Browsing by Subject "MACROECONOMICS AND MONETARY ECONOMICS"
Now showing items 21-40 of 56
-
Is there a Phillips Curve in the US and the EU15 Countries? An empirical investigation
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2002-08)This paper studies the comovement between output and inflation in the EU15 countries. Following den Haan (2000), I use the correlations of VAR forecast errors at different horizons in order to analyze the output-inflation ... -
Long-Term Growth and Persistence with Endogenous Depreciation: Theory and Evidence
(Departamento de Fundamentos dle Análisis Económico I, 2013)Previous research has shown a strong positive correlation between short-term persistence and long-term output growth as well as between depreciation rates and long-term output growth. This evidence, therefore, contradicts ... -
Lowndes and Locke on the value of money
(2007)In this paper I analyze the monetary theories underlying the arguments that Locke and Lowndes directed against each other during their discussions around the Great Recoinage of 1696. My primary place of interest is the ... -
Markov Switching Risk Premium and the term structure of interest rates. Empirical evidence from US post-war interest rates
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2002-04)This paper considers the basic present value model of interest rates under rational expectations with two additional features. First, following McCallum (1994), the model assumes a policy reaction function where changes ... -
Monte Carlo Valuation of natural gas investments
(2006-07)This paper deals with the valuation of energy assets related to natural gas. In particular, we evaluate a baseload Natural Gas Combined Cycle (NGCC) power plant and an ancillary instalation, namely a Liquefied Natural Gas ... -
New Keynesian Model Features that Can Reproduce Lead, Lag and Persistence Patterns
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2010-04)This paper uses a new method for describing dynamic comovement and persistence in economic time series which builds on the contemporaneous forecast error method developed in den Haan (2000). This data description method ... -
Nuevas necesidades, nuevas actividades y nuevos yacimientos de empleo. Desafíos y perspectivas
(Escuela Universitaria de Estudios Empresariales, 1996)Comenzando por una breve perspectiva histórica y seguido de una exposición breve de los rasgos más distintivos de la evolución experimentada por los niveles de desempleo de las economías europeas y su comparación con lo ... -
Nuevas tecnologías y empleo
(Escuela Universitaria de Estudios Empresariales, 1995)Las nuevas tecnologías de innovación tienen incidencia sobre el empleo : incidencia positiva, o negativa,derivada de condicionamientos sociales y económicos y políticos.Incidencia positiva, por las nuevas demandas económicas ... -
On the Informational Role of Term Structure in the U.S. Monetary Policy Rule
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2010-01)This paper uses a structural approach based on the indirect inference principle to estimate a standard version of the new Keynesian monetary (NKM) model augmented with term structure using both revised and real-time data. ... -
Optimal Fiscal Policy with Rationing in the Labor Market
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2002-07)This paper characterizes the optimal fiscal policy when it is assumed that there exists a minimum wage below which no worker can be hired. The rigidity due to the minimum wage legislation can lead to equilibria in which ... -
Optimal Minimum Wage in a Competitive Economy: an Alternative Modelling Approach
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2004)This paper analyzes whether a minimum wage can be an optimal redistribution policy when distorting taxes and lump-sum transfers are also available in a competitive economy. We build a static general equilibrium model with ... -
Optimal Monetary Policy with Asymmetric Preferences for Output
(2012-11-15)Using a model of an optimizing monetary authority which has preferences that weigh inflation and unemployment, Ruge-Murcia (2003, 2004) finds empirical evidence that the authority has asymmetric preferences for ... -
Output dynamics in an endogenous growth model
(2003-07)The aim of this paper is to analyze whether endogenous growth RBC models are consistent with two stylized facts about U.S. output dynamics. First, GNP growth is positively correlated in the short run and it has a weak ... -
Paper unemployment: the irish experience
(Escuela Universitaria de Estudios Empresariales, 1996)When asked to give a paper at this conference I choosee "Incentive to encourage youth employment" but very soon into my research I felt that the overall approach to unemployment by succesive Irish Governments offered more ... -
La política de empleo en la Unión Europea
(Escuela Universitaria de Estudios Empresariales, 1996)La estrategia europea en favor del empleo aplica, de forma simultánea y coordinada,medidas de política macroeconómica y medidas de reforma estuctural. A través de la austeridad presupuestaria y de la moderación salarial ... -
Population age structure and private consumption in Spain
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2002)In this paper we study the effect of population age distribution upon private consumption expenditure in Spain from 1964 to 1997 using aggregate data. We obtain four main results. First, changes in the population pyramid ... -
Prices and the Real Exchange Rate in Hong Kong: 1985-2006
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2010-11)This paper seeks to quantify to the extent to which price dynamics in Hong Kong are due to the Balassa-Samuelson hypothesis. From 1985 to 1998, the CPI in Hong Kong increased spectacularly, yet there was dramatic deflation ... -
Reflexiones sobre el trabajo y el empleo. Perspectiva de futuro
(Escuela Universitaria de Estudios Empresariales, 1995)El objeto del presente articulo es exponer mis tesis e ideas sobre los retos que el trabajo y el empleo tienen ante sí de cara a los años venideros, si bien siempre tomando previamente en consideración la situacion de ... -
Reflexiones sobre los determinantes del empleo en la economía española
(Escuela Universitaria de Estudios Empresariales, 1996)Se pretende investigar las causas de la alta tasa de desempleo española. Siguiendo por un lado un modelo de demanda de trabajo, y teniendo en cuenta acontecimientos históricos internacionales y nacionales.Por otro lado, ... -
Una reflexión acerca del problema del desempleo en la C.A.P.V.
(Escuela Universitaria de Estudios Empresariales, 1997)La Comunidad Autónoma Vasca presenta una realidad socio-económica compleja sobre la que inciden multitud de variables políticas,económicas y culturales que han mediatizado nuestro desarrollo en los últimos años. Partiendo ...