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Abbate, Angela; Eickmeier, Sandra; Prieto, Esteban - 2016

We assess the effects of financial shocks on inflation, and to what extent financial shocks can account for the "missing disinflation" during the Great Recession. We apply a vector autoregressive model to US data and identify financial shocks through sign restrictions. Our main finding is that...

Persistent link: https://www.econbiz.de/10011546785

The global financial cycle and macroeconomic tail risks

Beutel, Johannes; Emter, Lorenz; Metiu, Norbert; … - 2022

We study the link between the global financial cycle and macroeconomic tail risks using quantile vector autoregressions. Contractionary shocks to financial conditions and monetary policy in the United States cause elevated downside risks to growth around the world. By tightening financial...

Persistent link: https://www.econbiz.de/10013459721

Time variation in macro-financial linkages

Prieto, Esteban; Eickmeier, Sandra; Marcellino, Massimiliano - 2013

We analyze the contribution of credit spread, house and stock price shocks to GDP growth in the US based on a Bayesian VAR with time-varying parameters estimated over 1958-2012. Our main findings are: (i) The contribution of financial shocks to GDP growth fluctuates from about 20 percent in...

Persistent link: https://www.econbiz.de/10009739598

Productivity effects of organizational change: microeconometric evidence

Bertschek, Irene - 2001

the input factors and workplace reorganization. The estimation results show that changes in human resources practices do … observable firm heterogeneity are larger if workplace reorganization is realized. We therefore apply Kernel density estimation … realized. We therefore apply Kernel density estimation technique to demonstrate that the entire labor productivity distribution …

Persistent link: https://www.econbiz.de/10013428430

Quantification of qualitative data using ordered probit models with an application to a business survey in the German service sector

Kaiser, Ulrich; Spitz-Oener, Alexandra - 2000

This paper aims at providing business survey analysts with simple econometric tools to quantify qualitative survey data. We extend the traditional and commonly applied method proposed by Carlson and Parkin (1975) to capture observable survey respondent heterogeneity. We also discuss...

Persistent link: https://www.econbiz.de/10001531547

The macroeconomic effects of inflation uncertainty

Metiu, Norbert; Prieto, Esteban - 2023

The uncertainty of U.S. core inflation, measured by the stochastic volatility of forecast errors, has soared to a level not seen in nearly five decades since the COVID-19 pandemic hit the global economy. Prices, consumption, and production increase after a positive shock to core inflation...

Persistent link: https://www.econbiz.de/10014436184

A note on the calculation of firm-specific and skill-specific labor costs from firm-level data

Kaiser, Ulrich - 2000

Persistent link: https://www.econbiz.de/10013428309

Research cooperation and research expenditures with endogenous absorptive capacity : theory and microeconometric evidence for the German service sector

Kaiser, Ulrich - 2000

This paper derives a three stage Cournot duopoly game for research collaboration, research expenditures and product market competition. The amount of knowledge firms can absorb from other firms is made dependent on their own research efforts, e.g., firms' absorptive capacity is treated as an...

Persistent link: https://www.econbiz.de/10013428320

Product innovation and product innovation marketing : theory and microeconometric evidence

Kaiser, Ulrich - 2001

This paper derives a three stage Cournotoligopoly game for product innovation, expenditure on introducing the product and competition on the product market. Product innovation is assumed to increase consumer utility but is effective only if the innovating firm invests in marketing, so that...

Persistent link: https://www.econbiz.de/10013428414

R&D cooperation and R&D intensity : theory and micro-econometric evidence for german manufacturing industries

Kaiser, Ulrich; Licht, Georg - 1998

This paper develops a three stage oligopoly game for R&D cooperation, R&D expenditure and product market competition. In the first stage, firms decide whether or not to conduct R&D in cooperation with other firms. In the second stage the level of R&D investment is determined. Finally, firms...

Persistent link: https://www.econbiz.de/10001604531