Essays on innovation, central bank digital currency and asset pricing by George, Ammu

“…Following a positive productivity shock, the AOB model shows a) labour market and asset pricing moments are closer to the data compared to other types of wage inertia models and the benchmark KS model b) the impulse response of dividends is larger – and closer to the data - under AOB compared to the other models since wages rise the least, as labour, vacancies and unemployment are more responsive following a positive productivity shock.…”
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