Listar por autor UPNA "Casares Polo, Miguel"
Mostrando ítems 21-36 de 36
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On financial frictions and firm market power
Casares Polo, Miguel
; Deidda, Luca; Galdón Sánchez, José Enrique (Banco de España, 2019)
Documento de trabajo / Lan gaiak 
Construimos un modelo de equilibrio general estático con empresas monopolísticamente competitivas que toman prestados fondos de bancos competitivos en una economía sujeta a restricciones financieras. Estas fricciones son ... -
On financial frictions and firm's market power
Casares Polo, Miguel ; Deidda, Luca; Galdón Sánchez, José Enrique (Wiley, 2023)
Artículo / Artikulua
There are two opposing welfare effects of market power in a model with monopolistic competition, loan defaults and moral hazard. The loss of output produced if firms set a higher mark-up over marginal costs confronts with ... -
On firm-level, industry-level, and aggregate employment fluctuations
Casares Polo, Miguel (2013)
Documento de trabajo / Lan gaiak
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 ... -
On staggered prices and optimal inflation
Aguilera Bravo, Asier; Casares Polo, Miguel (2019)
Documento de trabajo / Lan gaiak
This paper computes the steady-state optimal rate of inflation assuming two different sticky-price specifications, Calvo (1983) and Taylor (1980), in a model with monopolistic competition. The optimal rate of inflation ... -
On staggered prices and optimal inflation
Aguilera Bravo, Asier; Casares Polo, Miguel (Elsevier, 2019)
Artículo / Artikulua
This paper computes the steady-state optimal rate of inflation in a model with monopolistic competition under two different sticky-price specifications, Calvo (1983) and Taylor (1980).The optimal rate of inflation is ... -
A portfolio-choice model to analyze the recent gross capital flows between Canada and the US
Casares Polo, Miguel ; Villar Olano, Alba del (2019)
Documento de trabajo / Lan gaiak
We calibrate a two-country New Keynesian model with endogenous portfolio choice and valuation effects to discuss the determinants of the increase in Canadian Net Foreign Assets with the US observed after 2012. Furthermore, ... -
The post-covid inflation episode
Casares Polo, Miguel ; Aguirre Osa, Idoia (2023)
Documento de trabajo / Lan gaia
The recent inflation episode has been examined in an estimated NK-DSGE model with sticky wages and unemployement. The rise of US price inflation resulted from a combination of a sudden rise in 2020, the expansionary monetary ... -
Short run and long run effects of banking in a New Keynesian model
Casares Polo, Miguel ; Poutineau, Jean-Christophe (2010)
Documento de trabajo / Lan gaiak
This paper introduces both endogenous capital accumulation and deposit-in-advance requirements for investment in the banking model of Goodfriend and McCallum (2007). Impulse response functions from technology and monetary ... -
Sticky prices, sticky wages, and also unemployment
Casares Polo, Miguel (2008)
Documento de trabajo / Lan gaiak
This paper shows a New Keynesian model where wages are set at the value that matches household's labor supply with firm's labor demand. Subsequently, wage stickiness brings industry-level unemployment fluctuations. After ... -
A structural analysis of US entry and exit dynamics
Casares Polo, Miguel ; Khan, Hashmat; Poutineau, Jean-Christophe (2018)
Documento de trabajo / Lan gaiak
The authors report empirical evidence indicating that US business formation has recently turned more volatile, procyclical and persistent due to changes in exit dynamics. To study these stylized facts, we estimate a DSGE ... -
A structural analysis of US entry and exit dynamics. Technical appendix
Casares Polo, Miguel ; Khan, Hashmat; Poutineau, Jean-Christophe (2018)
Documento de trabajo / Lan gaiak
A. The optimizing programs of the model and other technical details (pages 1-7) B. Short-run and long-run equilibria in the DSGE model with endogenous entry and exit (pages 8-12) C. Average productivity (pages 13-15) D. ... -
The timing and intensity of social distancing to flatten the COVID-19 curve: the case of Spain
Casares Polo, Miguel ; Khan, Hashmat (MDPI, 2020)
Artículo / Artikulua
The continued spread of COVID-19 suggests a significant possibility of reimposing the lockdowns and stricter social distancing similar to the early phase of pandemic control. We present a dynamic model to quantify the ... -
Wage setting actors, sticky wages, and optimal monetary policy
Casares Polo, Miguel (2007)
Documento de trabajo / Lan gaiak
Following Erceg et al. (2000), sticky wages are generally modelled assuming that households set wage contracts à la Calvo (1983). This paper compares that sticky-wage model with one where wage contracts are set by firms, ... -
Wage stickiness and unemployment fluctuations: an alternative approach
Casares Polo, Miguel ; Moreno, Antonio ; Vázquez, Jesús (2009)
Documento de trabajo / Lan gaiak
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 ... -
Wage stickiness and unemployment fluctuations: an alternative approach
Casares Polo, Miguel ; Moreno, Antonio ; Vázquez, Jesús (Springer, 2012)
Artículo / Artikulua
Erceg et al. (J Monet Econ 46:281–313, 2000) introduce sticky wages in a New-Keynesian general-equilibrium model. Alternatively, it is shown here how wage stickiness may bring unemployment fluctuations into a New-Keynesian ... -
Why are labor markets in Spain and Germany so different?
Casares Polo, Miguel ; Vázquez, Jesús (2016)
Documento de trabajo / Lan gaiak
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 ...
