There is a large literature in macroeconomics studying the effects of financial turbulence on
the real economy (Bernanke and Gertler, 1989; Kiyotaki and Moore, 1997; Wasmer and …

An increasing share of corporate loans, a critical source of firm credit, are sold off banks'
balance sheets and actively traded in a secondary over-the-counter market. We develop a …

The relative importance of used capital goods to new investment has been increasing
significantly over time. To this end, we develop a dynamic general equilibrium model with …

What is the relationship between the level of financial development and the dynamics of
housing prices? This paper documents a housing Kuznets curve in the data: countries with …

This paper proposes a dynamic model to capture the interaction among the environment,
human capital accumulation, and economic growth. We emphasize the mechanism that …

How much does job effort contribute to labor market fluctuations? In a dynamic general
equilibrium model with DMP-type labor market search-matching frictions and firm-level …

The aim of the paper is to prove a hypothesis concerning the dependence of the political
polarisation of the European Union on recent developments in labour market structure. The …

We explain the dynamics of unemployment, job vacancies and job separations in the wake
of the US financial crisis of 2008-2009 as the interaction between credit and labor market …

This dissertation studies two aspects of firm factor demand decisions. The first chapter
explores the excess labor reallocation at the firm level. The second chapter constructs a new …