Margarita Rubio

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This paper studies the role of endogenous producer entry and product creation for monetary policy analysis and business cycle dynamics in a general equilibrium model with imperfect price adjustment. Optimal monetary policy stabilizes producer prices, but lets the consumer price index vary to accommodate changes in the number of available products. The free(More)
Available online xxxx JEL classification: E32 E44 E58 Keywords: Macroprudential Monetary policy Welfare Financial stability Loan-to-value Kaldor–Hicks efficiency a b s t r a c t In this paper, we analyze the implications of macroprudential and monetary policies for business cycles, welfare, and financial stability. We consider a dynamic stochastic general(More)
Tamoxifen is a pro-drug widely used in breast cancer patients to prevent tumor recurrence. Prior work has revealed a role of cytochrome and sulfotransferase enzymes in tamoxifen metabolism. In this descriptive study, correlations were examined between concentrations of tamoxifen metabolites and genotypes for CYP2D6, CYP3A4, CYP3A5, SULT1A1, SULT1A2 and(More)
Crosscountry variation in production costs encourages the relocation of production facilities to other countries, a process known as o¤shoring through vertical foreign direct investment. I examine the e¤ect of o¤shoring on the international transmission of business cycles. Unlike the existing macroeconomic literature, I distinguish between ‡uctuations in(More)
The recent …nancial crisis has raised the discussion among policy makers and researchers on the need of macroprudential policies to avoid systemic risks in …nancial markets. However, these new measures need to be combined with the traditional ones, namely monetary policy. The aim of this paper is to study how the interaction of macroprudential and monetary(More)
Past studies have argued that housing is an important driver of business cycles. Housing markets, however, are highly localized, while business cycles are often measured at the national level. We model a national housing cycle using a panel of cities while also allowing for idiosyn-cratic departures from the national cycle. These departures occur for(More)