Essays in Labor Macroeconomics and Monetary Economics

Download or read book Essays in Labor Macroeconomics and Monetary Economics written by Daniele Caratelli and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation explores three questions in macroeconomics: two pertaining to labor macroeconomics and one concerning monetary economics. In the first chapter, I study the role wealth plays in workers' labor market outcomes and, in turn, how it impacts their earnings prospects over the business cycle. In the second chapter (joint with Basil Halperin) we investigate the optimal monetary policy in an sectoral economy with menu costs and find that the central bank should target constant nominal wages and not constant prices, as is typically prescribed. In the third and final chapter (joint with Aniket Baksy) we show that increased educational attainment played an important role in the decline in worker mobility in the US over the past three decades. This contrast with the existing literature, which attributes the decline to lower economic dynamism.