We analyze the implications of changes in the trend growth rate for optimal monetary policy in the presence of search and matching...

Kiel Policy Brief No. 5

Kiel Policy Brief No. 70: The authors Sebastian Braun, Wolfgang Lechthaler and Mariya Mileva show that trade liberalization increases...

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

We study optimal monetary policy and welfare properties of a DSGE model with a labor selection process, labor turnover costs and Nash...

We analyze the implications of trend growth for optimal monetary policy in the presence of search and matching unemployment. We show...

We use a dynamic general equilibrium trade model with comparative advantage, heterogeneous firms, heterogeneous workers and endogenous...

When the world economy was recently hit by a severe recession, governments all over the world reacted by initiating stimulus packages....

When the world economy was recently hit by a severe recession, governments all over the world reacted by initiating stimulus packages....

Analyses of the effects of trade policies focus on comparisons of two different steady states, restricting the investigation to the...

Why are empirically observed tariffs so much lower than theoretically calculated Nash-equilibrium tariffs? We argue that this gap can...

We introduce search and matching unemployment into a model of trade with differentiated goods and heterogeneous firms. Countries may...

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

We develop a dynamic general equilibrium trade model with comparative advantage, heterogeneous firms, heterogeneous workers and...

We build quadratic labor adjustment costs into an otherwise standard New-Keynesian model of the business cycle and show that this...

We study the design of optimal monetary policy in a New Keynesian model with labor turnover costs in which wages are set according to...

It is common knowledge that the standard New Keynesian model is not able to generate a persistent response in output to temporary...

In this paper we propose a novel way to model the labor market in the context of a New-Keynesian general equilibrium model,...