Money and exchange rates in the Grossman-Weiss-Rotemberg model

Article Abstract:

A study evaluates the Grossman-Weiss-Rotenberg model of estimating exchange rate behavior that is based on the impact of monetary injections. Evaluation is done by segmenting the asset and goods markets where there is staggered agents' visits of the asset market. Results reveal that the model can reproduce salient features of exchange rate behavior under certain parameters only and cannot be applied on situations where agents receive regular nominal income between visits to the asset market.

Econometrics & Model Building, Foreign Currency Management, Models, Evaluation, Prices and rates, Econometrics, Foreign exchange, Foreign exchange rates, Interest rates, Monetary policy, Market segmentation, Liquidity (Finance), Business models

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Severance payments in an economy with frictions

Article Abstract:

A general equilibrium model is developed to assess the impact of severance pay on welfare and employment. The firing penalty impact of such payments is a key issue.

Labor law, Layoffs

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Issues on the measurement of the Solow residual and the testing of exogenity: evidence for Canada

Article Abstract:

The effect of adjustments to the Slow residual are examined in relation to Canadian data. Productivity shocks are also examined in this context.

Canada, Business cycles

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