    19. Hughes Hallett, Andrew & Mavrodimitrakis, Christos, 2019. "Cooperation vs. leadership in a core-periphery monetary union: Inter-country vs. inter-institutional policy coordination," Journal of Macroeconomics, Elsevier, vol. 59(C), pages 103-122.

  8. Javier Andrés & Óscar Arce & Carlos Thomas, 2016. "When fiscal consolidation meets private deleveraging," Working Papers 1622, Banco de España.

    Cited by:

    1. Maria Manuel Campos & Cristina Checherita-Westphal, 2019. "Economic consequences of high public debt and challenges ahead for the euro area," Working Papers o201904, Banco de Portugal, Economics and Research Department.
    2. Thierry Betti & Thomas Coudert, 2022. "How harmful are cuts in public employment and wage in times of high unemployment?," Post-Print hal-03982745, HAL.
    3. Eduardo Garzón Espinosa & Bibiana Medialdea García & Esteban Cruz Hidalgo, 2021. "Fiscal Policy Approaches: An Inquiring Look From The Modern Monetary Theory," Journal of Economic Issues, Taylor & Francis Journals, vol. 55(4), pages 999-1022, October.
    4. Guglielmo Maria Caporale & Luis A. Gil-Alana & Maria Malmierca, 2021. "Persistence in the Private Debt-to-GDP Ratio: Evidence from 43 OECD Countries," CESifo Working Paper Series 8889, CESifo.
    5. Maria Malmierca-Ordoqui & Luis A. Gil-Alana & Lorenzo Bermejo, 2024. "Private and public debt convergence: a fractional cointegration approach," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 51(1), pages 161-183, February.
    6. Óscar Arce & Iván Kataryniuk & Paloma Marín & Javier J. Pérez, 2020. "Reflexiones sobre el diseño de un Fondo de Recuperación europeo," Occasional Papers 2014, Banco de España.
    7. Cusato Novelli, Antonio & Barcia, Giancarlo, 2021. "Sovereign Risk, Public Investment and the Fiscal Policy Stance," Journal of Macroeconomics, Elsevier, vol. 67(C).
    8. Pablo Burriel & Cristina Checherita-Westphal & Pascal Jacquinot & Matthias Schön & Nikolai Stähler, 2020. "Economic consequences of high public debt: evidence from three large scale DSGE models," Working Papers 2029, Banco de España.
    9. Janda, Karel & Kravtsov, Oleg, 2017. "Time-varying Effects of Public Debt on the Financial and Banking Development in the Central and Eastern Europe," MPRA Paper 77325, University Library of Munich, Germany.
    10. Juan Carlos Cuestas & Luis A. Gil-Alana & María Malmierca, 2022. "Credit-to-GDP ratios – non-linear trends and persistence: evidence from 44 OECD economies," Journal of Economic Studies, Emerald Group Publishing Limited, vol. 50(3), pages 448-463, March.
    11. Júlia Brunet & Susana Párraga, 2021. "Fiscal rebalancing plans in the medium term: the case of the United Kingdom," Economic Bulletin, Banco de España, issue 2/2021.

  9. Galo Nuño & Carlos Thomas, 2015. "Monetary policy and sovereign debt vulnerability," Working Papers 1517, Banco de España.

    Cited by:

    1. Jorge Alonso-Ortiz & Esteban Colla & José-María Da-Rocha, 2017. "The productivity cost of sovereign default: evidence from the European debt crisis," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 64(4), pages 611-633, December.
    2. Aguiar, M. & Chatterjee, S. & Cole, H. & Stangebye, Z., 2016. "Quantitative Models of Sovereign Debt Crises," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 1697-1755, Elsevier.
    3. Engler, Philipp & Grosse Steffen, Christoph, 2015. "Sovereign risk, interbank freezes, and aggregate fluctuations," Working Paper Series 1840, European Central Bank.
    4. Sunder-Plassmann, Laura, 2020. "Infation, default and sovereign debt: The role of denomination and ownership," Journal of International Economics, Elsevier, vol. 127(C).
    5. Carré, Sylvain & Cohen, Daniel & Villemot, Sébastien, 2019. "The sources of sovereign risk: a calibration based on Lévy stochastic processes," Journal of International Economics, Elsevier, vol. 118(C), pages 31-43.
    6. Rebelo, Sérgio & Wang, Neng & Yang, Jinqiang, 2018. "Rare Disasters, Financial Development, and Sovereign Debt," CEPR Discussion Papers 13202, C.E.P.R. Discussion Papers.
    7. Ricardo Sabbadini, 2018. "Overcoming the Original Sin: gains from local currency external debt," Working Papers Series 484, Central Bank of Brazil, Research Department.
    8. Sewon Hur & Illenin O. Kondo & Fabrizio Perri, 2018. "Inflation, Debt, and Default," Working Papers (Old Series) 1812, Federal Reserve Bank of Cleveland.
    9. Ricardo Sabbadini, 2018. "Loss Aversion and Search for Yield in Emerging Markets Sovereign Debt," Working Papers, Department of Economics 2018_16, University of São Paulo (FEA-USP).
    10. Bolton, Patrick & Huang, Haizhou, 2017. "The Capital Structure of Nations," CEPR Discussion Papers 12157, C.E.P.R. Discussion Papers.
    11. Galo Nuño & Carlos Thomas, 2016. "Optimal monetary policy with heterogeneous agents (Updated September 2019)," Working Papers 1624, Banco de España, revised Sep 2019.
    12. Bacchetta, Philippe & Perazzi, Elena & van Wincoop, Eric, 2018. "Self-fulfilling debt crises: What can monetary policy do?," Journal of International Economics, Elsevier, vol. 110(C), pages 119-134.
    13. Ogrokhina, Olena & Rodriguez, Cesar M., 2019. "The effect of inflation targeting and financial openness on currency composition of sovereign international debt," Journal of International Money and Finance, Elsevier, vol. 97(C), pages 1-18.

  10. Gregory de Walque & Juha Kilponen & Massimiliano Pisani & Sebastian Schmidt & Vesna Corbo & Tibor Hledik & Josef Hollmayr & Samuel Hurtado & Paulo Júlio & Dmitry Kulikov & Matthieu Lemoine & Matija Lo, 2015. "Comparing fiscal multipliers across models and countries in Europe," Working Paper Research 278, National Bank of Belgium.

    Cited by:

    1. Wang, Shu-Ling, 2021. "Fiscal stimulus in a high-debt economy? A DSGE analysis," Economic Modelling, Elsevier, vol. 98(C), pages 118-135.
    2. Jacquinot, Pascal & Lozej, Matija & Pisani, Massimiliano, 2018. "Labour tax reforms, cross-country coordination and the monetary policy stance in the euro area: A structural model-based approach," Research Technical Papers 2/RT/18, Central Bank of Ireland.
    3. Patrick Blagrave & Giang Ho & Ksenia Koloskova & Mr. Esteban Vesperoni, 2017. "Fiscal Spillovers: The Importance of Macroeconomic and Policy Conditions in Transmission," IMF Spillover Notes 2017/002, International Monetary Fund.
    4. Gadatsch, Niklas & Hauzenberger, Klemens & Stähler, Nikolai, 2015. "German and the rest of euro area fiscal policy during the crisis," Discussion Papers 05/2015, Deutsche Bundesbank.
    5. Christopher L. House & Christian Proebsting & Linda L. Tesar, 2019. "Austerity in the Aftermath of the Great Recession," Working Papers 672, Research Seminar in International Economics, University of Michigan.
    6. Wieland, V. & Afanasyeva, E. & Kuete, M. & Yoo, J., 2016. "New Methods for Macro-Financial Model Comparison and Policy Analysis," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 1241-1319, Elsevier.
    7. Wei Dong & Geoffrey Dunbar & Christian Friedrich & Dmitry Matveev & Romanos Priftis & Lin Shao, 2021. "Complementarities Between Fiscal Policy and Monetary Policy—Literature Review," Discussion Papers 2021-4, Bank of Canada.
    8. Amendola, Adalgiso & Di Serio, Mario & Fragetta, Matteo & Melina, Giovanni, 2020. "The euro-area government spending multiplier at the effective lower bound," European Economic Review, Elsevier, vol. 127(C).
    9. Eduardo Garzón Espinosa & Bibiana Medialdea García & Esteban Cruz Hidalgo, 2021. "Fiscal Policy Approaches: An Inquiring Look From The Modern Monetary Theory," Journal of Economic Issues, Taylor & Francis Journals, vol. 55(4), pages 999-1022, October.
    10. Lozej, Matija, 2019. "Economic migration and business cycles in a small open economy with matching frictions," Economic Modelling, Elsevier, vol. 81(C), pages 604-620.
    11. Font, Barbara Castelletti & Clerc, Pierrick & Lemoine, Matthieu, 2018. "Should euro area countries cut taxes on labour or capital in order to boost their growth?," Economic Modelling, Elsevier, vol. 71(C), pages 279-288.
    12. Gadatsch, Niklas & Hauzenberger, Klemens & Stähler, Nikolai, 2016. "Fiscal policy during the crisis: A look on Germany and the Euro area with GEAR," Economic Modelling, Elsevier, vol. 52(PB), pages 997-1016.
    13. Zuzana Molnarova, 2020. "Industry evidence and the vanishing cyclicality of labor productivity," Vienna Economics Papers vie2001, University of Vienna, Department of Economics.
    14. Harris Dellas & Dimitris Malliaropulos & Dimitris Papageorgiou & Evangelia Vourvachaki, 2017. "Fiscal policy with an informal sector," Working Papers 235, Bank of Greece.
    15. Iván Kataryniuk & Javier Vallés, 2015. "Fiscal consolidation after the Great Recession:the role of composition," Working Papers 1515, Banco de España.
    16. Lenarčič, Črt, 2019. "Inflation – Harrod-Balassa-Samuelson effect in a DSGE model setting," MPRA Paper 101199, University Library of Munich, Germany.
    17. Vaz de Castro, Afonso, 2022. "Risk Aversion and Recessive Impacts of Austerity," MPRA Paper 111875, University Library of Munich, Germany.
    18. van der Wielen, Wouter, 2020. "The macroeconomic effects of tax changes: Evidence using real-time data for the European Union," Economic Modelling, Elsevier, vol. 90(C), pages 302-321.
    19. AMENDOLA, Adalgiso & DI SERIO, Mario & FRAGETTA, Matteo, 2018. "The Government Spending Multiplier at the Zero Lower Bound: Evidence from the Euro Area," CELPE Discussion Papers 153, CELPE - CEnter for Labor and Political Economics, University of Salerno, Italy.
    20. Baumann, Ursel & Lodge, David & Miescu, Mirela S., 2019. "Global growth on life support? The contributions of fiscal and monetary policy since the global financial crisis," Working Paper Series 2248, European Central Bank.
    21. Nicholas E. Karavitis, 2018. "Fiscal adjustment and debt sustainability: Greece 2010-2016 and beyond," Working Papers 245, Bank of Greece.
    22. Binder, Michael & Lieberknecht, Philipp & Quintana, Jorge & Wieland, Volker, 2017. "Model uncertainty in macroeconomics: On the implications of financial frictions," IMFS Working Paper Series 114, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
    23. Philipp Engler & Juha Tervala, 2016. "Hysteresis and Fiscal Policy," Discussion Papers of DIW Berlin 1631, DIW Berlin, German Institute for Economic Research.
    24. Pablo Burriel & Cristina Checherita-Westphal & Pascal Jacquinot & Matthias Schön & Nikolai Stähler, 2020. "Economic consequences of high public debt: evidence from three large scale DSGE models," Working Papers 2029, Banco de España.
    25. António Afonso & Jaromír Baxa & Michal Slavík, 2011. "Fiscal developments and financial stress: a threshold VAR analysis," Working Papers IES 2011/16, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised Aug 2011.
    26. Kilponen, Juha & Orjasniemi, Seppo & Ripatti, Antti & Verona, Fabio, 2016. "The Aino 2.0 model," Bank of Finland Research Discussion Papers 16/2016, Bank of Finland.
    27. Clancy, Daragh & Jacquinot, Pascal & Lozej, Matija, 2016. "Government expenditure composition and fiscal policy spillovers in small open economies within a monetary union," Journal of Macroeconomics, Elsevier, vol. 48(C), pages 305-326.
    28. Eddie Gerba, 2018. "What is the Fiscal Stress in Euro Area? Evidence from a Joint Monetary-Fiscal Structural Model," Revista ESPE - Ensayos Sobre Política Económica, Banco de la República, vol. 36(85), pages 21-47, November.
    29. Cavallari, Lilia & Romano, Simone, 2017. "Fiscal policy in Europe: The importance of making it predictable," Economic Modelling, Elsevier, vol. 60(C), pages 81-97.
    30. Noel Rapa, 2017. "Estimates of Fiscal Multipliers using MEDSEA," CBM Working Papers WP/04/2017, Central Bank of Malta.
    31. Aaron G. Grech & Brian Micallef & Sandra Zerafa & Tiziana M. Gauci (ed.), 2018. "The Central Bank of Malta’s First Fifty Years: A Solid Foundation for the Future," CBM Ebooks, Central Bank of Malta, edition 1, number 01.
    32. Eddie Gerba, 2018. "What is the Fiscal Stress in Euro Area? Evidence from a Joint Monetary-Fiscal Structural Model," Revista ESPE - Ensayos sobre Política Económica, Banco de la Republica de Colombia, vol. 36(85), pages 21-47, April.
    33. Arigoni, Filippo & Breznikar, Miha & Lenarčič, Črt & Maletič, Matjaž, 2020. "Impact of fiscal measures in response to the COVID-19 pandemic on small-open economies: lessons from Slovenia," MPRA Paper 104474, University Library of Munich, Germany.

  11. Javier Andrés & Óscar Arce & Carlos Thomas, 2014. "Structural reforms in a debt overhang," Working Papers 1421, Banco de España.

    Cited by:

    1. Matteo Cacciatore & Fabio Ghironi & Stephen J. Turnovsky, 2015. "Inflation Targeting and Economic Reforms in New Zealand," International Journal of Central Banking, International Journal of Central Banking, vol. 11(4), pages 145-198, September.
    2. Paolo Gelain & Kevin J. Lansing & Gisele J. Natvik, 2017. "Leaning Against the Credit Cycle," Working Paper Series 2017-18, Federal Reserve Bank of San Francisco.
    3. Gadatsch, Niklas & Stähler, Nikolai & Weigert, Benjamin, 2016. "German labor market and fiscal reforms 1999–2008: Can they be blamed for intra-euro area imbalances?," Journal of Macroeconomics, Elsevier, vol. 50(C), pages 307-324.
    4. Lise Patureau & Céline Poilly, 2019. "Reforms and the real exchange rate: The role of pricing-to-market [Reforms and the Real Exchange Rate: The Role of Pricing-to-Market]," Post-Print hal-02194106, HAL.
    5. Cacciatore, Matteo & Fiori, Giuseppe & Ghironi, Fabio, 2016. "Market deregulation and optimal monetary policy in a monetary union," Journal of International Economics, Elsevier, vol. 99(C), pages 120-137.
    6. Maria Manuel Campos & Cristina Checherita-Westphal, 2019. "Economic consequences of high public debt and challenges ahead for the euro area," Working Papers o201904, Banco de Portugal, Economics and Research Department.
    7. Matteo Cacciatore & Romain Duval & Giuseppe Fiori & Fabio Ghironi, 2021. "Market Reforms at the Zero Lower Bound," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 53(4), pages 745-777, June.
    8. Mirko Abbritti & Mr. Sebastian Weber, 2019. "Market Regulation, Cycles and Growth in a Monetary Union," IMF Working Papers 2019/123, International Monetary Fund.
    9. Rieth, Malte & Wittich, Jana, 2020. "The impact of ECB policy on structural reforms," European Economic Review, Elsevier, vol. 122(C).
    10. Javier Andrés & Óscar Arce & Jesús Fernández-Villaverde & Samuel Hurtado, 2020. "Deciphering the Macroeconomic Effects of Internal Devaluations in a Monetary Union," NBER Working Papers 27347, National Bureau of Economic Research, Inc.
    11. Ghironi, Fabio & Duval, Romain & Fiori, Giuseppe & Cacciatore, Matteo, 2015. "Short-Term Pain for Long-Term Gain: Market Deregulation and Monetary Policy in Small Open Economies," CEPR Discussion Papers 10982, C.E.P.R. Discussion Papers.
    12. Vogel, Lukas, 2017. "Structural reforms at the zero bound," European Journal of Political Economy, Elsevier, vol. 48(C), pages 74-90.
    13. Kristina Bluwstein & Michal Brzoza-Brzezina & Paolo Gelain & Marcin Kolasa, 2019. "Multiperiod Loans, Occasionally Binding Constraints, and Monetary Policy: A Quantitative Evaluation," Working Papers 19-10, Federal Reserve Bank of Cleveland.
    14. Aida Caldera Sánchez & Alain de Serres & Naomitsu Yashiro, 2016. "Reforming in a difficult macroeconomic context: A review of the issues and recent literature," OECD Economics Department Working Papers 1297, OECD Publishing.
    15. Matteo Cacciatore & Romain Duval & Giuseppe Fiori & Fabio Ghironi, 2016. "Market Reforms in the Time of Imbalance," NBER Working Papers 22128, National Bureau of Economic Research, Inc.
    16. Rieth, Malte & Wittich, Jana, 2020. "The impact of ECB policy on structural reforms," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 122.
    17. Javier Andrés & Óscar Arce & Carlos Thomas, 2016. "When fiscal consolidation meets private deleveraging," Working Papers 1622, Banco de España.
    18. Campos, Nauro F. & Eichenauer, Vera Z. & Sturm, Jan-Egbert, 2020. "Close encounters of the European kind: Economic integration, sectoral heterogeneity and structural reforms," European Economic Review, Elsevier, vol. 129(C).
    19. Stefano Neri & Alessandro Notarpietro, 2014. "Inflation, debt and the zero lower bound," Questioni di Economia e Finanza (Occasional Papers) 242, Bank of Italy, Economic Research and International Relations Area.
    20. Gulan, Adam & Jokivuolle, Esa & Verona, Fabio, 2022. "Optimal bank capital requirements: What do the macroeconomic models say?," BoF Economics Review 2/2022, Bank of Finland.
    21. Borio, Claudio & Gambacorta, Leonardo, 2017. "Monetary policy and bank lending in a low interest rate environment: Diminishing effectiveness?," Journal of Macroeconomics, Elsevier, vol. 54(PB), pages 217-231.
    22. Fang‐Shuo Chang & Shiu‐Sheng Chen & Po‐Yuan Wang, 2020. "Politics and the UK's monetary policy," Scottish Journal of Political Economy, Scottish Economic Society, vol. 67(5), pages 486-522, November.
    23. Óscar Arce & Iván Kataryniuk & Paloma Marín & Javier J. Pérez, 2020. "Reflexiones sobre el diseño de un Fondo de Recuperación europeo," Occasional Papers 2014, Banco de España.
    24. 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.
    25. Gomes, Sandra, 2018. "Euro area structural reforms in times of a global crisis," Journal of Macroeconomics, Elsevier, vol. 55(C), pages 28-45.
    26. Vera Eichenauer & Ronald Indergand & Isabel Z. Martínez & Christoph Sax, 2020. "Constructing Daily Economic Sentiment Indices Based on Google Trends," KOF Working papers 20-484, KOF Swiss Economic Institute, ETH Zurich.
    27. Javier Andres & Oscar Arce & Dominik Thaler & Carlos Thomas, 2020. "Online Appendix to "When Fiscal Consolidation Meets Private Deleveraging"," Online Appendices 18-471, Review of Economic Dynamics.
    28. Martínez-Martin, Jaime & Morris, Richard & Onorante, Luca & Piersanti, Fabio M., 2019. "Merging structural and reduced-form models for forecasting: opening the DSGE-VAR box," Working Paper Series 2335, European Central Bank.
    29. Ana Gouveia & Sílvia Santos & Inês Gonçalves, 2017. "The short-term impact of structural reforms on productivity growth: beyond direct effects," GEE Papers 0065, Gabinete de Estratégia e Estudos, Ministério da Economia, revised Feb 2017.
    30. Rafael Doménech & Juan Ramón García & Camilo Ulloa, 2016. "The effects of wage flexibility on activity and employment in the Spanish economy," Working Papers 16/17, BBVA Bank, Economic Research Department.
    31. Doménech, Rafael & García, Juan Ramón & Ulloa, Camilo, 2018. "The effects of wage flexibility on activity and employment in Spain," Journal of Policy Modeling, Elsevier, vol. 40(6), pages 1200-1220.
    32. Pablo Burriel & Cristina Checherita-Westphal & Pascal Jacquinot & Matthias Schön & Nikolai Stähler, 2020. "Economic consequences of high public debt: evidence from three large scale DSGE models," Working Papers 2029, Banco de España.
    33. Masuch, Klaus & Anderton, Robert & Setzer, Ralph & Benalal, Nicholai, 2018. "Structural policies in the euro area," Occasional Paper Series 210, European Central Bank.
    34. Ana Gouveia & Sílvia Santos & Gustavo Monteiro, 2017. "Short-run effects of product markets’ deregulation: a more productive, more efficient and more resilient economy?," GEE Papers 0069, Gabinete de Estratégia e Estudos, Ministério da Economia, revised Mar 2017.
    35. Óscar Arce & Samuel Hurtado & Carlos Thomas, 2015. "Policy spillovers and synergies in a monetary union," Working Papers 1540, Banco de España.
    36. Jose Emilio Bosca & Rafael Domenech & Javier Ferri & Rodolfo Mendez-Marcano & Juan F. Rubio-Ramirez, 2018. "Perturbaciones financieras y fiscales en la crisis y recuperación de la economía española [Financial and Fiscal Shocks in the Great Recession and Recovery of the Spanish Economy]," Working Papers 18/08, BBVA Bank, Economic Research Department.
    37. Ara Stepanyan & Jorge Salas, 2020. "Distributional Implications of Labor Market Reforms: Learning from Spain's Experience," IMF Working Papers 2020/029, International Monetary Fund.
    38. Bofinger, Peter & Schnabel, Isabel & Feld, Lars P. & Schmidt, Christoph M. & Wieland, Volker, 2017. "Für eine zukunftsorientierte Wirtschaftspolitik. Jahresgutachten 2017/18 [Towards a Forward-Looking Economic Policy. Annual Report 2017/18]," Annual Economic Reports / Jahresgutachten, German Council of Economic Experts / Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung, volume 127, number 201718.
    39. Stefano Neri & Alessandro Notarpietro, 2015. "The macroeconomic effects of low and falling inflation at the zero lower bound," Temi di discussione (Economic working papers) 1040, Bank of Italy, Economic Research and International Relations Area.
    40. Jorge Salas, 2018. "Drivers of Spain’s Export Performance and the Role of the Labor Market Reforms," IMF Working Papers 2018/283, International Monetary Fund.
    41. Shin, Wonmun, 2022. "A New angle on excess consumption volatility in emerging countries: Does house price matter?," Journal of International Money and Finance, Elsevier, vol. 124(C).
    42. Hiebert, Paul & Jaccard, Ivan & Schüler, Yves, 2018. "Contrasting financial and business cycles: Stylized facts and candidate explanations," Journal of Financial Stability, Elsevier, vol. 38(C), pages 72-80.

  12. Galo Nuño & Carlos Thomas, 2012. "Bank leverage cycles," Working Papers 1222, Banco de España.

    Cited by:

    1. Nina Boyarchenko & Tobias Adrian, 2015. "Intermediary Balance Sheets," 2015 Meeting Papers 239, Society for Economic Dynamics.
    2. Nina Boyarchenko & Tobias Adrian, 2014. "Liquidity Policies and Systemic Risk," 2014 Meeting Papers 720, Society for Economic Dynamics.
    3. Spahn, Peter, 2013. "Macroeconomic stabilisation and bank lending: A simple workhorse model," FZID Discussion Papers 76-2013, University of Hohenheim, Center for Research on Innovation and Services (FZID).
    4. Joseph G. Haubrich, 2020. "How Cyclical Is Bank Capital?," Journal of Financial Services Research, Springer;Western Finance Association, vol. 58(1), pages 27-38, August.
    5. Janda, Karel & Kravtsov, Oleg, 2016. "Interdependencies between Leverage and Capital Ratios in the Central and Eastern European Banks," MPRA Paper 74560, University Library of Munich, Germany.
    6. Li, Cheng, 2017. "China’s Household Balance Sheet: Accounting Issues, Wealth Accumulation, and Risk Diagnosis," MPRA Paper 79838, University Library of Munich, Germany.
    7. Daisuke Ikeda & Hidehiko Matsumoto, 2021. "Procyclical Leverage and Crisis Probability in a Macroeconomic Model of Bank Runs," IMES Discussion Paper Series 21-E-01, Institute for Monetary and Economic Studies, Bank of Japan.
    8. Jesús Fernández‐Villaverde & Samuel Hurtado & Galo Nuño, 2023. "Financial Frictions and the Wealth Distribution," Econometrica, Econometric Society, vol. 91(3), pages 869-901, May.
    9. Óscar Arce & Galo Nuño & Dominik Thaler & Carlos Thomas, 2018. "A large central bank balance sheet? floor vs corridor systems in a new keynesian environment," Working Papers 1851, Banco de España.
    10. Matthew Jaremski & David C. Wheelock, 2020. "Banking on the Boom, Tripped by the Bust: Banks and the World War I Agricultural Price Shock," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 52(7), pages 1719-1754, October.
    11. Dubois, Corinne, 2021. "Deposit insurance and financial integration in the Eurozone: A DSGE model," Economics Letters, Elsevier, vol. 207(C).
    12. Caiani, Alessandro & Russo, Alberto & Gallegati, Mauro, 2016. "Does Inequality Hamper Innovation and Growth?," MPRA Paper 71864, University Library of Munich, Germany.
    13. Barattieri, Alessandro & Moretti, Laura & Quadrini, Vincenzo, 2021. "Banks funding, leverage, and investment," Journal of Financial Economics, Elsevier, vol. 141(1), pages 148-171.
    14. Coimbra, Nuno, 2020. "Sovereigns at risk: A dynamic model of sovereign debt and banking leverage," Journal of International Economics, Elsevier, vol. 124(C).
    15. Jondeau, Eric & Sahuc, Jean-Guillaume, 2022. "Bank capital shortfall in the euro area," Journal of Financial Stability, Elsevier, vol. 62(C).
    16. Laséen, Stefan & Pescatori, Andrea & Turunen, Jarkko, 2017. "Systemic Risk: A New Trade-Off for Monetary Policy?," Working Paper Series 341, Sveriges Riksbank (Central Bank of Sweden).
    17. Alessio Moro & Galo Nuño & Pedro Tedde, 2015. "A twin crisis with multiple banks of issue. Spain in the 1860s," European Review of Economic History, European Historical Economics Society, vol. 19(2), pages 171-194.
    18. Rey, Hélène & ,, 2017. "Financial Cycles with Heterogeneous Intermediaries," CEPR Discussion Papers 11907, C.E.P.R. Discussion Papers.
    19. Park, Hyun Woong, 2019. "Securitized banking, procyclical bank leverage, and financial instability," Structural Change and Economic Dynamics, Elsevier, vol. 49(C), pages 283-300.
    20. Karel Janda & Oleg Kravtsov, 2018. "Basel III Leverage and Capital Ratio over the Economic Cycle in the Czech Republic and its Comparison with the CEE Region," European Financial and Accounting Journal, Prague University of Economics and Business, vol. 2018(4), pages 5-23.
    21. Paul, Pascal, 2020. "A macroeconomic model with occasional financial crises," Journal of Economic Dynamics and Control, Elsevier, vol. 112(C).
    22. Michael Kumhof & Xuan Wang, 2020. "Banks, Money, and the Zero Lower Bound on Deposit Rates," Tinbergen Institute Discussion Papers 20-050/VI, Tinbergen Institute.
    23. Alessandro Caiani & Alberto Russo & Mauro Gallegati, 2019. "Does inequality hamper innovation and growth? An AB-SFC analysis," Journal of Evolutionary Economics, Springer, vol. 29(1), pages 177-228, March.
    24. Christoffer Koch & Gary Richardson & Patrick Van Horn, 2020. "Countercyclical Capital Buffers: A Cautionary Tale," NBER Working Papers 26710, National Bureau of Economic Research, Inc.
    25. Sekkel, Rodrigo M., 2015. "Balance sheets of financial intermediaries: Do they forecast economic activity?," International Journal of Forecasting, Elsevier, vol. 31(2), pages 263-275.
    26. Kiley, Michael T. & Sim, Jae W., 2014. "Bank capital and the macroeconomy: Policy considerations," Journal of Economic Dynamics and Control, Elsevier, vol. 43(C), pages 175-198.
    27. Eric Jondeau & Jean-Guillaume Sahuc, 2018. "A General Equilibrium Appraisal of Capital Shortfall," Swiss Finance Institute Research Paper Series 18-12, Swiss Finance Institute, revised Feb 2018.
    28. Stijn Claessens & M Ayhan Kose, 2018. "Frontiers of macrofinancial linkages," BIS Papers, Bank for International Settlements, number 95.
    29. Caiani, Alessandro & Godin, Antoine & Caverzasi, Eugenio & Gallegati, Mauro & Kinsella, Stephen & Stiglitz, Joseph E., 2016. "Agent based-stock flow consistent macroeconomics: Towards a benchmark model," Journal of Economic Dynamics and Control, Elsevier, vol. 69(C), pages 375-408.
    30. Fu, Buben & Luo, Daqing, 2021. "Monetary policy uncertainty and bank leverage: Evidence from China," Economics Letters, Elsevier, vol. 203(C).
    31. Fukai, Hiroki, 2021. "Optimal interventions on strategic fails in repo markets," MPRA Paper 106090, University Library of Munich, Germany.
    32. Paul Luk & Tianxiao Zheng, 2022. "Dynamics of Secured and Unsecured Debt Over the Business Cycle," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 44, pages 284-314, April.
    33. Janda, Karel & Kravtsov, Oleg, 2016. "Interdependencies between Leverage and Capital Ratios in the Banking Sector of the Czech Republic," MPRA Paper 74457, University Library of Munich, Germany.
    34. Clancy, Daragh & Merola, Rossana, 2014. "The effect of macroprudential policy on endogenous credit cycles," Research Technical Papers 15/RT/14, Central Bank of Ireland.
    35. Lukas Scheffknecht, 2013. "Contextualizing Systemic Risk," ROME Working Papers 201317, ROME Network.
    36. Andrea Camilli & Marta Giagheddu, 2020. "Public debt and crowding-out: the role of housing wealth," Working Papers 441, University of Milano-Bicocca, Department of Economics, revised Oct 2020.
    37. cho, hyejin, 2014. "bank capital regulation model," MPRA Paper 54365, University Library of Munich, Germany.
    38. Xu Tian, 2022. "Uncertainty and the Shadow Banking Crisis: Estimates from a Dynamic Model," Management Science, INFORMS, vol. 68(2), pages 1469-1496, February.

  13. Pablo Hernández de Cos & Carlos Thomas, 2012. "The impact of fiscal consolidation on economic growth. An illustration for the Spanish economy based on a general equilibrium model," Occasional Papers 1205, Banco de España.

    Cited by:

    1. Hernández de Cos, Pablo & Warmedinger, Thomas & Checherita-Westphal, Cristina, 2015. "Fiscal multipliers and beyond," Occasional Paper Series 162, European Central Bank.

  14. Eva Ortega & Margarita Rubio & Carlos Thomas, 2011. "House purchase versus rental in Spain," Working Papers 1108, Banco de España.

    Cited by:

    1. Michael Funke & Michael Paetz, 2011. "Housing Prices and the Business Cycle: An Empirical Application to Hong Kong," Quantitative Macroeconomics Working Papers 21112b, Hamburg University, Department of Economics.
    2. Margarita Rubio, 2014. "Rented vs. owner-occupied housing and monetary policy," NBP Working Papers 190, Narodowy Bank Polski.
    3. Yener Coskun, 2011. "Does Re-Design of the Policies on Housing Finance and Supply Help to Solve Housing Question of Turkey?," ERES eres2011_22, European Real Estate Society (ERES).
    4. Javier Andrés & José E. Boscá & Javier Ferri, 2016. "Instruments, rules, and household debt: the effects of fiscal policy," Oxford Economic Papers, Oxford University Press, vol. 68(2), pages 419-443.
    5. Muñoz, Manuel A., 2020. "Macroprudential policy and the role of institutional investors in housing markets," Working Paper Series 2454, European Central Bank.
    6. Margarta Rubio, 2014. "Rented vs. Owner-Occupied Housing and Monetary Policy," Discussion Papers 2014/09, University of Nottingham, Centre for Finance, Credit and Macroeconomics (CFCM).
    7. Margarita Rubio & José A. Carrasco-Gallego, 2017. "Spain And The Crisis: Housing Prices, Credit And Macroprudential Policies," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 62(01), pages 109-133, March.
    8. Sami Alpanda & Sarah Zubairy, 2013. "Housing and Tax Policy," Staff Working Papers 13-33, Bank of Canada.
    9. Michal Rubaszek & Margarita Rubio, 2017. "Does rental housing market stabilize the economy? A micro and macro perspective," Discussion Papers 2017/06, University of Nottingham, Centre for Finance, Credit and Macroeconomics (CFCM).
    10. Rubio, Margarita & Carrasco-Gallego, José A., 2016. "Coordinating macroprudential policies within the Euro area: The case of Spain," Economic Modelling, Elsevier, vol. 59(C), pages 570-582.
    11. José E. Boscá & Javier Ferri, 2016. "REMS1: Adding Financial Frictions and a Housing Market to REMS," Studies on the Spanish Economy eee2016-03, FEDEA.
    12. Bajo-Buenestado, Raúl, 2016. "Evidence of asymmetric behavioral responses to changes in gasoline prices and taxes for different fuel types," Energy Policy, Elsevier, vol. 96(C), pages 119-130.
    13. Hamed Ghiaie & Jean-François Rouillard, 2018. "Housing Taxation and Financial Intermediation," Cahiers de recherche 18-01, Departement d'économique de l'École de gestion à l'Université de Sherbrooke, revised Nov 2018.
    14. Clara Martínez Toledano, 2017. "House Price Cycles, Wealth Inequality and Portfolio Reshuffling," PSE Working Papers halshs-02797549, HAL.
    15. Mora-Sanguinetti, Juan S. & Rubio, Margarita, 2014. "Recent reforms in Spanish housing markets: An evaluation using a DSGE model," Economic Modelling, Elsevier, vol. 44(S1), pages 42-49.
    16. Micheli, Martin & Schmidt, Torsten, 2015. "Welfare effects of rent control — A comparison of redistributive policies," Economic Modelling, Elsevier, vol. 48(C), pages 237-247.
    17. Clara Martínez Toledano, 2017. "House Price Cycles, Wealth Inequality and Portfolio Reshuffling," World Inequality Lab Working Papers halshs-02797549, HAL.
    18. Bielecki, Marcin & Stähler, Nikolai, 2018. "Labor tax reductions in Europe: The role of property taxation," Discussion Papers 30/2018, Deutsche Bundesbank.
    19. Mérő, Bence & Borsos, András & Hosszú, Zsuzsanna & Oláh, Zsolt & Vágó, Nikolett, 2023. "A high-resolution, data-driven agent-based model of the housing market," Journal of Economic Dynamics and Control, Elsevier, vol. 155(C).
    20. Clara Martínez Toledano, 2017. "House Price Cycles, Wealth Inequality and Portfolio Reshuffling," Working Papers halshs-02797549, HAL.
    21. Francisco Blanco & Victor Martín & Guillermo Vazquez, 2016. "Regional house price convergence in Spain during the housing boom," Urban Studies, Urban Studies Journal Limited, vol. 53(4), pages 775-798, March.

  15. Stähler, Nikolai & Thomas, Carlos, 2011. "FiMod - a DSGE model for fiscal policy simulations," Discussion Paper Series 1: Economic Studies 2011,06, Deutsche Bundesbank.

    Cited by:

    1. Albonico, Alice & Calès, Ludovic & Cardani, Roberta & Croitorov, Olga & Ferroni, Filippo & Giovannini, Massimo & Hohberger, Stefan & Pataracchia, Beatrice & Pericoli, Filippo & Raciborski, Rafal & Rat, 2017. "The Global Multi-Country Model (GM): an Estimated DSGE Model for the Euro Area Countries," Working Papers 2017-10, Joint Research Centre, European Commission.
    2. Hernández de Cos, Pablo & Warmedinger, Thomas & Checherita-Westphal, Cristina, 2015. "Fiscal multipliers and beyond," Occasional Paper Series 162, European Central Bank.
    3. Gadatsch, Niklas & Stähler, Nikolai & Weigert, Benjamin, 2016. "German labor market and fiscal reforms 1999–2008: Can they be blamed for intra-euro area imbalances?," Journal of Macroeconomics, Elsevier, vol. 50(C), pages 307-324.
    4. Schön, Matthias & Stähler, Nikolai, 2020. "When old meets young? Germany's population ageing and the current account," Economic Modelling, Elsevier, vol. 89(C), pages 315-336.
    5. Tim Schwarzmüller & Nikolai Stähler, 2013. "Reforming the labor market and improving competitiveness: an analysis for Spain using FiMod," SERIEs: Journal of the Spanish Economic Association, Springer;Spanish Economic Association, vol. 4(4), pages 437-471, November.
    6. Maria Manuel Campos & Cristina Checherita-Westphal, 2019. "Economic consequences of high public debt and challenges ahead for the euro area," Working Papers o201904, Banco de Portugal, Economics and Research Department.
    7. Gadatsch Niklas & Hollmayr Josef & Stähler Nikolai, 2019. "Thoughts on a Fiscal Union in EMU," German Economic Review, De Gruyter, vol. 20(4), pages 360-384, December.
    8. Thierry Betti & Thomas Coudert, 2022. "How harmful are cuts in public employment and wage in times of high unemployment?," Post-Print hal-03982745, HAL.
    9. Thierry Betti & Thomas Coudert, 2015. "How can the labor market accounts for the effectiveness of fiscal policy over the business cycle?," Working Papers of BETA 2015-16, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    10. Jacquinot, Pascal & Lozej, Matija & Pisani, Massimiliano, 2018. "Labour tax reforms, cross-country coordination and the monetary policy stance in the euro area: A structural model-based approach," Research Technical Papers 2/RT/18, Central Bank of Ireland.
    11. Javier Andrés & José Boscá & Francisco Ferri, 2012. "Household leverage and fiscal multipliers," Working Papers 1215, Banco de España.
    12. Michael Kloß & Oskar Krohmer & Joachim Ragnitz, 2012. "Self-financing of Government Aid Programs," ifo Dresden Studien, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, number 66.
    13. Javier Andrés & José E. Boscá & Javier Ferri, 2016. "Instruments, rules, and household debt: the effects of fiscal policy," Oxford Economic Papers, Oxford University Press, vol. 68(2), pages 419-443.
    14. Reicher, Claire, 2014. "Systematic fiscal policy and macroeconomic performance: A critical overview of the literature," Economics Discussion Papers 2014-29, Kiel Institute for the World Economy (IfW Kiel).
    15. Stähler, Nikolai, 2019. "Who benefits from using property taxes to finance a labor tax wedge reduction?," Journal of Housing Economics, Elsevier, vol. 46(C).
    16. Roy Havemann & Hylton Hollander, 2022. "Fiscal policy in times of fiscal stress: Or what to do when r > g," WIDER Working Paper Series wp-2022-52, World Institute for Development Economic Research (UNU-WIDER).
    17. Albonico, Alice & Calés, Ludovic & Cardani, Roberta & Croitorov, Olga & Ferroni, Filippo & Giovannini, Massimo & Hohberger, Stefan & Pataracchia, Beatrice & Pericoli, Filippo Maria & Raciborski, Rafal, 2019. "Comparing post-crisis dynamics across Euro Area countries with the Global Multi-country model," Economic Modelling, Elsevier, vol. 81(C), pages 242-273.
    18. Jacquinot, Pascal & Lozej, Matija & Pisani, Massimiliano, 2020. "Macroeconomic Effects of Tariffs Shocks: The Role of the Effective Lower Bound and the Labour Market," Research Technical Papers 04/RT/20, Central Bank of Ireland.
    19. Ruppert, Kilian & Stähler, Nikolai, 2020. "Household savings, capital investments and public policies: What drives the German current account?," Discussion Papers 41/2020, Deutsche Bundesbank.
    20. Anton I. Votinov & Victoria A. Gribova & Samvel S. Lazaryan, 2023. "Analysis of the Transmission Mechanism of Public Investments: The Case of the DSGE Model," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 5, pages 8-26, October.
    21. Eduardo Garzón Espinosa & Bibiana Medialdea García & Esteban Cruz Hidalgo, 2021. "Fiscal Policy Approaches: An Inquiring Look From The Modern Monetary Theory," Journal of Economic Issues, Taylor & Francis Journals, vol. 55(4), pages 999-1022, October.
    22. Rannenberg, Ansgar & Schoder, Christian & Strasky, Jan, 2015. "The macroeconomic effects of the Euro Area's fiscal consolidation 2011-2013: A Simulation-based approach," Research Technical Papers 03/RT/15, Central Bank of Ireland.
    23. Johannes Hermanus Kemp & Hylton Hollander, 2020. "A medium-sized, open-economy, fiscal DSGE model of South Africa," WIDER Working Paper Series wp-2020-92, World Institute for Development Economic Research (UNU-WIDER).
    24. Povilas Lastauskas & Julius Stakénas, 2019. "Does It Matter When Labor Market Reforms Are Implemented? The Role of the Monetary Policy Environment," CESifo Working Paper Series 7844, CESifo.
    25. Germaschewski, Yin & Wang, Shu-Ling, 2022. "Fiscal stabilization in high-debt economies without monetary independence," Journal of Macroeconomics, Elsevier, vol. 72(C).
    26. Verstegen, Loes & Meijdam, Lex, 2016. "The Effectiveness of a Fiscal Transfer Mechanism in a Monetary Union : A DSGE Model for the Euro Area," Other publications TiSEM 2963247d-7fe3-4b3a-80b5-c, Tilburg University, School of Economics and Management.
    27. 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.
    28. Alloza, Mario & Burriel, Pablo & Pérez, Javier J., 2019. "Fiscal policies in the euro area: Revisiting the size of spillovers," Journal of Macroeconomics, Elsevier, vol. 61(C), pages 1-1.
    29. Costa Junior, Celso Jose & Sampaio, Armando Vaz & Gonçalves, Flávio de Oliveria, 2012. "Income Transfer as Model of Economic Growth," MPRA Paper 45494, University Library of Munich, Germany.
    30. Sandra Gomes & Pascal Jacquinot, 2023. "A single monetary policy for heterogeneous labour markets: the case of the euro area," Working Papers w202301, Banco de Portugal, Economics and Research Department.
    31. Schwarzmüller, Tim & Wolters, Maik H., 2015. "The Macroeconomic Effects of Fiscal Consolidation in Dynamic General Equilibrium," Dynare Working Papers 43, CEPREMAP.
    32. Gadatsch, Niklas & Hauzenberger, Klemens & Stähler, Nikolai, 2016. "Fiscal policy during the crisis: A look on Germany and the Euro area with GEAR," Economic Modelling, Elsevier, vol. 52(PB), pages 997-1016.
    33. Dimitris Papageorgiou & Evangelia Vourvachaki, 2015. "The Macroeconomic Impact of Structural Reforms in Product and Labour Markets: Trade-Offs and Complementarities," Working Papers 197, Bank of Greece.
    34. Javier Andrés & Óscar Arce & Carlos Thomas, 2016. "When fiscal consolidation meets private deleveraging," Working Papers 1622, Banco de España.
    35. Hinterlang, Natascha & Martin, Anika & Röhe, Oke & Stähler, Nikolai & Strobel, Johannes, 2022. "Using energy and emissions taxation to finance labor tax reductions in a multi-sector economy," Energy Economics, Elsevier, vol. 115(C).
    36. José Alves, 2018. "A DSGE Model to Evaluate the Macroeconomic Impacts of Taxation," Working Papers REM 2018/62, ISEG - Lisbon School of Economics and Management, REM, Universidade de Lisboa.
    37. Acocella, Nicola & Beqiraj, Elton & Di Bartolomeo, Giovanni & Di Pietro, Marco & Felici, Francesco & Alleva, Giorgio & Di Dio, Fabio & Liseo, Brunero, 2020. "A stochastic estimated version of the Italian dynamic General Equilibrium Model," Economic Modelling, Elsevier, vol. 92(C), pages 339-357.
    38. Dieter Hundt & Frank-Jürgen Weise & Hagen Lesch & Wolfgang Lechthaler & Christian Merkl, 2012. "Euro crisis, Energy Policy Turnaround, Economic Slowdown: is this the End of the German “Job Market Miracle”?," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 65(01), pages 03-13, January.
    39. Hohberger, Stefan & Kraus, Lena, 2016. "Is fiscal devaluation welfare enhancing?," Economic Modelling, Elsevier, vol. 58(C), pages 512-522.
    40. Xavier Timbeau & OFCE Observatoire français des conjonctures économiques, 2014. "From austerity to stagnation how to avoid the deflation trap: The independant annual growth survey 2014," Sciences Po publications info:hdl:2441/c5gs2rgi93a, Sciences Po.
    41. Ansgar Rannenberg & Christian Schoder & Jan Strásky, 2015. "The macroeconomic effects of the Euro Area?s fiscal consolidation 2011-2013," IMK Working Paper 156-2015, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    42. Lastauskas, Povilas & Stakėnas, Julius, 2020. "Labor market reforms and the monetary policy environment," European Economic Review, Elsevier, vol. 128(C).
    43. Povilas Lastauskas & Julius Stakenas, 2015. "Global Perspective on Structural Labour Market Reforms in Europe," Cambridge Working Papers in Economics 1534, Faculty of Economics, University of Cambridge.
    44. Moura, Guilherme Valle, 2015. "Multiplicadores Fiscais e Investimento em Infraestrutura," Revista Brasileira de Economia - RBE, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil), vol. 69(1), March.
    45. Gregory de Walque & Juha Kilponen & Massimiliano Pisani & Sebastian Schmidt & Vesna Corbo & Tibor Hledik & Josef Hollmayr & Samuel Hurtado & Paulo Júlio & Dmitry Kulikov & Matthieu Lemoine & Matija Lo, 2015. "Comparing fiscal multipliers across models and countries in Europe," Working Paper Research 278, National Bank of Belgium.
    46. Hinterlang, Natascha & Jäger, Marius & Stähler, Nikolai & Strobel, Johannes, 2024. "On curbing the rise in energy prices: An examination of different mitigation approaches," Discussion Papers 09/2024, Deutsche Bundesbank.
    47. Roberta, Cardani & Lorenzo, Menna & Patrizio, Tirelli, 2016. "Optimal Public Debt Consolidation with Distributional Conflicts," Working Papers 350, University of Milano-Bicocca, Department of Economics, revised 05 Oct 2016.
    48. Enders, Almira & Groll, Dominik & Stähler, Nikolai, 2020. "Parity funding of health care contributions in Germany: A DSGE perspective," Open Access Publications from Kiel Institute for the World Economy 279868, Kiel Institute for the World Economy (IfW Kiel).
    49. Gustav A. Horn & Alexander Herzog-Stein & Ansgar Rannenberg & Katja Rietzler & Silke Tober & Rudolf Zwiener, 2014. "Wirtschaftspolitische Herausforderungen 2014," IMK Report 90-2014, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    50. Bhattarai, Keshab & Trzeciakiewicz, Dawid, 2017. "Macroeconomic impacts of fiscal policy shocks in the UK: A DSGE analysis," Economic Modelling, Elsevier, vol. 61(C), pages 321-338.
    51. Ruppert, Kilian & Stähler, Nikolai, 2022. "What drives the German current account? Household savings, capital investments and public policies," Economic Modelling, Elsevier, vol. 108(C).
    52. Hohberger, Stefan & Kraus, Lena, 2015. "Is fiscal devaluation welfare enhancing? A model-based analysis," VfS Annual Conference 2015 (Muenster): Economic Development - Theory and Policy 113193, Verein für Socialpolitik / German Economic Association.
    53. Javier Andres & Oscar Arce & Dominik Thaler & Carlos Thomas, 2020. "Online Appendix to "When Fiscal Consolidation Meets Private Deleveraging"," Online Appendices 18-471, Review of Economic Dynamics.
    54. Juha Kilponen & Massimiliano Pisani & Sebastian Schmidt & Vesna Corbo & Tibor Hledik & Josef Hollmayr & Samuel Hurtado & Paulo Júlio & Dmitry Kulikov & Matthieu Lemoine & Matija Lozej & Henrik Lundval, 2019. "Comparing Fiscal Consolidation Multipliers across Models in Europe," International Journal of Central Banking, International Journal of Central Banking, vol. 15(3), pages 285-320, September.
    55. Hinterlang, Natascha & Martin, Anika & Röhe, Oke & Stähler, Nikolai & Strobel, Johannes, 2023. "The Environmental Multi-Sector DSGE model EMuSe: A technical documentation," EconStor Preprints 280900, ZBW - Leibniz Information Centre for Economics.
    56. Skibińska, Małgorzata, 2016. "What drives the labour wedge? A comparison between CEE countries and the Euro Area," Economic Modelling, Elsevier, vol. 56(C), pages 148-161.
    57. Cavalcanti, Marco A.F.H. & Vereda, Luciano & Doctors, Rebeca de B. & Lima, Felipe C. & Maynard, Lucas, 2018. "The macroeconomic effects of monetary policy shocks under fiscal rules constrained by public debt sustainability," Economic Modelling, Elsevier, vol. 71(C), pages 184-201.
    58. William Ginn & Marc Pourroy, 2019. "Optimal Monetary Policy in the Presence of Food Price Subsidies," Post-Print hal-01830769, HAL.
    59. Richard McManus & Gulcin Ozkan & Dawid Trzeciakiewicz, 2019. "Expansionary Contractions and Fiscal Free Lunches: Too Good To Be True?," Scandinavian Journal of Economics, Wiley Blackwell, vol. 121(1), pages 32-54, January.
    60. Xavier Timbeau & Ofce Observatoire Français Des Conjonctures Économiques, 2014. "From austerity to stagnation how to avoid the deflation trap," Post-Print hal-03603164, HAL.
    61. Lawrence B. Dacuycuy & Fernando T. Aldaba, 2024. "Development of a Fiscal-Centric DSGE Model in Aid of Policy Evaluation," Department of Economics, Ateneo de Manila University, Working Paper Series 202405, Department of Economics, Ateneo de Manila University.
    62. Kaufmann, Christoph & Attinasi, Maria Grazia & Hauptmeier, Sebastian, 2023. "Macroeconomic stabilisation properties of a euro area unemployment insurance scheme," Journal of Economic Dynamics and Control, Elsevier, vol. 153(C).
    63. Hinterlang, Natascha & Moyen, Stephane & Röhe, Oke & Stähler, Nikolai, 2023. "Gauging the effects of the German COVID-19 fiscal stimulus package," European Economic Review, Elsevier, vol. 154(C).
    64. Binder, Michael & Lieberknecht, Philipp & Quintana, Jorge & Wieland, Volker, 2017. "Model uncertainty in macroeconomics: On the implications of financial frictions," IMFS Working Paper Series 114, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
    65. Severine Menguy, 2019. "Efficiency of Cuts in Various Taxation Rates to Foster Economic Growth in a Framework of Wages Rigidity," Athens Journal of Business & Economics, Athens Institute for Education and Research (ATINER), vol. 5(1), pages 1-36, January.
    66. Anke Mönnig, 2011. "Product Tax Modelling - using the dynamic interindustry model INFORGE," EcoMod2011 2912, EcoMod.
    67. Christian Schoder, 2017. "An estimated Dynamic Stochastic Disequilibrium model of Euro-Area unemployment," Working Papers 1725, New School for Social Research, Department of Economics.
    68. Varthalitis, Petros, 2019. "FIR-GEM: A SOE-DSGE Model for fiscal policy analysis in Ireland," MPRA Paper 93059, University Library of Munich, Germany.
    69. Paul Owusu Takyi & Roberto Leon-Gonzalez, 2019. "Macroeconomic Impacts of Fiscal Policy in Ghana: Analysis of an Estimated DSGE Model with Financial Exclusion," GRIPS Discussion Papers 19-15, National Graduate Institute for Policy Studies.
    70. Bielecki, Marcin & Stähler, Nikolai, 2018. "Labor tax reductions in Europe: The role of property taxation," Discussion Papers 30/2018, Deutsche Bundesbank.
    71. Mikhail Yu. Andreyev & Andrey V. Polbin, 2018. "The Impact of Fiscal Policy on Macroeconomic Indicators in DSGE-models," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 3, pages 21-33, June.
    72. Van Nguyen, Phuong, 2020. "Evaluating the forecasting accuracy of the closed- and open economy New Keynesian DSGE models," Dynare Working Papers 59, CEPREMAP.
    73. Pablo Burriel & Cristina Checherita-Westphal & Pascal Jacquinot & Matthias Schön & Nikolai Stähler, 2020. "Economic consequences of high public debt: evidence from three large scale DSGE models," Working Papers 2029, Banco de España.
    74. Hinterlang, Natascha & Martin, Anika & Röhe, Oke & Stähler, Nikolai & Strobel, Johannes, 2021. "Using energy and emissions taxation to finance labor tax reductions in a multi-sector economy: An assessment with EMuSe," Discussion Papers 50/2021, Deutsche Bundesbank.
    75. Mario Holzner & Marina Tkalec & Goran Vukšić, 2019. "Composition of trade flows and the effectiveness of fiscal devaluation," The World Economy, Wiley Blackwell, vol. 42(2), pages 453-477, February.
    76. Marchiori, Luca & Pierrard, Olivier, 2017. "How does global demand for financial services promote domestic growth in Luxembourg? A dynamic general equilibrium analysis," Economic Modelling, Elsevier, vol. 62(C), pages 103-123.
    77. Vukšić, Goran & Holzner, Mario, 2016. "Trade and fiscal imbalances in Southeastern Europe: Can fiscal devaluation help?," Economic Systems, Elsevier, vol. 40(4), pages 568-581.
    78. Clancy, Daragh & Jacquinot, Pascal & Lozej, Matija, 2016. "Government expenditure composition and fiscal policy spillovers in small open economies within a monetary union," Journal of Macroeconomics, Elsevier, vol. 48(C), pages 305-326.
    79. George Economides & Dimitris Papageorgiou & Apostolis Philippopoulos, 2017. "The driving forces of the current Greek great depression," Working Papers 201703, Athens University Of Economics and Business, Department of Economics.
    80. Papageorgiou, Dimitris & Vourvachaki, Evangelia, 2017. "Macroeconomic effects of structural reforms and fiscal consolidations: Trade-offs and complementarities," European Journal of Political Economy, Elsevier, vol. 48(C), pages 54-73.
    81. Barucci, Emilio & Brachetta, Matteo & Marazzina, Daniele, 2023. "On the feasibility of a debt redemption fund," Economic Modelling, Elsevier, vol. 119(C).
    82. Ana-Maria SÃNDICÃ, 2015. "The Role of Monetary and Fiscal Policies in Ensuring Macroeconomic Stability in Romania," Economia. Seria Management, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 18(1), pages 110-124, June.
    83. Nikolai Stähler, 2013. "Recent Developments In Quantitative Models Of Sovereign Default," Journal of Economic Surveys, Wiley Blackwell, vol. 27(4), pages 605-633, September.
    84. 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.
    85. Serbanoiu, Georgian Valentin, 2012. "Transmission of fiscal policy shocks into Romania's economy," MPRA Paper 40947, University Library of Munich, Germany.
    86. Dimitris Papageorgiou, 2014. "BoGGEM: a dynamic stochastic general equilibrium model for policy simulations," Working Papers 182, Bank of Greece.
    87. Séverine Menguy, 2016. "Optimal Budgetary Policies in New-Keynesian Models: Can they help when the Zero Lower Bound is binding?," Bulletin of Applied Economics, Risk Market Journals, vol. 3(2), pages 43-98.
    88. Eric French & Elaine Kelly & Gerhard Kempkes & Nikolai Stähler, 2016. "A One‐Off Wealth Levy? Assessing the Pros and Cons and the Importance of Credibility," Fiscal Studies, Institute for Fiscal Studies, vol. 37, pages 821-849, September.
    89. Koffi, Siméon, 2021. "Analyse de la politique budgétaire en Côte d’ivoire à partir d’une estimation Bayésienne d’un modèle d'Equilibre Général Dynamique Stochastique (DSGE) [Analysis of fiscal policy in Côte d’Ivoire us," MPRA Paper 108751, University Library of Munich, Germany.
    90. Alfredo Marvão Pereira & Rui M. Pereira & Pedro G. Rodrigues, 2014. "On the Long-Term Impact of a Fiscal Devaluation: An Application to the Portuguese Case," Working Papers 116, Department of Economics, College of William and Mary.
    91. Maria-Grazia Attinasi & Doris Prammer & Nikolai Stähler & Martino Tasso & Stefan van Parys, 2019. "Budget-Neutral Labor Tax Wedge Reductions: A Sumulation-Based Analysis for the Euro Area," International Journal of Central Banking, International Journal of Central Banking, vol. 15(4), pages 1-54, October.

  16. Juan F. Jimeno & Carlos Thomas, 2011. "Collective bargaining, firm heterogeneity and unemployment," Working Papers 1131, Banco de España.

    Cited by:

    1. G. Cardullo & M. Conti & G. Sulis, 2018. "Unions, Two-Tier Bargaining and Physical Capital Investment: Theory and Firm-Level Evidence from Italy," Working Paper CRENoS 201812, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
    2. Florian Baumann & Tobias Brändle, 2015. "We Want them all Covered! Collective Bargaining and Firm Heterogeneity. Theory and Evidence from Germany," IAW Discussion Papers 114, Institut für Angewandte Wirtschaftsforschung (IAW).
    3. Claudio Lucifora & Daria Vigani, 2020. "Losing control? Unions' Representativeness, "Pirate" Collective Agreements and Wages," DISCE - Working Papers del Dipartimento di Economia e Finanza def087, Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE).
    4. Michal Andrle & Mr. Alvar Kangur & Mr. Mehdi Raissi, 2018. "Italy: Quantifying the Benefits of a Comprehensive Reform Package," IMF Working Papers 2018/060, International Monetary Fund.
    5. Evangelia Papapetrou & Pinelopi Tsalaporta, 2018. "Macroeconomic outcomes, collective bargaining and intersectoral productivity differentials: a panel approach," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 45(4), pages 765-799, November.
    6. Effrosyni Adamopoulou & Ernesto Villanueva, 2020. "Wage Determination and the Bite of Collective Contracts in Italy and Spain: Evidence From the Metalworking Industry," CRC TR 224 Discussion Paper Series crctr224_2020_176, University of Bonn and University of Mannheim, Germany.
    7. Pedro S. Martins, 2014. "30,000 minimum wages: the economic effects of collective bargaining extensions," Nova SBE Working Paper Series wp589, Universidade Nova de Lisboa, Nova School of Business and Economics.
    8. Ronchi, Maddalena & di Mauro, Filippo, 2017. "Wage Bargaining Regimes and Firms' Adjustments to the Great Recession," IWH-CompNet Discussion Papers 1/2017, Halle Institute for Economic Research (IWH).
    9. Effrosnyi Adamopoulou & Luis Diez-Catalan & Ernesto Villanueva, 2024. "Staggered Contracts and Unemployment During Recessions," CRC TR 224 Discussion Paper Series crctr224_2022_379v2, University of Bonn and University of Mannheim, Germany.
    10. Mr. Olivier J Blanchard & Ms. Florence Jaumotte & Mr. Prakash Loungani, 2013. "Labor Market Policies and IMF Advice in Advanced Economies during the Great Recession," IMF Staff Discussion Notes 2013/002, International Monetary Fund.
    11. Ana Karina Alfaro Moreno & José Javier Núñez Velázquez, 2019. "Utilization of Mixed Distributions in the Calculation of Polarization: The Case of Spain," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 142(3), pages 911-946, April.
    12. Francesco de Palma & Yann Thommen, 2020. "Employment Protection Reform in European Labor Markets : The Collective Bargaining Regime Matters," Post-Print hal-02981359, HAL.
    13. Murtin, Fabrice & de Serres, Alain & Hijzen, Alexander, 2014. "Unemployment and the coverage extension of collective wage agreements," European Economic Review, Elsevier, vol. 71(C), pages 52-66.
    14. Mr. Alvar Kangur, 2018. "Competitiveness and Wage Bargaining Reform in Italy," IMF Working Papers 2018/061, International Monetary Fund.
    15. Bentolila, Samuel & Dolado, Juan J. & Jimeno, Juan F., 2011. "Reforming an Insider-Outsider Labor Market: The Spanish Experience," IZA Discussion Papers 6186, Institute of Labor Economics (IZA).
    16. Andrea Garnero & Claudio Lucifora, 2022. "Turning a ‘Blind Eye’? Compliance with Minimum Wage Standards and Employment," Economica, London School of Economics and Political Science, vol. 89(356), pages 884-907, October.
    17. Andrea Garnero & Claudio Lucifora, 2020. "Turning A Blind Eye? Compliance To Minimum Wages And Employment," DISCE - Working Papers del Dipartimento di Economia e Finanza def085, Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE).
    18. Albanesi, Stefania & Dias da Silva, António & Jimeno, Juan F. & Lamo, Ana & Wabitsch, Alena, 2023. "New Technologies and Jobs in Europe," IZA Discussion Papers 16227, Institute of Labor Economics (IZA).
    19. John T. Addison, 2016. "Collective Bargaining Systems and Macroeconomic and Microeconomic Flexibility: The Quest for Appropriate Institutional Forms in Advanced Economies," GEMF Working Papers 2016-01, GEMF, Faculty of Economics, University of Coimbra.
    20. Brändle, Tobias & Baumann, Florian, 2013. "Union Bargaining and Intra-Industry Productivity Differentials: Theory and Evidence from Germany," VfS Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order 79852, Verein für Socialpolitik / German Economic Association.
    21. Daphne Nicolitsas, 2021. "The impact of regulations and institutions on competitiveness and productivity: the case of Greece," European Journal of Comparative Economics, Cattaneo University (LIUC), vol. 18(1), pages 23-47, June.
    22. Andrea Garnero & Francois Rycx & Isabelle Terraz, 2019. "Productivity and wage effects of firm-level collective agreements: Evidence from Belgian linked panel data," OECD Social, Employment and Migration Working Papers 223, OECD Publishing.
    23. John T. Addison & Paulino Teixeira, 2018. "Strikes, Employee Workplace Representation, Unionism, and Industrial Relations Quality in European Establishments," CESifo Working Paper Series 7360, CESifo.
    24. Pierrick Clerc, 2021. "The Dynamics of Unemployment and Inflation in New Keynesian Models with Two Labor Margins," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 53(2-3), pages 301-332, March.
    25. Clémence Berson & Édouard Jousselin, 2018. "Wage bargaining in Europe: a wide range of increasingly decentralised models since the crisis," Quarterly selection of articles - Bulletin de la Banque de France, Banque de France, issue 217, pages 1-9, Spring.
    26. José L. Groizard & Xisco Oliver & María Sard, 2022. "An account of the exporter wage gap: Wage structure and composition effects across the wage distribution," The World Economy, Wiley Blackwell, vol. 45(5), pages 1528-1563, May.
    27. Hirsch, Boris & Merkl, Christian & Müller, Steffen & Schnabel, Claus, 2014. "Centralized vs. Decentralized Wage Formation: The Role of Firms' Production Technology," IZA Discussion Papers 8242, Institute of Labor Economics (IZA).
    28. Luis Diéz-Catalán & Ernesto Villanueva, 2015. "Contract staggering and unemployment during the great recession: evidence from Spain," Working Papers 1431, Banco de España.
    29. P. Clerc, 2015. "Credible Wage Bargaining and the Joint Dynamics of Unemployment and Inflation," Working papers 568, Banque de France.
    30. Samuel Bentolila & Juan J. Dolado & Juan F. Jimeno, 2012. "The New New Labour Market Reform in Spain: Objectives, Instruments, and Shortcomings," ifo DICE Report, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 10(02), pages 03-07, August.
    31. José Ramón García & Valeri Sorolla, 2017. "Frictional and Non-Frictional Unemployment in a Labor Market with Matching Frictions," Manchester School, University of Manchester, vol. 85(4), pages 450-465, July.
    32. Stefano Visintin & Alessandro Gentile, 2013. "Il mercato del lavoro in spagna: criticit? e riforme strutturali in un contesto di crisi economica," ECONOMIA E SOCIET? REGIONALE, FrancoAngeli Editore, vol. 0(2), pages 65-85.
    33. Adamopoulou, Effrosyni & Villanueva, Ernesto, 2022. "Wage determination and the bite of collective contracts in Italy and Spain," Labour Economics, Elsevier, vol. 76(C).
    34. Cardullo, Gabriele & Conti, Maurizio & Sulis, Giovanni, 2020. "A model of unions, two-tier bargaining and capital investment," Labour Economics, Elsevier, vol. 67(C).
    35. Marco de Pinto, 2015. "Firm-level versus Sector-level Trade Unions – The Role of Rent-Sharing Motives," IAAEU Discussion Papers 201508, Institute of Labour Law and Industrial Relations in the European Union (IAAEU).
    36. Albanesi, Stefania & Da Silva, António Dias & Jimeno, Juan F. & Lamo, Ana & Wabitsch, Alena, 2023. "New technologies and jobs in Europe," Working Paper Series 2831, European Central Bank.
    37. Morin, Annaïg, 2017. "Cyclicality of wages and union power," Labour Economics, Elsevier, vol. 48(C), pages 1-22.

  17. Nakov, Anton & Thomas, Carlos, 2010. "Optimal monetary policy with state-dependent pricing," Working Paper Series 1250, European Central Bank.

    Cited by:

    1. Nakov, Anton & Thomas, Carlos, 2014. "Optimal Monetary Policy with State-Dependent Pricing," CEPR Discussion Papers 9846, C.E.P.R. Discussion Papers.
    2. Denny Lie, 2009. "State-dependent pricing and optimal monetary policy," Working Papers 09-20, Federal Reserve Bank of Boston.
    3. Shuhei Takahashi, 2018. "Does State-Dependent Wage Setting Generate Multiple Equilibria?," KIER Working Papers 991, Kyoto University, Institute of Economic Research.
    4. Muhammad Ali Nasir & Milton Yago & Alaa M. Soliman & Junjie Wu, 2016. "Financial stability, wealth effects and optimal macroeconomic policy combination in the United Kingdom: A new-Keynesian dynamic stochastic general equilibrium framework," Cogent Economics & Finance, Taylor & Francis Journals, vol. 4(1), pages 1136098-113, December.
    5. Shuhei Takahashi, 2014. "State Dependency in Price and Wage Setting," UTokyo Price Project Working Paper Series 034, University of Tokyo, Graduate School of Economics.
    6. Kosuke Aoki, 2015. "Relative Prices and Inflation Stabilisation," UTokyo Price Project Working Paper Series 047, University of Tokyo, Graduate School of Economics.
    7. Zidong An & Salem Abo‐Zaid & Xuguang Simon Sheng, 2023. "Inattention and the impact of monetary policy," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 38(4), pages 623-643, June.
    8. Kosuke Aoki, 2015. "Relative Prices and Inflation Stabilization," The Japanese Economic Review, Japanese Economic Association, vol. 66(1), pages 35-59, March.

  18. James Costain & Juan F. Jimeno & Carlos Thomas, 2010. "Employment fluctuations in a dual labor market," Working Papers 1013, Banco de España.

    Cited by:

    1. Görg, Holger & Görlich, Dennis, 2012. "Offshoring, Wages and Job Security of Temporary Workers," IZA Discussion Papers 6897, Institute of Labor Economics (IZA).
    2. Nicola Acocella & Laura Bisio & Giovanni Di Bartolomeo & Alessandra Pelloni, "undated". "Labor market imperfections, real wage rigidities and financial shocks," Working Papers 80/11, Sapienza University of Rome, Metodi e Modelli per l'Economia, il Territorio e la Finanza MEMOTEF.
    3. J. Ignacio Conde-Ruiz & Manu García & Luis A. Puch & Jesús Ruiz, 2019. "Calendar effects in daily aggregate employment creation and destruction in Spain," SERIEs: Journal of the Spanish Economic Association, Springer;Spanish Economic Association, vol. 10(1), pages 25-63, March.
    4. Genda, Yuji & Heckel, Markus & Kambayashi, Ryo, 2019. "Employees who do not know their labour contract term and the implications for working conditions: Evidence from Japanese and Spanish microdata," Japan and the World Economy, Elsevier, vol. 49(C), pages 95-104.
    5. Bart Hobijn & Ayşegül Şahin, 2012. "Beveridge Curve Shifts across Countries since the Great Recession," Working Paper Series 2012-24, Federal Reserve Bank of San Francisco.
    6. Tim Schwarzmüller & Nikolai Stähler, 2013. "Reforming the labor market and improving competitiveness: an analysis for Spain using FiMod," SERIEs: Journal of the Spanish Economic Association, Springer;Spanish Economic Association, vol. 4(4), pages 437-471, November.
    7. Gunther Tichy, 2014. "Flexicurity – ein an seiner Umsetzung scheiterndes Konzept," WIFO Monatsberichte (monthly reports), WIFO, vol. 87(8), pages 537-553, August.
    8. Jimeno Juan F. & Mora-Sanguinetti Juan S. & Martínez-Matute Marta, 2020. "Employment protection legislation, labor courts, and effective firing costs," IZA Journal of Labor Economics, Sciendo & Forschungsinstitut zur Zukunft der Arbeit GmbH (IZA), vol. 9(1), pages 1-26, January.
    9. Victoria Osuna & José Ignacio García Pérez, 2021. "Temporary layoffs, short-time work and COVID-19: the case of a dual labour market," Applied Economic Analysis, Emerald Group Publishing Limited, vol. 30(90), pages 248-262, December.
    10. Ester Faia & Wolfgang Lechthaler & Christian Merkl, 2014. "Labor Selection, Turnover Costs, and Optimal Monetary Policy," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 46(1), pages 115-144, February.
    11. Bentolila, Samuel & Dolado, Juan J. & Jimeno, Juan F., 2019. "Dual Labour Markets Revisited," IZA Discussion Papers 12126, Institute of Labor Economics (IZA).
    12. Krzysztof Bartosik & Jerzy Mycielski, 2017. "The output employment elasticity and the increased use of temporary contracts: evidence from Poland," Working Papers 2017-23, Faculty of Economic Sciences, University of Warsaw.
    13. Machikita, Tomohiro & Sato, Hitoshi, 2016. "A model of temporary and permanent jobs and trade," IDE Discussion Papers 655, Institute of Developing Economies, Japan External Trade Organization(JETRO).
    14. Michele Catalano & Emilia Pezzolla, 2017. "The Italian Labor Market Reform: An Evaluation of the Jobs Act Using the Prometeia DSGE Model," Italian Economic Journal: A Continuation of Rivista Italiana degli Economisti and Giornale degli Economisti, Springer;Società Italiana degli Economisti (Italian Economic Association), vol. 3(2), pages 209-238, July.
    15. Michael W. L. Elsby & Bart Hobijn & Ayşegül Şahin, 2013. "Unemployment Dynamics in the OECD," The Review of Economics and Statistics, MIT Press, vol. 95(2), pages 530-548, May.
    16. Franck Malherbet & Helene Benghalem, 2017. "Taxation of Temporary Jobs: Good Intentions With Bad Outcomes ?," 2017 Meeting Papers 974, Society for Economic Dynamics.
    17. Cahuc, Pierre & Charlot, Olivier & Malherbet, Franck, 2012. "Explaining the Spread of Temporary Jobs and its Impact on Labor Turnover," IZA Discussion Papers 6365, Institute of Labor Economics (IZA).
    18. Sala, Hector & Silva, José I. & Toledo, Manuel E., 2008. "Flexibility at the Margin and Labor Market Volatility in OECD Countries," IZA Discussion Papers 3293, Institute of Labor Economics (IZA).
    19. Francesco Devicienti & Paolo Naticchioni & Andrea Ricci, 2015. "Temporary employment, demand volatility and unions: Firm-level evidence," Carlo Alberto Notebooks 434, Collegio Carlo Alberto.
    20. Bentolila, Samuel & Dolado, Juan J. & Jimeno, Juan F., 2011. "Reforming an Insider-Outsider Labor Market: The Spanish Experience," IZA Discussion Papers 6186, Institute of Labor Economics (IZA).
    21. Cook, David & Xu, Juanyi, 2015. "Eurosclerosis and international business cycles," Journal of International Economics, Elsevier, vol. 95(1), pages 54-67.
    22. Nezih Guner & Ezgi Kaya & Virginia Sánchez-Marcos, 2014. "Gender gaps in Spain: policies and outcomes over the last three decades," SERIEs: Journal of the Spanish Economic Association, Springer;Spanish Economic Association, vol. 5(1), pages 61-103, March.
    23. Bassanini, Andrea & Garnero, Andrea, 2012. "Dismissal Protection and Worker Flows in OECD Countries: Evidence from Cross-Country/Cross-Industry Data," IZA Discussion Papers 6535, Institute of Labor Economics (IZA).
    24. Pedro Gete and Paolo Porchia, 2011. "A Real Options Analysis of Dual Labor Markets and the Single Labor Contract," Working Papers gueconwpa~11-11-02, Georgetown University, Department of Economics.
    25. Amalia CRISTESCU, 2017. "The Impact Of Education On The Unemployment Rate In The Southern European Model," Romanian Journal of Regional Science, Romanian Regional Science Association, vol. 11(1), pages 62-75, June.
    26. Povilas Lastauskas & Julius Stakenas, 2015. "Global Perspective on Structural Labour Market Reforms in Europe," Cambridge Working Papers in Economics 1534, Faculty of Economics, University of Cambridge.
    27. Jose Garcia-Louzao, 2019. "Employment and Wages over the Business Cycle in Worker-Owned Firms: Evidence from Spain," Bank of Lithuania Working Paper Series 68, Bank of Lithuania.
    28. Victoria Osuna & J. García-Pérez, 2015. "On the Effectiveness of Short-time Work Schemes in Dual Labor Markets," De Economist, Springer, vol. 163(3), pages 323-351, September.
    29. Garcia Perez, J. Ignacio & Marinescu, Ioana E. & Vall-Castello, Judit, 2016. "Can Fixed-Term Contracts Put Low Skilled Youth on a Better Career Path? Evidence from Spain," IZA Discussion Papers 9777, Institute of Labor Economics (IZA).
    30. Rodolfo G. Campos & Iliana Reggio, 2014. "Consumption in the shadow of unemployment," Working Papers 1411, Banco de España.
    31. Renato Faccini, 2014. "Reassessing Labour Market Reforms: Temporary Contracts as a Screening Device," Economic Journal, Royal Economic Society, vol. 124(575), pages 167-200, March.
    32. Cristina Lafuente & Raül Santaeulàlia-Llopis & Ludo Visschers, 2021. "Temping Fates in Spain: Hours and Employment in a Dual Labor Market during the Great Recession and Covid-19," Working Papers 1282, Barcelona School of Economics.
    33. Lochner, Benjamin, 2014. "Employment protection in dual labor markets: Any amplification of macroeconomic shocks?," FAU Discussion Papers in Economics 14/2014, Friedrich-Alexander University Erlangen-Nuremberg, Institute for Economics.
    34. José Ignacio Conde Ruiz & Florentino Felgueroso & Jose Ignacio García Pérez, 2011. "Reforma Laboral 2010: Una primera evaluación y propuestas de mejora," Economic Reports 01-2011, FEDEA.
    35. Lehner, Lukas & Ramskogler, Paul & Riedl, Aleksandra, 2022. "Begging thy coworker – Labor market dualization and the slow-down of wage growth in Europe," INET Oxford Working Papers 2022-04, Institute for New Economic Thinking at the Oxford Martin School, University of Oxford.
    36. Normann Rion, 2021. "Job creation in a dual labor market: a constructivist approach," Working Papers hal-03125344, HAL.
    37. Hélène Couprie & Xavier Joutard, 2017. "Atypical Employment and Prospects of the Youth on the Labor Market in a Crisis Context," THEMA Working Papers 2017-08, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
    38. Cristina Lafuente, 2018. "Search capital and Unemployment Duration," 2018 Meeting Papers 427, Society for Economic Dynamics.
    39. Rodríguez Mora, José V & Güell, Maia, 2010. "Temporary Contracts, Incentives and Unemployment," CEPR Discussion Papers 8116, C.E.P.R. Discussion Papers.
    40. Jung, Philip & Kuhn, Moritz, 2011. "Labor Market Rigidity and Business Cycle Volatility," MPRA Paper 48946, University Library of Munich, Germany.
    41. Osune, Victoria, 2014. "Working-week flexibility: Implications for employment and productivity," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 8, pages 1-29.
    42. González, Xulia & Miles-Touya, Daniel, 2012. "Labor market rigidities and economic efficiency: Evidence from Spain," Labour Economics, Elsevier, vol. 19(6), pages 833-845.
    43. Osuna, Victoria, 2015. "Reducing severance costs or subsidizing permanent job creation: Which policy is more effective to reduce duality?," Economics Discussion Papers 2015-21, Kiel Institute for the World Economy (IfW Kiel).
    44. Ignacio García Pérez, J. & Osuna, Victoria, 2014. "Dual labour markets and the tenure distribution: Reducing severance pay or introducing a single contract," Labour Economics, Elsevier, vol. 29(C), pages 1-13.
    45. Fabio Monteforte, 2015. "Structural Transformation, the Push-Pull Hypothesis and the Labour Market," Bristol Economics Discussion Papers 15/654, School of Economics, University of Bristol, UK, revised 01 Dec 2017.
    46. Samuel Bentolila & Juan J. Dolado & Pierre Cahuc & Thomas Le Barbanchon, 2010. "Two-Tier Labor Markets in the Great Recession: France Vs. Spain," Working Papers wp2010_1009, CEMFI.
    47. Ekkehard Ernst & Uma Rani, 2011. "Understanding unemployment flows," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 27(2), pages 268-294.
    48. Victoria Osuna & Jose-Ignacio García-Pérez, 2012. "The effects of introducing a single open-ended contract in Spain," EcoMod2012 3825, EcoMod.
    49. Olivier Charlot & Franck Malherbet, 2013. "Education and employment protection," Post-Print hal-02979492, HAL.
    50. García Serrano, Carlos. & Malo, Miguel Ángel., 2013. "Beyond the contract type segmentation in Spain : country case studies on labour market segmentation," ILO Working Papers 994814983402676, International Labour Organization.
    51. Jose Ignacio García Pérez & Victoria Osuna, 2011. "The effects of introducing a single open-ended contract in the Spanish labour market," Working Papers 11.07, Universidad Pablo de Olavide, Department of Economics.
    52. Monteforte, Fabio, 2020. "Structural change, the push-pull hypothesis and the Spanish labour market," Economic Modelling, Elsevier, vol. 86(C), pages 148-169.
    53. Philip, Jung & Moritz, Kuhn, 2011. "The Era of the U.S.-Europe Labor Market Divide: What can we learn?," MPRA Paper 32322, University Library of Munich, Germany.
    54. Paula Garda & Volker Ziemann, 2014. "Economic Policies and Microeconomic Stability: A Literature Review and Some Empirics," OECD Economics Department Working Papers 1115, OECD Publishing.
    55. Conde Ruiz, José Ignacio. & Felgueroso, Florentino. & García Pérez, Jose Ignacio., 2011. "El fondo de capitalización a la austriaca: costes y beneficios de su implantación en España," Economic Reports 06-2011, FEDEA.
    56. Marta Martínez-Matute & Alberto Urtasun, 2018. "Uncertainty, firm heterogeneity and labour adjustments. Evidence from European countries," Working Papers 1821, Banco de España.
    57. Normann Rion, 2020. "Fluctuations in a Dual Labor Market," PSE Working Papers halshs-02570540, HAL.
    58. Juan F. Jimeno & Marta Martínez-Matute & Juan S. Mora-Sanguinetti, 2015. "Employment protection legislation and labor court activity in Spain," Working Papers 1507, Banco de España.
    59. MATSUURA Toshiyuki & SATO Hitoshi & WAKASUGI Ryuhei, 2011. "Temporary Workers, Permanent Workers, and International Trade: Evidence from Japanese firm-level data," Discussion papers 11030, Research Institute of Economy, Trade and Industry (RIETI).
    60. Cristina Lafuente and Astrid Ruland, 2022. "Short-Time Work schemes and labour market flows in Europe during COVID," Economics Working Papers EUI ECO 2022/02, European University Institute.
    61. Anita Wölfl & Juan S. Mora-Sanguinetti, 2011. "Reforming the Labour Market in Spain," OECD Economics Department Working Papers 845, OECD Publishing.
    62. HOSONO Kaoru & TAKIZAWA Miho & TSURU Kotaro, 2014. "The Impact of a Demand Shock on the Employment of Temporary Agency Workers: Evidence from Japan during the global financial crisis," Discussion papers 14046, Research Institute of Economy, Trade and Industry (RIETI).
    63. Cristina Lafuente, 2017. "Search capital and Unemployment Duration (Preliminary)," Edinburgh School of Economics Discussion Paper Series 283, Edinburgh School of Economics, University of Edinburgh.
    64. Povilas Lastauskas & Julius Stakenas, 2016. "Labour Market Institutions in Open Economy," Bank of Lithuania Working Paper Series 33, Bank of Lithuania.

  19. Javier Andrés & Óscar Arce & Carlos Thomas, 2010. "Banking competition, collateral constraints and optimal monetary policy," Working Papers 1001, Banco de España.

    Cited by:

    1. Donal Smith, 2015. "Collateral Constraints and the Interest Rate," Discussion Papers 15/22, Department of Economics, University of York.
    2. Pierpaolo Benigno & Gauti B. Eggertsson & Federica Romei, 2020. "Dynamic Debt Deleveraging and Optimal Monetary Policy," American Economic Journal: Macroeconomics, American Economic Association, vol. 12(2), pages 310-350, April.
    3. Mădălin Viziniuc, 2017. "Potential Gains from Cooperation Between Monetary and Macroprudential Policies: The Case of an Emerging Economy," Eastern European Economics, Taylor & Francis Journals, vol. 55(5), pages 420-452, September.
    4. Lien Laureys & Roland Meeks & Boromeus Wanengkirtyo, 2020. "Optimal simple objectives for monetary policy when banks matter," CAMA Working Papers 2020-98, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    5. Francisco de Castro & Javier J. Pérez & Marta Rodríguez Vives, 2011. "Fiscal data revisions in Europe," Working Papers 1106, Banco de España.
    6. Grégory Levieuge, 2018. "La politique monétaire doit-elle être utilisée à des fins de stabilité financière ?," Post-Print hal-03530128, HAL.
    7. Guidi, Francesco, 2021. "Concentration, competition and financial stability in the South-East Europe banking context," International Review of Economics & Finance, Elsevier, vol. 76(C), pages 639-670.
    8. Isabel Argimón & Jenifer Ruiz, 2010. "The effects of national discretions on banks," Working Papers 1029, Banco de España.
    9. Zaretski, Aliaksandr, 2021. "Financial constraints, risk sharing, and optimal monetary policy," MPRA Paper 110757, University Library of Munich, Germany.
    10. Florin O Bilbiie & Xavier Ragot, 2020. "Optimal monetary policy and liquidity with heterogeneous households," SciencePo Working papers Main hal-03100875, HAL.
    11. Massimiliano Rigon & Francesco Zanetti, 2017. "Optimal Monetary Policy and Fiscal Policy Interaction in a non-Ricardian Economy," BCAM Working Papers 1708, Birkbeck Centre for Applied Macroeconomics.
    12. Phuc Huynh & Trang Nguyen & Thanh Duong & Duc Pham, 2017. "Leaning against the Wind Policies on Vietnam’s Economy with DSGE Model," Economies, MDPI, vol. 5(1), pages 1-18, January.
    13. Muñoz, Manuel A., 2020. "Macroprudential policy and the role of institutional investors in housing markets," Working Paper Series 2454, European Central Bank.
    14. Pierre-Richard Agénor & Koray Alper & Luiz Pereira da Silva, 2015. "External Shocks, Financial Volatility and Reserve Requirements in an Open Economy," Working Papers Series 396, Central Bank of Brazil, Research Department.
    15. Manuel Muñoz, 2018. "Rethinking Capital Regulation: The Case for a Dividend Prudential Target," CNMV Working Papers CNMV Working Papers no. 6, CNMV- Spanish Securities Markets Commission - Research and Statistics Department.
    16. Margarita Rubio & José A. Carrasco-Gallego, 2017. "Spain And The Crisis: Housing Prices, Credit And Macroprudential Policies," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 62(01), pages 109-133, March.
    17. Agénor, Pierre-Richard & Alper, Koray & Pereira da Silva, Luiz A., 2014. "Sudden floods, macroprudential regulation and stability in an open economy," Journal of International Money and Finance, Elsevier, vol. 48(PA), pages 68-100.
    18. Margarita Rubio, 2011. "Fixed- and Variable-Rate Mortgages, Business Cycles, and Monetary Policy," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 43(4), pages 657-688, June.
    19. Rubio, Margarita & Carrasco-Gallego, José A., 2016. "Coordinating macroprudential policies within the Euro area: The case of Spain," Economic Modelling, Elsevier, vol. 59(C), pages 570-582.
    20. Leonardo Gambacorta & Federico M Signoretti, 2013. "Should monetary policy lean against the wind? - an analysis based on a DSGE model with banking," BIS Working Papers 418, Bank for International Settlements.
    21. Stanikunas Rimantas & Sergijenkovas Ivanas, 2018. "An Analysis and Comparison of the Commercial Bank Competition Regimes in Lithuania and Denmark," Ekonomika (Economics), Sciendo, vol. 97(2), pages 38-54, December.
    22. Vincenzo Cuciniello & Federico M. Signoretti, 2015. "Large Banks, Loan Rate Markup, and Monetary Policy," International Journal of Central Banking, International Journal of Central Banking, vol. 11(3), pages 141-177, June.
    23. Alessandro Notarpietro & Stefano Siviero, 2014. "Optimal monetary policy rules and house prices: the role of financial frictions," Temi di discussione (Economic working papers) 993, Bank of Italy, Economic Research and International Relations Area.
    24. Verona, Fabio & Martins, Manuel M.F. & Drumond, Inês, 2017. "Financial shocks, financial stability, and optimal Taylor rules," Journal of Macroeconomics, Elsevier, vol. 54(PB), pages 187-207.
    25. Tommaso Trani, 2013. "Country Portfolios with Heterogeneous Pledgeability," Faculty Working Papers 02/13, School of Economics and Business Administration, University of Navarra.
    26. Abo-Zaid, Salem, 2015. "Optimal long-run inflation with occasionally binding financial constraints," European Economic Review, Elsevier, vol. 75(C), pages 18-42.
    27. Rubio, Margarita & Carrasco-Gallego, José A., 2014. "Macroprudential and monetary policies: Implications for financial stability and welfare," Journal of Banking & Finance, Elsevier, vol. 49(C), pages 326-336.
    28. Pierre-Richard Agénor & Alessandro Flamini, 2016. "Institutional Mandates for Macroeconomic and Financial Stability," Centre for Growth and Business Cycle Research Discussion Paper Series 231, Economics, The University of Manchester.
    29. Steffen Elstner & Nikolay Hristov & Oliver Hülsewig & Timo Wollmershäuser, 2010. "Optimal Monetary Policy in a Monetary Union with Housing and Credit Market Heterogeneity," Working Paper / FINESS 7.4B, DIW Berlin, German Institute for Economic Research.
    30. Carmen Martínez-Carrascal & Julian von Landesberger, 2010. "Explaining the demand for money by non-financial corporations in the euro area: A macro and a micro view," Working Papers 1033, Banco de España.
    31. Olympia Bover, 2010. "Housing purchases and the dynamics of housing wealth," Working Papers 1036, Banco de España.
    32. Anthony M. Diercks, 2015. "The Equity Premium, Long-Run Risk, & Optimal Monetary Policy," Finance and Economics Discussion Series 2015-87, Board of Governors of the Federal Reserve System (U.S.).
    33. Abo-Zaid, Salem, 2015. "Optimal monetary policy with the cost channel and monopolistically-competitive banks," Journal of Macroeconomics, Elsevier, vol. 45(C), pages 284-299.
    34. Agustín Maravall Herrero & Domingo Pérez Cañete, 2011. "Applying and interpreting model-based seasonal adjustment. The euro-area industrial production series," Working Papers 1116, Banco de España.
    35. Margarita Rubio & Mariarosaria Comunale, 2016. "Lithuania in the Euro Area: Monetary Transmission and Macroprudential Policies," Bank of Lithuania Working Paper Series 34, Bank of Lithuania.
    36. Francesca Viani, 2011. "International financial flows, real exchange rates and cross-border insurance," Working Papers 1038, Banco de España.
    37. Donal Smith, 2020. "Collateral Constraints and the Interest Rate," Scottish Journal of Political Economy, Scottish Economic Society, vol. 67(2), pages 137-165, May.
    38. Xiao, Bowen & Fan, Ying & Guo, Xiaodan, 2021. "Dynamic interactive effect and co-design of SO2 emission tax and CO2 emission trading scheme," Energy Policy, Elsevier, vol. 152(C).
    39. Ferrero, Andrea & Harrison, Richard & Nelson, Benjamin, 2018. "House Price Dynamics, Optimal LTV Limits and the Liquidity Trap," CEPR Discussion Papers 13400, C.E.P.R. Discussion Papers.
    40. Anthony Diercks, 2016. "The Equity Premium, Long-Run Risk, and Optimal Monetary Policy," 2016 Meeting Papers 207, Society for Economic Dynamics.
    41. Stähler, Nikolai & Thomas, Carlos, 2012. "FiMod — A DSGE model for fiscal policy simulations," Economic Modelling, Elsevier, vol. 29(2), pages 239-261.
    42. Agénor, Pierre-Richard & Jackson, Timothy P., 2022. "Monetary and macroprudential policy coordination with biased preferences," Journal of Economic Dynamics and Control, Elsevier, vol. 144(C).
    43. Zervou, Anastasia S., 2013. "Financial market segmentation, stock market volatility and the role of monetary policy," European Economic Review, Elsevier, vol. 63(C), pages 256-272.
    44. Fang Yao & Margarita Rubio, 2017. "Macroprudential policies in a low interest-rate environment," Reserve Bank of New Zealand Discussion Paper Series DP2017/04, Reserve Bank of New Zealand.
    45. Marcella Lucchetta, 2023. "Understanding Monetary Policy:The Real Sector and Welfare," Working Papers 2023:01, Department of Economics, University of Venice "Ca' Foscari".
    46. Enrique Moral-Benito, 2011. "Dynamic panels with predetermined regressors: likelihood-based estimation and Bayesian averaging with an application to cross-country growth," Working Papers 1109, Banco de España.
    47. de Bondt, Gabe & Peltonen, Tuomas A. & Santabárbara, Daniel, 2010. "Booms and busts in China's stock market: Estimates based on fundamentals," Working Paper Series 1190, European Central Bank.
    48. Moral-Benito, Enrique, 2010. "Model averaging in economics," MPRA Paper 26047, University Library of Munich, Germany.
    49. Ravn, Søren Hove, 2016. "Endogenous credit standards and aggregate fluctuations," Journal of Economic Dynamics and Control, Elsevier, vol. 69(C), pages 89-111.
    50. Fabia A. de Carvalho & Marcos R. Castro & Silvio M. A. Costa, 2014. "Traditional and matter-of-fact financial frictions in a DSGE model for Brazil: the role of macroprudential instruments and monetary policy," BIS Working Papers 460, Bank for International Settlements.
    51. Margarita Rubio, 2017. "Cross-country spillovers from macroprudential regulation: Reciprocity and leakage," Discussion Papers 2017/09, University of Nottingham, Centre for Finance, Credit and Macroeconomics (CFCM).
    52. Raquel Carrasco & Juan F. Jimeno & A. Carolina Ortega, 2011. "Accounting for changes in the Spanish wage distribution: the role of employment Composition effects," Working Papers 1120, Banco de España.
    53. Brendon, Charles & Paustian, Matthias & Yates, Tony, 2013. "The pitfalls of speed-limit interest rate rules at the zero lower bound," Bank of England working papers 473, Bank of England.
    54. Ferrero, Andrea & Harrison, Richard & Nelson, Ben, 2018. "Concerted efforts? Monetary policy and macro-prudential tools," Bank of England working papers 727, Bank of England.
    55. Carla La Croce & Lorenza Rossi, 2014. "Endogenous Entry, Banking, and Business Cycle," DEM Working Papers Series 072, University of Pavia, Department of Economics and Management.
    56. Eva Ortega & Margarita Rubio & Carlos Thomas, 2011. "House purchase versus rental in Spain," Working Papers 1108, Banco de España.
    57. Rubio, Margarita, 2016. "Short and long-term interest rates and the effectiveness of monetary and macroprudential policies," Journal of Macroeconomics, Elsevier, vol. 47(PA), pages 103-115.
    58. Margarita Rubio, 2021. "Macroprudential policies and Brexit: A welfare analysis," Discussion Papers 2021/04, University of Nottingham, Centre for Finance, Credit and Macroeconomics (CFCM).

  20. Javier Andrés & Samuel Hurtado & Eva Ortega & Carlos Thomas, 2009. "Spain in the euro: a general equilibrium analysis," Working Papers 0927, Banco de España.

    Cited by:

    1. J. E. Boscá & R. Doménech & J. Ferri & R. Méndez & J. F. Rubio-Ramírez, 2018. "Financial and Fiscal Shocks in the Great Recession and Recovery of the Spanish Economy," Working Papers 2018-05, FEDEA.
    2. Tim Schwarzmüller & Nikolai Stähler, 2013. "Reforming the labor market and improving competitiveness: an analysis for Spain using FiMod," SERIEs: Journal of the Spanish Economic Association, Springer;Spanish Economic Association, vol. 4(4), pages 437-471, November.
    3. Martín-Moreno, José M. & Pérez, Rafaela & Ruiz, Jesús, 2016. "Exploring the sources of Spanish macroeconomic fluctuations: An estimation of a small open economy DSGE model," International Review of Economics & Finance, Elsevier, vol. 45(C), pages 417-437.
    4. Samuel Hurtado & Carlos Thomas, 2010. "Un modelo de equilibrio general (BEMOD) para el análisis de la economía española en la zona del euro," Boletín Económico, Banco de España, issue JAN, pages 137-146, Enero.
    5. Kolasa, Marcin, 2014. "Real convergence and its illusions," Economic Modelling, Elsevier, vol. 37(C), pages 79-88.
    6. Julen Esteban‐Pretel & Elisa Faraglia, 2010. "Monetary Shocks in a Model with Skill Loss," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 42(7), pages 1235-1265, October.
    7. Luis J. Álvarez & Samuel Hurtado & Isabel Sánchez & Carlos Thomas, 2009. "The impact of oil price changes on Spanish and euro area consumer price inflation," Occasional Papers 0904, Banco de España.
    8. Dieppe, Alistair & Ortega, Eva & D'Agostino, Antonello & Karlsson, Tohmas & Benkovskis, Konstantins & Caivano, Michele & Hurtado, Samuel & Várnai, Tímea, 2011. "Assessing the sensitivity of inflation to economic activity," Working Paper Series 1357, European Central Bank.
    9. Jan in ’t Veld & Andrea Pagano & Rafal Raciborski & Marco Ratto & Werner Roeger, 2015. "Imbalances and Rebalancing in an Estimated Structural Model for Spain," International Journal of Central Banking, International Journal of Central Banking, vol. 11(1), pages 1-41, January.
    10. Piotr Nowaczyk & Joanna Hernik, 2020. "Adopting the Euro will Cause an Increase in Prices: A Study on Inflationary Processes in Euro Area Member States," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 377-403.
    11. Ciccarelli, Matteo & Osbat, Chiara, 2017. "Low inflation in the euro area: Causes and consequences," Occasional Paper Series 181, European Central Bank.
    12. Martínez-Martin, Jaime & Morris, Richard & Onorante, Luca & Piersanti, Fabio M., 2019. "Merging structural and reduced-form models for forecasting: opening the DSGE-VAR box," Working Paper Series 2335, European Central Bank.
    13. Doriane Intungane, 2023. "The impact of macroprudential policies on the transmission of shocks across financially integrated countries," Review of International Economics, Wiley Blackwell, vol. 31(1), pages 249-273, February.
    14. Nikolay Hristov, 2016. "The Ifo DSGE Model for the German Economy," ifo Working Paper Series 210, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
    15. Michał Brzoza-Brzezina & Marcin Kolasa & Krzysztof Makarski, 2013. "Macroprudential policy and imbalances in the euro area," NBP Working Papers 138, Narodowy Bank Polski.
    16. Samuel Hurtado & Elena Fernández & Eva Ortega & Alberto Urtasun, 2011. "Nueva actualización del modelo trimestral del Banco de España," Occasional Papers 1106, Banco de España.
    17. Colla-De-Robertis, Esteban & Da-Rocha, Jose-Maria & García-Cutrin, Javier & Gutiérrez, María-José & Prellezo, Raul, 2018. "A bayesian estimation of the economic effects of the Common Fisheries Policy on the Galician Fleet: a dynamic stochastic general equilibrium approach," MPRA Paper 89944, University Library of Munich, Germany.
    18. Jan in 't Veld & Andrea Pagano & Rafal Raciborski & Marco Ratto & Werner Roeger, 2012. "Imbalances and rebalancing scenarios in an estimated structural model for Spain," European Economy - Economic Papers 2008 - 2015 458, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    19. Gomez-Gonzalez, Patricia & Rees, Daniel M., 2018. "Same Spain, less pain?," European Economic Review, Elsevier, vol. 110(C), pages 78-107.
    20. Martín-Moreno, José M. & Pérez, Rafaela & Ruiz, Jesús, 2014. "A real business cycle model with tradable and non-tradable goods for the Spanish economy," Economic Modelling, Elsevier, vol. 36(C), pages 204-212.
    21. Jose Emilio Bosca & Rafael Domenech & Javier Ferri & Rodolfo Mendez-Marcano & Juan F. Rubio-Ramirez, 2018. "Perturbaciones financieras y fiscales en la crisis y recuperación de la economía española [Financial and Fiscal Shocks in the Great Recession and Recovery of the Spanish Economy]," Working Papers 18/08, BBVA Bank, Economic Research Department.
    22. Bleich, Dirk & Fendel, Ralf, 2012. "Monetary Policy Conditions in Spain Before and After the Changeover to the Euro: A Taylor Rule Based Assessment," Review of Applied Economics, Lincoln University, Department of Financial and Business Systems, vol. 8(1), pages 1-17, February.
    23. Cendejas Bueno, José Luis & Muñoz, Félix & Castañeda, Juan, 2013. "Expansión monetaria y ciclo económico en España: 1998-2012," Working Papers in Economic Theory 2013/09, Universidad Autónoma de Madrid (Spain), Department of Economic Analysis (Economic Theory and Economic History).
    24. Vogel, Lukas, 2012. "Structural reforms, fiscal consolidation and external rebalancing in monetary union: A model-based analysis," Economic Modelling, Elsevier, vol. 29(4), pages 1286-1298.
    25. José Luis Cendejas Bueno & Félix-Fernando Muñoz & Juan Castañeda, 2014. "When Money Matters," World Economics, World Economics, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 15(2), pages 77-110, April.

  21. Luis J. Álvarez & Samuel Hurtado & Isabel Sánchez & Carlos Thomas, 2009. "The impact of oil price changes on Spanish and euro area consumer price inflation," Occasional Papers 0904, Banco de España.

    Cited by:

    1. Moya-Martínez, Pablo & Ferrer-Lapeña, Román & Escribano-Sotos, Francisco, 2014. "Oil price risk in the Spanish stock market: An industry perspective," Economic Modelling, Elsevier, vol. 37(C), pages 280-290.
    2. Victor Okechukwu Nwatu & Alwell Nteegah & Adewale Dosumu, 2023. "Natural Gas Consumption and Price Stability in Top Gas-Producing Countries in Africa," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 7(11), pages 1096-1108, November.
    3. Cong, Rong-Gang & Shen, Shaochuan, 2013. "Relationships among Energy Price Shocks, Stock Market, and the Macroeconomy: Evidence from China," MPRA Paper 112211, University Library of Munich, Germany.
    4. Usama Almulali & Che Normee Binti Che Sab, 2013. "Exploring the impact of oil revenues on OPEC members' macroeconomy," OPEC Energy Review, Organization of the Petroleum Exporting Countries, vol. 37(4), pages 416-428, December.
    5. Tomislav Globan & Vladimir Arčabić & Petar Sorić, 2014. "Inflation in New EU Member States: A Domestically or Externally Driven Phenomenon?," EFZG Working Papers Series 1405, Faculty of Economics and Business, University of Zagreb.
    6. Civcir, Irfan & Akkoc, Ugur, 2021. "Non-linear ARDL approach to the oil-stock nexus: Detailed sectoral analysis of the Turkish stock market," Resources Policy, Elsevier, vol. 74(C).
    7. Xiao, Wei-Lin & Zhang, Wei-Guo & Yao, Zheng & Wang, Xiao-Hui, 2013. "The impact of issuing warrant and debt on behavior of the firm's stock," Economic Modelling, Elsevier, vol. 31(C), pages 635-641.
    8. Kpodar, Kangni & Liu, Boya, 2022. "The distributional implications of the impact of fuel price increases on inflation," Energy Economics, Elsevier, vol. 108(C).
    9. Siok Kun Sek, 2023. "A new look at asymmetric effect of oil price changes on inflation: Evidence from Malaysia," Energy & Environment, , vol. 34(5), pages 1524-1547, August.
    10. KARGI, Bilal, 2014. "The Effects of Oil Prices On Inflation and Growth: Time Series Analysis In Turkish Economy For 1988:01-2013:04 Period," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 5(2), pages 29-36.
    11. Logar, Ivana & van den Bergh, Jeroen C.J.M., 2013. "The impact of peak oil on tourism in Spain: An input–output analysis of price, demand and economy-wide effects," Energy, Elsevier, vol. 54(C), pages 155-166.
    12. Antonio J., Garzón & Luis A., Hierro, 2022. "Inflation, oil prices and exchange rates. The Euro’s dampening effect," Journal of Policy Modeling, Elsevier, vol. 44(1), pages 130-146.
    13. Aharon, David Y. & Azman Aziz, Mukhriz Izraf & Kallir, Ido, 2023. "Oil price shocks and inflation: A cross-national examination in the ASEAN5+3 countries," Resources Policy, Elsevier, vol. 82(C).
    14. Castro, César & Jerez, Miguel & Barge-Gil, Andrés, 2016. "The deflationary effect of oil prices in the euro area," Energy Economics, Elsevier, vol. 56(C), pages 389-397.
    15. John Baffes & M. Ayhan Kose & Franziska Ohnsorge & Marc Stocker, 2015. "The great plunge in oil prices: causes, consequences, and policy responses," CAMA Working Papers 2015-23, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
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    1. Francesco Zanetti & Tatsushi Okuda & Tomohiro Tsuruga, 2019. "Imperfect Information, Shock Heterogeneity, and Inflation Dynamics," Economics Series Working Papers 881, University of Oxford, Department of Economics.
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    5. Cacciatore, Matteo & Fiori, Giuseppe & Ghironi, Fabio, 2016. "Market deregulation and optimal monetary policy in a monetary union," Journal of International Economics, Elsevier, vol. 99(C), pages 120-137.
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    7. Tim Schwarzmüller & Nikolai Stähler, 2013. "Reforming the labor market and improving competitiveness: an analysis for Spain using FiMod," SERIEs: Journal of the Spanish Economic Association, Springer;Spanish Economic Association, vol. 4(4), pages 437-471, November.
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    9. Jesús Fernández-Villaverde & Federico Mandelman & Yang Yu & Francesco Zanetti, 2021. "The “Matthew Effect” and Market Concentration:Search Complementarities and Monopsony Power," Economics Series Working Papers 932, University of Oxford, Department of Economics.
    10. Lechthaler, Wolfgang & Merkl, Christian & Snower, Dennis J., 2010. "Monetary persistence and the labor market: A new perspective," Journal of Economic Dynamics and Control, Elsevier, vol. 34(5), pages 968-983, May.
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    16. Ellington, Michael & Martin, Chris & Wang, Bingsong, 2019. "Search Frictions and Evolving Labour Market Dynamics," The Warwick Economics Research Paper Series (TWERPS) 1195, University of Warwick, Department of Economics.
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    18. Michele Catalano & Emilia Pezzolla, 2017. "The Italian Labor Market Reform: An Evaluation of the Jobs Act Using the Prometeia DSGE Model," Italian Economic Journal: A Continuation of Rivista Italiana degli Economisti and Giornale degli Economisti, Springer;Società Italiana degli Economisti (Italian Economic Association), vol. 3(2), pages 209-238, July.
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    21. Ghironi, Fabio & Duval, Romain & Fiori, Giuseppe & Cacciatore, Matteo, 2015. "Short-Term Pain for Long-Term Gain: Market Deregulation and Monetary Policy in Small Open Economies," CEPR Discussion Papers 10982, C.E.P.R. Discussion Papers.
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    23. Bella Gabriel Di & Grigoli Francesco & Ramírez Francisco, 2020. "Is unemployment on steroids in advanced economies?," The B.E. Journal of Macroeconomics, De Gruyter, vol. 20(1), pages 1-17, January.
    24. Stefano Gnocchi & Evi Pappa, "undated". "Do labor market rigidities matter for business cycles? Yes they do," Working Papers 411, Barcelona School of Economics.
    25. Keshab Bhattarai & Huw Dixon, 2014. "Equilibrium Unemployment in a General Equilibrium Model with Taxes," Manchester School, University of Manchester, vol. 82(S1), pages 90-128, September.
    26. Athina Zervoyianni & Athanasios Anastasiou & Andreas Anastasiou, 2013. "Does Central Bank Independence Really Matter? Re-Assessing the Role of the Independence of Monetary Policymakers in Macroeconomic Outcomes," Working Paper series 03_13, Rimini Centre for Economic Analysis.
    27. Thomas Dengler & Britta Gehrke, 2022. "Short-Time Work and Precautionary Savings," CESifo Working Paper Series 9873, CESifo.
    28. Marcin Kolasa & Michał Rubaszek & Małgorzata Walerych, 2019. "Are flexible working hours helpful in stabilizing unemployment?," NBP Working Papers 319, Narodowy Bank Polski.
    29. Imen Ben Mohamed & Marine Salès, 2015. "Credit imperfections, labor market frictions and unemployment: a DSGE approach," Working Papers hal-01082471, HAL.
    30. Ahrens, Steffen & Wesselbaum, Dennis, 2009. "On the introduction of firing costs," Kiel Working Papers 1559, Kiel Institute for the World Economy (IfW Kiel).
    31. Cook, David & Xu, Juanyi, 2015. "Eurosclerosis and international business cycles," Journal of International Economics, Elsevier, vol. 95(1), pages 54-67.
    32. Jesus Fernandez-Villaverde & Federico Mandelman & Francesco Zanetti & Yang Yu, 2019. "Search Complementarities, Aggregate Fluctuations, and Fiscal Policy," 2019 Meeting Papers 380, Society for Economic Dynamics.
    33. Matteo Cacciatore & Giuseppe Fiori, 2015. "Online Appendix to "The Macroeconomic Effects of Goods and Labor Marlet Deregulation"," Online Appendices 14-313, Review of Economic Dynamics.
    34. Beqiraj, Elton & Tancioni, Massimiliano, 2023. "Subsidizing new jobs in the Euro-zone periphery," International Review of Economics & Finance, Elsevier, vol. 86(C), pages 380-401.
    35. Hassan Molana & Catia Montagna & George E. Onwordi, 2021. "De-Globalization, Welfare State Reforms and Labor Market Outcomes," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 69(4), pages 624-655, December.
    36. Kudoh, Noritaka & Miyamoto, Hiroaki, 2023. "Do general equilibrium effects matter for labor market dynamics?," Economic Modelling, Elsevier, vol. 119(C).
    37. Pizzinelli, Carlo & Theodoridis, Konstantinos & Zanetti, Francesco, 2020. "State Dependence in Labor Market Fluctuations," Cardiff Economics Working Papers E2020/2, Cardiff University, Cardiff Business School, Economics Section.
    38. Chris Martin & Magdalyn Okolo, 2022. "Modelling the Differing Impacts of Covid‐19 in the UK Labour Market," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 84(5), pages 994-1017, October.
    39. Francesco Zanetti & Haroon Mumtaz, 2014. "Labor Market Dynamics: a Time-varying Analysis," Economics Series Working Papers 728, University of Oxford, Department of Economics.
    40. Isabel Cairo & Jae Sim, 2017. "Income Inequality, Financial Crises and Monetary Policy," 2017 Meeting Papers 1433, Society for Economic Dynamics.
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    42. Rujin, Svetlana, 2019. "What are the effects of technology shocks on international labor markets?," Ruhr Economic Papers 806, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    43. Gnocchi, Stefano & Lagerborg, Andresa & Pappa, Evi, 2015. "Do labor market institutions matter for business cycles?," Journal of Economic Dynamics and Control, Elsevier, vol. 51(C), pages 299-317.
    44. Abbritti, Mirko & Mueller, Andreas I., 2012. "Asymmetric Labor Market Institutions in the EMU and the Volatility of Inflation and Unemployment Differentials," IZA Discussion Papers 6488, Institute of Labor Economics (IZA).
    45. Abbritti, Mirko & Weber, Sebastian, 2010. "Labor market institutions and the business cycle - unemployment rigidities vs. real wage rigidities," Working Paper Series 1183, European Central Bank.
    46. Romain Duval & Davide Furceri & Joao Jalles, 2020. "Job protection deregulation in good and bad times," Oxford Economic Papers, Oxford University Press, vol. 72(2), pages 370-390.
    47. Gill Hammond, 2012. "State of the art of inflation targeting," Handbooks, Centre for Central Banking Studies, Bank of England, edition 4, number 29, April.
    48. Ma�gorzata Skibi�ska, 2015. "Impact of labour market shocks on business cycle fluctuations in Poland," Bank i Kredyt, Narodowy Bank Polski, vol. 46(1), pages 1-40.
    49. Mariano Kulish & James Morley & Nadine Yamout & Francesco Zanetti, 2023. "Dutch Disease, Unemployment and Structural Change," Working Papers 262, Red Nacional de Investigadores en Economía (RedNIE).
    50. Tomasz Chmielewski & Andrzej Kocięcki & Tomasz Łyziak & Jan Przystupa & Ewa Stanisławska & Małgorzata Walerych & Ewa Wróbel, 2020. "Monetary policy transmission mechanism in Poland What do we know in 2019?," NBP Working Papers 329, Narodowy Bank Polski.
    51. Wesselbaum, Dennis, 2010. "Firing costs in a business cycle model with endogenous separations," Kiel Working Papers 1550 [rev.], Kiel Institute for the World Economy (IfW Kiel).
    52. Dur, Ayşe & Martínez García, Enrique, 2020. "Mind the gap!—A monetarist view of the open-economy Phillips curve," Journal of Economic Dynamics and Control, Elsevier, vol. 117(C).
    53. Monteforte, Fabio, 2020. "Structural change, the push-pull hypothesis and the Spanish labour market," Economic Modelling, Elsevier, vol. 86(C), pages 148-169.
    54. Rahul Anand & Purva Khera, 2016. "Macroeconomic Impact of Product and Labor Market Reforms on Informality and Unemployment in India," IMF Working Papers 2016/047, International Monetary Fund.
    55. Isabel Cairó & Avi Lipton, 2023. "Labor Market Discrimination and the Racial Unemployment Gap: Can Monetary Policy Make a Difference?," Finance and Economics Discussion Series 2023-065, Board of Governors of the Federal Reserve System (U.S.).
    56. Bonam, Dennis & de Haan, Jakob & van Limbergen, Duncan, 2021. "Time-varying wage Phillips curves in the euro area with a new measure for labor market slack," Economic Modelling, Elsevier, vol. 96(C), pages 157-171.
    57. Chiang, Shu-Hen & Lee, Chien-Chiang & Liao, Ying, 2021. "Exploring the sources of inflation dynamics: New evidence from China," Economic Analysis and Policy, Elsevier, vol. 70(C), pages 313-332.
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    59. Imen Ben Mohamed & Marine Salès, 2015. "Credit imperfections, labor market frictions and unemployment: a DSGE approach," Working Papers hal-01082491, HAL.
    60. Gratiela Georgiana Carica, 2011. "A Framework Analysis Of European Labour Market Policies," CES Working Papers, Centre for European Studies, Alexandru Ioan Cuza University, vol. 3(1), pages 13-21, March.
    61. Wataru Hirata, 2012. "Reconciling the Relevance of Labor Market Institutions in Search and Matching Models with International Evidence," Bank of Japan Working Paper Series 12-E-2, Bank of Japan.
    62. Régis Barnichon, 2009. "Demand-driven job separation: reconciling search models with the ins and outs of unemployment," Finance and Economics Discussion Series 2009-24, Board of Governors of the Federal Reserve System (U.S.).
    63. Morin, Annaïg, 2017. "Cyclicality of wages and union power," Labour Economics, Elsevier, vol. 48(C), pages 1-22.
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  23. Carlos Thomas, 2007. "Search Frictions, Real Rigidities and Inflation Dynamics," CEP Discussion Papers dp0822, Centre for Economic Performance, LSE.

    Cited by:

    1. Lawrence Christiano & Mathias Trabandt & Karl Walentin, 2021. "Involuntary Unemployment and the Business Cycle," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 39, pages 26-54, January.
    2. Thierry Betti & Thomas Coudert, 2022. "How harmful are cuts in public employment and wage in times of high unemployment?," Post-Print hal-03982745, HAL.
    3. Thierry Betti & Thomas Coudert, 2015. "How can the labor market accounts for the effectiveness of fiscal policy over the business cycle?," Working Papers of BETA 2015-16, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    4. Carlsson, Mikael & Westermark, Andreas, 2011. "The New Keynesian Phillips Curve and staggered price and wage determination in a model with firm-specific labor," Journal of Economic Dynamics and Control, Elsevier, vol. 35(4), pages 579-603, April.
    5. Konstantinos Theodoridis & Francesco Zanetti, 2016. "News shocks and labour market dynamics in matching models," Canadian Journal of Economics, Canadian Economics Association, vol. 49(3), pages 906-930, August.
    6. Kuester, Keith, 2010. "Real price and wage rigidities with matching frictions," Journal of Monetary Economics, Elsevier, vol. 57(4), pages 466-477, May.
    7. Maarten Dossche & Vivien Lewis & Céline Poilly, 2016. "Employment, Hours and the Welfare Effects of Intra-Firm Bargaining," Working Papers halshs-01367174, HAL.
    8. Jordi Galí, 2009. "Monetary policy and unemployment," Economics Working Papers 1198, Department of Economics and Business, Universitat Pompeu Fabra, revised Feb 2010.
    9. Craighead, William, 2016. "Hysteresis in a New Keynesian Model," MPRA Paper 70777, University Library of Munich, Germany.
    10. Dossche, Maarten & Lewis, Vivien & Poilly, Céline, 2014. "Employment, hours and optimal monetary policy," Working Paper Series 1713, European Central Bank.
    11. Willem Van Zandweghe, 2009. "On-the-job search, sticky prices, and persistence," Research Working Paper RWP 09-03, Federal Reserve Bank of Kansas City.
    12. Francesco Zanetti & Konstantinos Theodoridis, 2014. "News and Labor Market Dynamics in the Data and in Matching Models," Economics Series Working Papers 699, University of Oxford, Department of Economics.
    13. Lawrence J. Christiano & Mathias Trabandt & Karl Walentin, 2010. "DSGE models for monetary policy analysis," FRB Atlanta CQER Working Paper 2010-02, Federal Reserve Bank of Atlanta.
    14. Michael Krause & David Lopez-Salido & Thomas Lubik, 2008. "Inflation Dynamics With Search Frctions: A Structural Econometric Analysis," CAMA Working Papers 2008-06, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    15. Sergio A. Lago Alves, 2018. "Monetary Policy, Trend Inflation, and Unemployment Volatility," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 50(4), pages 637-673, June.
    16. Casares, Miguel, 2013. "On firm-level, industry-level, and aggregate employment fluctuations," Journal of Economic Dynamics and Control, Elsevier, vol. 37(12), pages 2963-2978.
    17. Aitor Erce, 2008. "A structural model of sovereign debt issuance: assessing the role of financial factors," Working Papers 0809, Banco de España.
    18. William D. Craighead, 2012. "Monetary Rules and Sectoral Unemployment in Open Economies," Wesleyan Economics Working Papers 2012-001, Wesleyan University, Department of Economics.
    19. Christoffel, Kai & Costain, James & de Walque, Gregory & Kuester, Keith & Linzert, Tobias & Millard, Stephen & Pierrard, Olivier, 2009. "Inflation dynamics with labour market matching: assessing alternative specifications," Bank of England working papers 375, Bank of England.
    20. Kilponen, Juha & Vanhala, Juuso, 2009. "Productivity and job flows: heterogeneity of new hires and continuing jobs in the business cycle," Working Paper Series 1080, European Central Bank.
    21. Isabel Cairo & Jae Sim, 2017. "Income Inequality, Financial Crises and Monetary Policy," 2017 Meeting Papers 1433, Society for Economic Dynamics.
    22. Pierrick Clerc, 2021. "The Dynamics of Unemployment and Inflation in New Keynesian Models with Two Labor Margins," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 53(2-3), pages 301-332, March.
    23. Sergio A. Lago Alves, 2012. "Trend Inflation and the Unemployment Volatility Puzzle," Working Papers Series 277, Central Bank of Brazil, Research Department.
    24. 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.
    25. Thomas COUDERT, 2015. "Inflation persistence and bargained firing costs," Working Papers of LaRGE Research Center 2015-04, Laboratoire de Recherche en Gestion et Economie (LaRGE), Université de Strasbourg.
    26. Arnildo Da Silva Correa & Sergio Afonso Lago Alves, 2016. "A Tale Of Three Gaps: Unemployment, Capacity Utilization And Output," Anais do XLII Encontro Nacional de Economia [Proceedings of the 42nd Brazilian Economics Meeting] 031, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    27. Barnichon, Regis, 2010. "Productivity and unemployment over the business cycle," Journal of Monetary Economics, Elsevier, vol. 57(8), pages 1013-1025, November.
    28. Sveen, Tommy & Weinke, Lutz, 2009. "Inflation and labor market dynamics revisited," Journal of Monetary Economics, Elsevier, vol. 56(8), pages 1096-1100, November.
    29. Poilly, Céline & Wesselbaum, Dennis, 2014. "Evaluating labor market reforms: A normative analysis," Journal of Macroeconomics, Elsevier, vol. 39(PA), pages 156-170.

  24. Carlos Thomas, 2006. "Search and Matching Frictions and Optimal Monetary Policy," CEP Discussion Papers dp0743, Centre for Economic Performance, LSE.

    Cited by:

    1. Carlos Thomas, 2007. "Search Frictions, Real Rigidities and Inflation Dynamics," CEP Discussion Papers dp0822, Centre for Economic Performance, LSE.
    2. Brown, Alessio J. G. & Merkl, Christian & Snower, Dennis J., 2009. "An Incentive Theory of Matching," IZA Discussion Papers 4145, Institute of Labor Economics (IZA).
    3. Faia, Ester, 2006. "Optimal monetary policy rules with labor market frictions," Working Paper Series 698, European Central Bank.
    4. Isabel Cairó & Shigeru Fujita & Camilo Morales-Jimenez, 2020. "The Cyclicality of Labor Force Participation Flows: The Role of Labor Supply Elasticities and Wage Rigidity," Working Papers 20-23, Federal Reserve Bank of Philadelphia.
    5. Batini, Nicoletta & Kim, Young-Bae & Levine, Paul & Lotti, Emanuela, 2011. "Informal Labour and Credit Markets: A Survey," Working Papers 11/94, National Institute of Public Finance and Policy.
    6. Hauser, Daniela & Seneca, Martin, 2019. "Labor mobility in a monetary union," Bank of England working papers 786, Bank of England.
    7. Cacciatore, Matteo & Fiori, Giuseppe & Ghironi, Fabio, 2016. "Market deregulation and optimal monetary policy in a monetary union," Journal of International Economics, Elsevier, vol. 99(C), pages 120-137.
    8. Nicoletta Batini & Paul Levine & Emanuela Lotti & Bo Yang, 2011. "Informality, Frictions and Monetary Policy," School of Economics Discussion Papers 0711, School of Economics, University of Surrey.
    9. Verónica Acurio Vásconez, 2015. "Oil and Unemployment in a New-Keynesian Model," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-01167053, HAL.
    10. Ciccarone Giuseppe & Giuli Francesco & Marchetti Enrico, 2020. "Prospect Theory and sentiment-driven fluctuations," The B.E. Journal of Macroeconomics, De Gruyter, vol. 20(1), pages 1-25, January.
    11. Moon, Weh-Sol, 2011. "The Business Cycle with Nominal Contracts and Search Frictions," MPRA Paper 57457, University Library of Munich, Germany, revised 21 Jul 2014.
    12. Sarunas Girdenas, 2016. "A Note on Simple Monetary Policy Rules with Labour Market and Financial Frictions," Discussion Papers 1601, University of Exeter, Department of Economics.
    13. Cacciatore, Matteo & Ghironi, Fabio & Lee, Yurim, 2016. "Financial market integration, exchange rate policy, and the dynamics of business and employment in Korea," Journal of the Japanese and International Economies, Elsevier, vol. 42(C), pages 79-99.
    14. Lechthaler, Wolfgang & Merkl, Christian & Snower, Dennis J., 2010. "Monetary persistence and the labor market: A new perspective," Journal of Economic Dynamics and Control, Elsevier, vol. 34(5), pages 968-983, May.
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    16. Ester Faia & Wolfgang Lechthaler & Christian Merkl, 2014. "Labor Selection, Turnover Costs, and Optimal Monetary Policy," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 46(1), pages 115-144, February.
    17. Boukraine, Wissem & Guerchi Mehri, Hella, 2022. "Should Tunisian Optimal Monetary Policy React to Wage Inflation? Evidence From A DSGE Model with Labor Market Frictions," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 75(1), pages 29-50.
    18. Federico Ravenna & Carl E. Walsh, 2009. "Welfare-based optimal monetary policy with unemployment and sticky prices: a linear-quadratic framework," Working Paper Series 2009-15, Federal Reserve Bank of San Francisco.
    19. Takushi Kurozumi & Willem Van Zandweghe, 2010. "Labor market search, the Taylor principle, and indeterminacy," Research Working Paper RWP 11-01, Federal Reserve Bank of Kansas City.
    20. Abo-Zaid, Salem, 2013. "Optimal monetary policy and downward nominal wage rigidity in frictional labor markets," Journal of Economic Dynamics and Control, Elsevier, vol. 37(1), pages 345-364.
    21. Maarten Dossche & Vivien Lewis & Céline Poilly, 2016. "Employment, Hours and the Welfare Effects of Intra-Firm Bargaining," Working Papers halshs-01367174, HAL.
    22. Jordi Galí & Frank Smets & Rafael Wouters, 2011. "Unemployment in an Estimated New Keynesian Model," NBER Working Papers 17084, National Bureau of Economic Research, Inc.
    23. Jianhua Feng & Chan Wang & Liyuan Wu & Dingsheng Zhang, 2021. "Unemployment, Trade Openness and Optimal Monetary Policy," Annals of Economics and Finance, Society for AEF, vol. 22(1), pages 231-253, May.
    24. Ravenna, Federico & Walsh, Carl E., 2012. "Monetary policy and labor market frictions: A tax interpretation," Journal of Monetary Economics, Elsevier, vol. 59(2), pages 180-195.
    25. Ghironi, Fabio & Cacciatore, Matteo, 2020. "Trade, Unemployment, and Monetary Policy," CEPR Discussion Papers 14952, C.E.P.R. Discussion Papers.
    26. Castillo, Paul & Montoro, Carlos, 2010. "Monetary Policy in the presence of Informal Labour Markets," Working Papers 2010-009, Banco Central de Reserva del Perú.
    27. Florin Bilbiie & Ippei Fujiwara & Fabio Ghironi, 2014. "Optimal monetary policy with endogenous entry and product variety," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00975152, HAL.
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    30. Föll, Tobias, 2017. "Financial Constraints, Wage Rigidity, and the Labor Market," VfS Annual Conference 2017 (Vienna): Alternative Structures for Money and Banking 168080, Verein für Socialpolitik / German Economic Association.
    31. Abbritti, Mirko & Fahr, Stephan, 2013. "Downward wage rigidity and business cycle asymmetries," Journal of Monetary Economics, Elsevier, vol. 60(7), pages 871-886.
    32. Federico Ravenna & Carl E. Walsh, 2010. "The Welfare Consequences of Monetary Policy and the Role of the Labor Market: a Tax Interpretation," Cahiers de recherche 1028, CIRPEE.
    33. Antoine Lepetit, 2019. "Online Appendix to "Asymmetric Unemployment Fluctuations and Monetary Policy Trade-Offs"," Online Appendices 18-94, Review of Economic Dynamics.
    34. Gomez Ospina, Monica A., 2023. "Optimal monetary policy in developing countries: The role of informality," Journal of Economic Dynamics and Control, Elsevier, vol. 155(C).
    35. Brecht Boone & Freddy Heylen, 2019. "Cross‐Country Differences in Unemployment: Fiscal Policy, Unions, and Household Preferences in General Equilibrium," Scandinavian Journal of Economics, Wiley Blackwell, vol. 121(3), pages 1270-1302, July.
    36. Olivier Blanchard & Jordi Galí, 2010. "Labor Markets and Monetary Policy: A New Keynesian Model with Unemployment," American Economic Journal: Macroeconomics, American Economic Association, vol. 2(2), pages 1-30, April.
    37. Özge Dilaver & Robert Jump & Paul Levine, 2016. "Agent-based Macroeconomics and Dynamic Stochastic General Equilibrium Models: Where do we go from here?," School of Economics Discussion Papers 0116, School of Economics, University of Surrey.
    38. 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.
    39. Paul Castillo B. & Carlos Montoro Ll., 2012. "Inflation Dynamics in the Presence of Informal Labour Markets," Journal Economía Chilena (The Chilean Economy), Central Bank of Chile, vol. 15(1), pages 4-31, April.
    40. Jordi Galí, 2009. "Monetary policy and unemployment," Economics Working Papers 1198, Department of Economics and Business, Universitat Pompeu Fabra, revised Feb 2010.
    41. Craighead, William, 2016. "Hysteresis in a New Keynesian Model," MPRA Paper 70777, University Library of Munich, Germany.
    42. Gregory De Walque & Olivier Pierrard & Henri Sneessens & Raf Wouters, 2009. "Sequential Bargaining in a Neo-Keynesian Model with Frictional Unemployment and Staggered Wage Negotiations," Annals of Economics and Statistics, GENES, issue 95-96, pages 223-250.
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    45. Takeki Sunakawa, 2015. "Optimal Monetary Policy with Labor Market Frictions: The Role of the Wage Channel," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 47(6), pages 1119-1147, September.
    46. Sanjay K. Chugh & David M. Arseneau, 2009. "Tax Smoothing in Frictional Labor Markets," 2009 Meeting Papers 202, Society for Economic Dynamics.
    47. Bandiera, Guilherme & Pappa, Evi & Sajedi, Rana & Vella, Eugenia, 2016. "Fiscal consolidation in a low inflation environment: pay cuts versus lost jobs," Bank of England working papers 628, Bank of England.
    48. Lechthaler, Wolfgang & Snower, Dennis J., 2013. "Quadratic Labor Adjustment Costs, Business Cycle Dynamics, And Optimal Monetary Policy," Macroeconomic Dynamics, Cambridge University Press, vol. 17(2), pages 464-475, March.
    49. Campolmi, Alessia & Gnocchi, Stefano, 2016. "Labor market participation, unemployment and monetary policy," Journal of Monetary Economics, Elsevier, vol. 79(C), pages 17-29.
    50. Dossche, Maarten & Lewis, Vivien & Poilly, Céline, 2014. "Employment, hours and optimal monetary policy," Working Paper Series 1713, European Central Bank.
    51. Isabel Cairo & Shigeru Fujita & Camilo Morales-Jimenez, 2021. "Online Appendix to "The Cyclicality of Labor Force Participation Flows: The Role of Labor"," Online Appendices 20-507, Review of Economic Dynamics.
    52. Emmanuel Saez & Pascal Michaillat, 2013. "A Theory of Aggregate Supply and Aggregate Demand as Functions of Market Tightness with Prices as Parameters," 2013 Meeting Papers 1216, Society for Economic Dynamics.
    53. Sala, Luca & Söderström, Ulf & Trigari, Antonella, 2008. "Monetary Policy Under Uncertainty in an Estimated Model with Labour Market Frictions," CEPR Discussion Papers 6826, C.E.P.R. Discussion Papers.
    54. Chun-Hung Kuo & Hiroaki Miyamoto, 2016. "Unemployment and Wage Rigidity in Japan: A DSGE Model Perspective," Working Papers EMS_2016_06, Research Institute, International University of Japan.
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    62. Louis Phaneuf & Jean Gardy Victor, 2019. "Long‐Run Inflation and the Distorting Effects of Sticky Wages and Technical Change," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 51(1), pages 5-42, February.
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    64. Carl Walsh & Federico Ravenna, 2007. "Vacancies, Unemployment, and the Phillips Curve," 2007 Meeting Papers 1014, Society for Economic Dynamics.
    65. Železník Martin, 2011. "Labor Market Regulation and its Characteristics: Comparison Between Czech Republic and Austria," Review of Economic Perspectives, Sciendo, vol. 11(2), pages 93-120, January.
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    108. Kienzler, Daniel, 2012. "Long-term Unemployment over the Business Cycle, Skill Loss, and Monetary Policy," Working Papers on Finance 1205, University of St. Gallen, School of Finance.
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    116. Carreño Bustos, José Gabo, 2023. "Flexible Contracts as Business Cycle Stabilizers," Discussion Paper 2023-007, Tilburg University, Center for Economic Research.
    117. Lechthaler, Wolfgang & Tesfaselassie, Mewael, 2015. "Trend growth, unemployment and optimal monetary policy," Kiel Working Papers 2003, Kiel Institute for the World Economy (IfW Kiel).
    118. Kurozumi, Takushi & Van Zandweghe, Willem, 2012. "Learning about monetary policy rules when labor market search and matching frictions matter," Journal of Economic Dynamics and Control, Elsevier, vol. 36(4), pages 523-535.
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Articles

  1. Galo Nuño & Carlos Thomas, 2022. "Optimal Redistributive Inflation," Annals of Economics and Statistics, GENES, issue 146, pages 3-63.

    Cited by:

    1. Rodolfo G. Campos & Jesús Fernández-Villaverde & Galo Nuño & Peter Paz, 2024. "Navigating by Falling Stars: Monetary Policy with Fiscally Driven Natural Rates," NBER Working Papers 32219, National Bureau of Economic Research, Inc.
    2. Xavier Ragot & François Le Grand, 2023. "Optimal Policies with Heterogeneous Agents: Truncation and Transitions," Working Papers halshs-03922354, HAL.

  2. Javier Andres & Oscar Arce & Dominik Thaler & Carlos Thomas, 2020. "When Fiscal Consolidation Meets Private Deleveraging," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 37, pages 214-233, July.
    See citations under working paper version above.
  3. Arce, Óscar & Nuño, Galo & Thaler, Dominik & Thomas, Carlos, 2020. "A large central bank balance sheet? Floor vs corridor systems in a New Keynesian environment," Journal of Monetary Economics, Elsevier, vol. 114(C), pages 350-367.
    See citations under working paper version above.
  4. Juha Kilponen & Massimiliano Pisani & Sebastian Schmidt & Vesna Corbo & Tibor Hledik & Josef Hollmayr & Samuel Hurtado & Paulo Júlio & Dmitry Kulikov & Matthieu Lemoine & Matija Lozej & Henrik Lundval, 2019. "Comparing Fiscal Consolidation Multipliers across Models in Europe," International Journal of Central Banking, International Journal of Central Banking, vol. 15(3), pages 285-320, September.

    Cited by:

    1. Ginters Bušs & Patrick Grüning, 2023. "Fiscal DSGE model for Latvia," Baltic Journal of Economics, Baltic International Centre for Economic Policy Studies, vol. 23(1), pages 2173915-217.
    2. Vanda Almeida & Salvador Barrios & Michael Christl & Silvia De Poli & Alberto Tumino & Wouter van der Wielen, 2020. "Households' income and the cushioning effect of fiscal policy measures during the Great Lockdown," JRC Working Papers on Taxation & Structural Reforms 2020-06, Joint Research Centre.
    3. Aldama Pierre & Gaulier Guillaume & Lemoine Matthieu & Robert Pierre-Antoine & Turunen Harri & Zhutova Anastasia, 2022. "The EA-BDF Model and Government Spending Multipliers in a Monetary Union," Working papers 883, Banque de France.
    4. Pablo Garcia & Pascal Jacquinot & ÄŒrt LenarÄ iÄ & Matija Lozej & Kostas Mavromatis, 2023. "Global models for a global pandemic: the impact of COVID-19 on small euro area economies," Working Papers 782, DNB.
    5. John Nana Francois & Andrew Keinsley, 2023. "Intratemporal elasticity of substitution between private and public consumption: new evidence and implications," Empirical Economics, Springer, vol. 65(4), pages 1655-1692, October.
    6. António Afonso & Eduardo Rodrigues, 2024. "Is public investment in construction and in R&D, growth enhancing? A PVAR approach," Applied Economics, Taylor & Francis Journals, vol. 56(24), pages 2875-2899, May.
    7. Dimitris Malliaropulos & Dimitris Papageorgiou & Melina Vasardani & Evangelia Vourvachaki, 2021. "The impact of the Recovery and Resilience Facility on the Greek economy," Economic Bulletin, Bank of Greece, issue 53, pages 7-28, July.
    8. van der Wielen, Wouter, 2020. "The macroeconomic effects of tax changes: Evidence using real-time data for the European Union," Economic Modelling, Elsevier, vol. 90(C), pages 302-321.
    9. 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.
    10. Eduardo de Sá Fortes Leitão Rodrigues, 2020. "Uncertainty And The Effectiveness Of Fiscal Policy In The United States And Brazil: Svar Approach," Working Papers REM 2020/0150, ISEG - Lisbon School of Economics and Management, REM, Universidade de Lisboa.
    11. Pei Kuang & Kaushik Mitra, 2022. "Potential Output Pessimism and Austerity in the European Union," Discussion Papers 22-08, Department of Economics, University of Birmingham.
    12. Badarau, Cristina & Huart, Florence & Sangaré, Ibrahima, 2021. "Macroeconomic and policy implications of eurobonds," International Review of Law and Economics, Elsevier, vol. 65(C).
    13. Hickey, Rónán & Lozej, Matija & Smyth, Diarmaid, 2020. "Financing government investment and its implications for public capital: A small open economy perspective," Economic Modelling, Elsevier, vol. 93(C), pages 620-641.
    14. Matteo Deleidi & Davide Romaniello & Francesca Tosi, 2021. "Quantifying fiscal multipliers in Italy: A Panel SVAR analysis using regional data," Papers in Regional Science, Wiley Blackwell, vol. 100(5), pages 1158-1177, October.
    15. Takeshi Yagihashi, 2020. "DSGE Models Used by Policymakers: A Survey," Discussion papers ron333, Policy Research Institute, Ministry of Finance Japan.
    16. Eduardo de Sa Fortes Leitao Rodrigues, 2023. "Uncertainty and the effectiveness of fiscal policy in the United States and Brasil: SVAR Approach," Working Papers 2023.03, International Network for Economic Research - INFER.

  5. Alessandro Galesi & Galo Nuño & Carlos Thomas, 2017. "The natural interest rate: concept, determinants and implications for monetary policy," Economic Bulletin, Banco de España, issue MAR.

    Cited by:

    1. Pablo Aguilar & Óscar Arce & Samuel Hurtado & Jaime Martínez-Martín & Galo Nuño & Carlos Thomas, 2020. "The ECB monetary policy response to the Covid-19 crisis," Occasional Papers 2026, Banco de España.
    2. Susana Párraga & Pedro del Río & Juan Luis Vega, 2019. "The Federal Reserve review of its monetary policy framework," Economic Bulletin, Banco de España, issue DEC.
    3. Javier G. Gómez-Pineda, 2018. "A well-timed raise in inflation targets," Borradores de Economia 1042, Banco de la Republica de Colombia.
    4. Juan Carlos Berganza & Alberto Fuertes, 2018. "The flattening of the yield curve in the United States," Economic Bulletin, Banco de España, issue MAR.
    5. Kan Chen & Nathaniel Karp, 2018. "Natural interest rates in the U.S., Canada and Mexico," Working Papers 18/07, BBVA Bank, Economic Research Department.
    6. Pablo Aguilar & Óscar Arce & Samuel Hurtado & Jaime Martínez-Martín & Galo Nuño & Carlos Thomas, 2020. "La respuesta de la política monetaria del Banco Central Europeo frente a la crisis del Covid-19," Occasional Papers 2026, Banco de España.

  6. Andrés, Javier & Arce, Óscar & Thomas, Carlos, 2017. "Structural reforms in a debt overhang," Journal of Monetary Economics, Elsevier, vol. 88(C), pages 15-34.
    See citations under working paper version above.
  7. Galo Nuño & Carlos Thomas, 2017. "Bank Leverage Cycles," American Economic Journal: Macroeconomics, American Economic Association, vol. 9(2), pages 32-72, April.
    See citations under working paper version above.
  8. Óscar Arce & Samuel Hurtado & Carlos Thomas, 2016. "Policy Spillovers and Synergies in a Monetary Union," International Journal of Central Banking, International Journal of Central Banking, vol. 12(3), pages 219-277, September.
    See citations under working paper version above.
  9. Anton Nakov & Carlos Thomas, 2014. "Optimal Monetary Policy with State-Dependent Pricing," International Journal of Central Banking, International Journal of Central Banking, vol. 10(3), pages 49-94, September.
    See citations under working paper version above.
  10. Jimeno, Juan F. & Thomas, Carlos, 2013. "Collective bargaining, firm heterogeneity and unemployment," European Economic Review, Elsevier, vol. 59(C), pages 63-79.
    See citations under working paper version above.
  11. Javier Andr√Âs & √Ìscar Arce & Carlos Thomas, 2013. "Banking Competition, Collateral Constraints, and Optimal Monetary Policy," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 45(s2), pages 87-125, December.
    See citations under working paper version above.
  12. Stähler, Nikolai & Thomas, Carlos, 2012. "FiMod — A DSGE model for fiscal policy simulations," Economic Modelling, Elsevier, vol. 29(2), pages 239-261.
    See citations under working paper version above.
  13. Carlos Thomas, 2011. "Search Frictions, Real Rigidities, and Inflation Dynamics," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 43(6), pages 1131-1164, September.
    See citations under working paper version above.
  14. Álvarez, Luis J. & Hurtado, Samuel & Sánchez, Isabel & Thomas, Carlos, 2011. "The impact of oil price changes on Spanish and euro area consumer price inflation," Economic Modelling, Elsevier, vol. 28(1-2), pages 422-431, January.
    See citations under working paper version above.
  15. Javier Andrés & Samuel Hurtado & Eva Ortega & Carlos Thomas, 2010. "Spain in the Euro: a general equilibrium analysis," SERIEs: Journal of the Spanish Economic Association, Springer;Spanish Economic Association, vol. 1(1), pages 67-95, March.
    See citations under working paper version above.
  16. James Costain & Juan F. Jimeno & Carlos Thomas, 2010. "Employment fluctuations in a dual labour market," Economic Bulletin, Banco de España, issue APR, pages 129-137, April.
    See citations under working paper version above.
  17. Thomas, Carlos & Zanetti, Francesco, 2009. "Labor market reform and price stability: An application to the Euro Area," Journal of Monetary Economics, Elsevier, vol. 56(6), pages 885-899, September.
    See citations under working paper version above.
  18. Thomas, Carlos, 2008. "Search and matching frictions and optimal monetary policy," Journal of Monetary Economics, Elsevier, vol. 55(5), pages 936-956, July.
    See citations under working paper version above.

Software components

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