We estimate the link between exchange rate fluctuations and the labour input of Canadian manufacturing industries. The analysis is based on a dynamic model of labour dema[...]

There is widespread agreement that, in the United States, higher house prices raise consumption via collateral or possibly wealth effects. The presence of similar channel[...]

This paper considers a real business cycle model with labor search frictions where two types of incentive pay are explicitly introduced following the insights from the mi[...]

How does aggregate profit uncertainty influence investment activity at the firm level? We propose a parsimonious adaptation of a factor-autoregressive conditional heteros[...]

This paper examines the welfare cost of rare housing disasters characterized by large drops in house prices. I construct an overlapping generations general equilibrium mo[...]

We develop an asymmetric, two-country equilibrium business cycle model to study the role of international trade in transmitting the real effects of financial shocks acros[...]

We use internationally comparable household-level data for ten euro area economies and the United States to investigate cross-country differences in debt holdings and the[...]

Despite a vast empirical literature that assesses the impact of financial integration on the economy, evidence of substantial welfare gains from consumption risk sharing [...]

This paper discusses broad trends in labour force participation and part-time employment across different age groups since the Great Recession and uses provincial data to[...]

This paper examines how a household’s expectation of asset returns varies with wealth. In the model, households face idiosyncratic investment risks and confront Knightian[...]