Publications associées à Nominal rigidity

Monetary Independence And Rollover Crises

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 ...

OXFORD UNIV PRESS INC2022

Robust design using multiobjective optimisation and artificial neural networks with application to a heat pump radial compressor

Jürg Alexander Schiffmann, Soheyl Massoudi, Cyril Picard

Although robustness is an important consideration to guarantee the performance of designs under deviation, systems are often engineered by evaluating their performance exclusively at nominal conditions. Robustness is sometimes evaluated a posteriori throug ...

2022

Monopsony with nominal rigidities: An inverted Phillips Curve

Charles Cosme Henri Dennery

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 ...

2020

Does Austerity Go Along With Internal Devaluations?

Luisa Lambertini, Christian Pröbsting

Cuts to government spending rather than increases in consumption taxes are statistically associated with internal devaluations in the euro area during the period 2010-2014. Countries that cut spending experienced a decline in nominal wages, rising net expo ...

2019

Does Austerity Go Along with Internal Devaluations?

Luisa Lambertini

Cuts to government spending rather than increases in consumption taxes are statistically associated with internal devaluations in the euro area during the period 2010-2014. Countries that cut spending experienced a decline in nominal wages, rising net expo ...

2019

Dampened expectations in the Phillips Curve: A note

Charles Cosme Henri Dennery

Dampened inflation expectations have a significant impact on the New Keynesian Phillips Curve. This dampening not only flattens the long run Phillips Curve, but it can also lead to a bias in the estimation of its short run slope. It also affects the respon ...

2019

Necessity entrepreneurship and industry choice in new firm creation

Marc Gruber, Argyro Nikiforou

Research Summary Research on necessity entrepreneurship has generated important insights, yet it views necessity entrepreneurs in developed countries as one encompassing group of unemployed individuals-ignoring that the level of need is not uniform but ins ...

2019

Three Essays in Banking and Finance

Damien Olivier Klossner

This thesis develops three models that study the motivation of various agents to take on debt, and the impact that excessive financial leverage can have on social welfare. In the chapter "Short-term Bank Leverage and the Value of Liquid Reserves", the ince ...

EPFL2019

Mortgage Default in an Estimated Model of the U.S. Housing Market

Luisa Lambertini, Victoria Nuguer, Pinar Uysal

This paper models the housing sector, mortgages and endogenous default in a DSGE setting with nominal and real rigidities. We use data for the period 1981-2006 to estimate our model using Bayesian techniques. We analyze how an increase in risk in the mortg ...

2017

Statistics of Test Results for the ITER Nb3Sn and NbTi Conductors in the SULTAN Facility

Pierluigi Bruzzone, Boris Stepanov, Kamil Sedlák, Rainer Wesche

The series production of Nb3Sn and NbTi cable-inconduit conductors (CICC) for the winding of various coils in the International Thermonuclear Experimental Reactor (ITER) magnet system is being completed in 2015. The tests of the ITER conductor samples are ...

IEEE Institute of Electrical and Electronics Engineers2016