Stefano Gnocchi - Latest

• Housework and Fiscal Expansions

  Staff Working Paper 2014-34 Stefano Gnocchi, Daniela Hauser, Evi Pappa

  We build an otherwise-standard business cycle model with housework, calibrated consistently with data on time use, in order to discipline consumption-hours complementarity and relate its strength to the size of fiscal multipliers.

  Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles, Fiscal policy JEL Code(s): E, E2, E24, E3, E32, E5, E52, E6, E62

• Labor Market Participation, Unemployment and Monetary Policy

  Staff Working Paper 2014-9 Alessia Campolmi, Stefano Gnocchi

  We incorporate a participation decision in a standard New Keynesian model with matching frictions and show that treating the labor force as constant leads to incorrect evaluation of alternative policies.

  Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles, Labour markets, Monetary policy transmission JEL Code(s): E, E2, E24, E3, E32, E5, E52