Lectures at Doug Laxtonís Workshop on Hot Topics in Macro Modeling, Washington, D.C., April 26 and 27, 2013
The Labor Market and Banking in DSGE Models
Alternative approaches to unemployment in DSGE models (background manuscript).
a. Wage setting frictions in the New Keynesian model: the role they play, with implications for employment and unemployment. See this Dynare mod file for the code corresponding to the model developed here. For further discussions of the implications of sticky wages for unemployment, see this and this.
Banking in DSGE models: models of unconventional monetary policy and leverage.