BackDFAEII;;DFAEII: Recent submissions
Now showing items 29-32 of 149
-
An Estimated New-Keynesian Model with Unemployment as Excess Supply of Labor
Casares, Miguel; Moreno, Antonio; Vázquez Pérez, Jesús
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2012)
Wage stickiness is incorporated to a New-Keynesian model with variable capital to drive endogenous unemployment uctuations de ned as the log di¤erence between aggregate labor supply and aggregate labor demand. We estimated ... -
The Effect of Data Revisions on the Basic New Keynesian Model
Vázquez Pérez, Jesús; María-Dolores, Ramón; Londoño Yarce, Juan Miguel (University of the Basque Country, Department of Foundations of Economic Analysis II, 2012)
This paper proposes an extended version of the basic New Keynesian monetary (NKM) model which contemplates revision processes of output and inflation data in order to assess the importance of data revisions on the estimated ... -
Data Revisions in the Estimation of DSGE Models
Casares, Miguel; Vázquez Pérez, Jesús (University of the Basque Country, Department of Foundations of Economic Analysis II, 2012)
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 ... -
Resale in Auctions with Financial Constraints
De Frutos, María Ángeles; Espinosa Alejos, María Paz (University of the Basque Country, Department of Foundations of Economic Analysis II, 2012)
This paper analyzes auctions where bidders face nancial constraints that may force them to resell part of the property of the good (or subcontract part of a project) at a resale market. First we show that the ine¢ cient ...