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Markov or not Markov - this should be a question

Bickenbach, Frank; Bode, Eckhardt - 2001

Although it is well known that Markov process theory, frequently applied in the literature on income convergence, imposes some very restrictive assumptions upon the data generating process, these assumptions have generally been taken for granted so far. The present paper proposes, resp. recalls...

Persistent link: https://www.econbiz.de/10010265521

The euro's trade effect under cross-sectional heterogeneity and stochastic resistance

Herwartz, Helmut; Weber, Henning - 2010

This paper investigates if the euro's effect on euro-area trade differs across trade sectors and across country pairs …, and to what degree heterogeneity matters for estimating the aggregate euro effect. Time-varying latent variables, which …, aggregate exports within the euro area increase between 2000 and 2002 by 15 to 25 percent compared with aggregate exports …

Persistent link: https://www.econbiz.de/10010270031

Konjunkturschwankungen in den asiatischen NICs und in ausgewählten Industrieländern: Synchronisation oder Divergenz?

Fels, Joachim - 1988

Die stärkste Dynamik in der Weltwirtschaft entfaltet derzeit die asiatisch-pazifische Region. Besonders kräftig wachsen dort die vier Schwellenländer Südkorea, Taiwan, Hongkong und Singapur, die im folgenden als asiatische NICs (für Newly Industrializing Countries) bezeichnet werden. Sie...

Persistent link: https://www.econbiz.de/10010275522

Estimating the shape of economic crises under heterogeneity

Dovern, Jonas; Jannsen, Nils - 2009

During the ongoing financial crisis the analysis of similar historical crises has gained more and more attention among economic researchers and forecasters. Existing studies, however, do not tackle the immense heterogeneity that is present in cross-country samples in a formal and consistent way....

Persistent link: https://www.econbiz.de/10010265233

Surviving the crisis: Foreign multinationals vs domestic firms

Godart, Olivier; Görg, Holger; Hanley, Aoife - 2011

Starting from the observation that all firms in Ireland (foreign and domestic in manufacturing and services industries) were hit by the crisis, the paper asks whether there is a difference in the behaviour of foreign and domestic firms. One hypothesis is that foreign multinationals are less...

Persistent link: https://www.econbiz.de/10010285497

Euro area: Single currency - national money creation

Kooths, Stefan; van Roye, Björn - 2012

maintaining financial stability in the euro area by providing vast liquidity support to commercial banks that are operating in … centrifugal forces become that ultimately might break up the single currency. Instead of a fiscal union, a euro …

Persistent link: https://www.econbiz.de/10010288223

Globalization, pass-through and inflation dynamic

Benigno, Pierpaolo; Faia, Ester - 2010

An important aspect of the globalization process is the increase in interdependence among countries through the deepening of trade linkages. This process should increase competition in each destination market and change the pricing behavior of firms. We present an extension of Dornbusch (1987)'s...

Persistent link: https://www.econbiz.de/10010326562

What can a New Keynesian labor matching model match?

Reicher, Christopher Phillip - 2009

A labor matching model with nominal rigidities can match short-run movements in labor's share with some success. However, it cannot explain much of the behavior of employment, vacancies, and job flows in postwar US data without resorting to additional shocks beyond monetary policy and...

Persistent link: https://www.econbiz.de/10010265220

New evidence, old puzzles: technology shocks and labor market dynamics

Balleer, Almut - 2009

Can the standard search-and-matching labor market model replicate the business cycle fluctuations of the job finding rate and the unemployment rate? In the model, fluctuations are prominently driven by productivity shocks which are commonly interpreted as technology shocks. I estimate different...

Persistent link: https://www.econbiz.de/10010265223

Explaining shifts in the unemployment rate with productivity slowdowns and accelerations: a co-breaking approach

Schreiber, Sven - 2009

We investigate the controversial issue whether unemployment is related to productivity growth in the long run, using U.S. data in a framework of infrequent mean shifts. Tests find (endogenously dated) shifts around 1974, 1986, and 1996, system techniques indicate that the shifts are common...

Persistent link: https://www.econbiz.de/10010265226