Now showing items 1-20 of 32

    • Business cycle and monetary policy analysis in a structural sticky price model of the euro area 

      Casares Polo, Miguel Upna Orcid (2001)   Documento de trabajo / Lan gaiak  OpenAccess
      Structural models are a powerful tool for business cycle and monetary policy analysis because they are assumed to be invariant to either policy changes or external shocks. In this paper, we derive a neoclassical monetary ...
    • Business cycle and monetary policy analysis with market rigidities and financial frictions 

      Casares Polo, Miguel Upna Orcid; Deidda, Luca; Galdón Sánchez, José Enrique Upna Orcid (2013)   Documento de trabajo / Lan gaiak  OpenAccess
      We describe a dynamic macroeconomic model that incorporates firm-level borrowing constraints, competitive CES loan production, and rigidities on both setting prices and wages. The external finance premium (interest-rate ...
    • Business dynamism and economic growth: U.S. regional evidence 

      Casares Polo, Miguel Upna Orcid; Khan, Hashmat (2016)   Documento de trabajo / Lan gaiak  OpenAccess
      We document empirical evidence on the determinants of U.S. regional growth over the last 25 years, with a special attention to the role of entrepreneurial activity or `business dynamism'. The main data source is the Business ...
    • COVID-19 pandemic and economic scenarios for Ontario 

      Casares Polo, Miguel Upna Orcid; Gomme, Paul; Khan, Hashmat (2020)   Documento de trabajo / Lan gaiak  OpenAccess
      To study the efficacy of the public policy response to the COVID-19 pandemic, we develop a model of the rich interactions between epidemiology and socioeconomic choices. Preferences feature a 'fear of death' that lead ...
    • Data revisions in the estimation of DSGE models 

      Casares Polo, Miguel Upna Orcid; 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 ...
    • Did US business dynamism recover in the 2010s? 

      Aguilera Bravo, Asier Upna; Casares Polo, Miguel Upna Orcid; Khan, Hashmat (2021)   Documento de trabajo / Lan gaiak  OpenAccess
      We provide evidence that both firm and establishment entry rates in the US have been increasing over the past decade, seemingly ending the secular decline observed over previous decades. However, the job-size of new ...
    • Dynamic analysis in an optimizing monetary model with transaction costs and endogenous investment 

      Casares Polo, Miguel Upna Orcid (2001)   Documento de trabajo / Lan gaiak  OpenAccess
      This paper analyzes the period-to-period changes that occur in an optimizing monetary model with uncertainty and sticky prices. Money is incorporate in its role as a medium of exchange through a time-cost transactions ...
    • A dynamic model of COVID-19: contagion and implications of isolation enforcement 

      Casares Polo, Miguel Upna Orcid; Khan, Hashmat (2020)   Documento de trabajo / Lan gaiak  OpenAccess
      We present a dynamic model that produces day-to-day changes in key variables due to the COVID-19 contagion: the number of ever infected people, currently infected, deaths, healed, and infected people who require hospitalization. ...
    • Entry and exit in recent US business cycles 

      Casares Polo, Miguel Upna Orcid (2015)   Documento de trabajo / Lan gaiak  OpenAccess
      I show evidence indicating that the variability of the total number of business units (establishments) has significantly increased in recent US business cycles, accounting for nearly 2/3 of real GDP fluctuations during the ...
    • Essays in macroeconomics 

      Aguilera Bravo, Asier Upna (2019)   Tesis doctoral / Doktoretza tesia  OpenAccess
      Esta tesis consta de tres capítulos, cada uno de los cuales analiza temas relevantes en el campo de la Macroeconomía. La investigación realizada en los tres capítulos se basa en la metodología de los modelos dinámicos de ...
    • An estimated new-Keynesian model with unemployment as excess supply of labor 

      Casares Polo, Miguel Upna Orcid; 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 extensive margin and US aggregate fluctuations: a quantitative assessment 

      Casares Polo, Miguel Upna Orcid; Khan, Hashmat; Poutineau, Jean-Christophe (Elsevier, 2020)   Artículo / Artikulua
      We report empirical evidence indicating that US net business formation has recently turned more volatile, procyclical and persistent. To study these stylized facts, we estimate a DSGE model with endogenous entry and exit. ...
    • Firm entry under financial frictions 

      Casares Polo, Miguel Upna Orcid; Poutineau, Jean-Christophe (2011)   Documento de trabajo / Lan gaiak  OpenAccess
      Introducing both endogenous firm entry and a requirement for external finance in a general-equilibrium model leads to three main results. First, the financial constraint has contractionary effects on both equity investment ...
    • The great moderation of inflation: a structural analysis of recent U.S. monetary business cycles 

      Casares Polo, Miguel Upna Orcid; 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 ...
    • International capital flows 

      Villar Olano, Alba del (2019)   Tesis doctoral / Doktoretza tesia  OpenAccess
      This thesis uses modern macroeconomic modeling techniques and panel data econometrics to quantitatively measure the determinants of financial globalization and its e↵ects on advanced and developing economies. The first ...
    • Loan production and monetary policy 

      Casares Polo, Miguel Upna Orcid; Deidda, Luca; Galdón Sánchez, José Enrique Upna Orcid (Cambridge University Press, 2019)   Artículo / Artikulua  OpenAccess
      The authors examine optimal monetary policy in a New Keynesian model with unemployment and financial frictions where banks produce loans using equity as collateral. Firms and households demand loans to finance externally ...
    • Long run analysis in alternative optimizing monetary models 

      Casares Polo, Miguel Upna Orcid (2001)   Documento de trabajo / Lan gaiak  OpenAccess
      This paper explores the transmission channel from monetary variables to real variables in the steady-rate equilibria of various neoclassical optimizing models with money. The existence of superneutrality is rejected for ...
    • Monopolistic competition, sticky prices, and the minimal mark-up in steady state 

      Casares Polo, Miguel Upna Orcid (2007)   Documento de trabajo / Lan gaiak  OpenAccess
      This note reports the rate of inflation that minimizes the mark-up of prices over marginal costs in the steady-state solution of a monopolistic competition model with either Taylor (1980) or Calvo (1983) pricing. The minimal ...
    • A new Keynesian analysis of industrial employment fluctuations 

      Casares Polo, Miguel Upna Orcid (2009)   Documento de trabajo / Lan gaiak  OpenAccess
      This paper describes a model with sticky prices, search frictions and hours-clearing wages that provides firm differentiation across several dimensions: price, output, wage, employment and hours per worker. The connection ...
    • On firm-level, industry-level, and aggregate employment fluctuations 

      Casares Polo, Miguel Upna Orcid (2013)   Documento de trabajo / Lan gaiak  OpenAccess
      Employment fluctuations are examined, at different levels of aggregation, in a dynamic model that provides firm-specific hiring decisions due to search frictions and sticky pricing. The results indicate that firm-level ...