The paper reviews the recent conduct of monetary policy and the central bank's rule-based behavior in Russia. Using different policy rules, we...

The paper reviews the recent conduct of monetary policy and the central bank's rule-based behavior in Russia. Using different policy rules, we...

The recent Great Recession had very heterogeneous effects on the labor markets in industrialized countries. We analyze the role of three labor...

Recession has put many Eurozone labor markets under stress, particularly those in Mediterranean countries that have inflexible markets. As...

This paper characterizes long-run and short-run optimal fiscal policy in the labor selection framework. In a calibrated non-Ramsey...

This paper characterizes e fficient labor-market allocations in a labor selection model. The model's crucial aspect is cross-sectional...

This paper analyzes Germany’s unusual labor market experience during the Great Recession. We estimate a general equilibrium model with a...

This paper analyzes Germany’s unusual labor market experience during the Great Recession. We estimate a general equilibrium model with a...

Many labor market models use both idiosyncratic productivity and a vacancy free entry condition. This paper shows that these two features...

This paper is the first to show theoretically and empirically how firms' production technology affects the choice of their preferred wage...

In the Great Recession most OECD countries used short-time work (publicly subsidized working time reductions) to counteract a steep increase...

This paper analyzes the effects of different labor market institutions on inflation and output volatility. The eurozone offers an...

This paper shows that the German labor market is more volatile than the US labor market. Specifically, the volatility of the cyclical...

In the standard New Keynesian sticky price model the central bank faces no contradiction between the stabilization of inflation and the...

This paper provides a theoretical and quantitative analysis of various types of wellknown employment subsidies. Two important questions are...

This paper analyzes the role of banks’ regulatory capitalization in the transmission of monetary policy. We use a confidential dataset for...

The East German labor market has hardly made any progress since German reunification, despite massive migration flows and support from the...

The East German labor market has hardly made any progress since German reunification, despite massive migration flows and support from the...

Firms select not only how many, but also which workers to hire. Yet, in standard search models of the labor market, all workers have the same...

The labor market in Germany is more sclerotic and volatile than in the US. We show theoretically that sclerosis and large volatilities are two...