Now showing items 1-5 of 5

    • Data revisions in the estimation of DSGE models 

      Casares Polo, Miguel Upna; Vázquez, Jesús (2011)   Documento de trabajo / Lan gaiak  OpenAccess
      Revisions of US macroeconomic data are not white-noise. They are persistent, correlated with real-time data, and with high variability (around 80% of volatility observed in US real-time data). Their business cycle effects ...
    • An estimated new-Keynesian model with unemployment as excess supply of labor 

      Casares Polo, Miguel Upna; Moreno, Antonio Upna; Vázquez, Jesús (2010)   Documento de trabajo / Lan gaiak  OpenAccess
      As one alternative to search frictions, wage stickiness is introduced in a New-Keynesian model to generate endogenous unemployment fluctuations due to mismatches between labor supply and labor demand. The effects on an ...
    • The great moderation of inflation: a structural analysis of recent U.S. monetary business cycles 

      Casares Polo, Miguel Upna; Vázquez, Jesús (2012)   Documento de trabajo / Lan gaiak  OpenAccess
      U.S. inflation has experienced a great moderation in the last two decades. This paper examines the factors behind this and other stylized facts, such as the weaker correlation of inflation and nominal interest rate (Gibson ...
    • Wage stickiness and unemployment fluctuations: an alternative approach 

      Casares Polo, Miguel Upna; Moreno, Antonio Upna; Vázquez, Jesús (2009)   Documento de trabajo / Lan gaiak  OpenAccess
      Erceg, Henderson and Levin (2000, Journal of Monetary Economics) introduce sticky wages in a New-Keynesian general-equilibrium model. Alternatively, it is shown here how wage stickiness may bring unemployment fluctuations ...
    • Why are labor markets in Spain and Germany so different? 

      Casares Polo, Miguel Upna; Vázquez, Jesús (2016)   Documento de trabajo / Lan gaiak  OpenAccess
      The volatility of unemployment fluctuations has been about 3 times higher in Spain than in Germany over the recent business cycles (1996-2013). In contrast, fluctuations of the rate of wage inflation were significantly ...