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Bargaining with a Bank
(2018-01-01)
This paper examines bargaining as a mechanism to resolve information problems. To guide the analysis, I develop a parsimonious model of a credit negotiation between a bank and firms with varying levels of impatience. In ...
Monetary Policy and the Cost of Wage Rigidity: Evidence from the Stock Market
(2018-01-01)
Using a unique confidential contract level dataset merged with firm-level asset price data, we find robust evidence that firms' stock market valuations and employment levels respond more to monetary policy announcements ...