This article shows that the inability to use monetary policy for macroeconomic stabilization leaves a government more vulnerable to a rollover crisis. We study a sovereign default model with self-fulfilling rollover crises, foreign currency debt, and nomin ...
Transition from fossils to renewables is leading to radical societal changes. Shifting the capital from fossils to renewables is commonly accompanied with political concerns, such as energy autonomy, domestic employment etc. Despite a decreasing trend in r ...
Classical theory asserts that the formation of prices is the result of aggregated decisions of
economics agent such as households or corporation. However central banks are very important
agents that have often been neglected in asset pricing models. Centra ...
With nominal wage rigidities, it is crucial to distinguish whether wages are set by workers or firms — whether we have monopoly or monopsony power. This paper provides a model of monopsony power in the labour market and a monopsonistic Phillips Curve. If w ...
The policy response to the recent financial crisis has broadly focused on two themes: 1) Increasing the banking sectorsâ resilience to future financial shocks: 2) Improving credit availability to households and firms via lowering both short and long-term ...
This thesis investigates methodologies for improving the demand responsiveness of transportation systems through flexibility. The methodologies propose advances both in demand and supply models having a focus on supply-demand interactions. The demand side ...
Using a vector-autoregression (VAR) model and data from the University of Michigan Survey of Consumers, we provide evidence on the importance of news and consumers' beliefs for housing-market dynamics and aggregate fluctuations. We document that innovation ...
Supramolecular assemblies with controlled morphology are of paramount importance for energy transport in organic semiconductors. Despite considerable freedom in molecular design, the preparation of dyes that form one dimensional J-aggregates is challenging ...
With an ever growing population, global energy demand is predicted to keep increasing. Furthermore, the integration of renewable energy sources into the electricity grid (to reduce carbon emission and humanity's dependency on fossil fuels), complicates eff ...
Demand response (DR) has been known to play an important role in the electricity sector to balance supply and demand. To this end, the DR baseline is a key factor in a successful DR program since it influences the incentive allocation mechanism and custome ...
