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Business cycle and monetary policy analysis with market rigidities and financial frictions
(2013)
Documento de trabajo / Lan gaiak,
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 ...
The process of wage adjustment: an analysis using establishment-level data
(2013)
Documento de trabajo / Lan gaiak,
In this article, we use data from Spanish manufacturing plants to analyze the determinants of the importance attributed to several criteria when wages are adjusted. More specifically, the criteria we take into account in ...