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detrended data for personal consumption expenditures and manufacturing output suggest that the U.S. economy has recovered to … near 90% of pre-pandemic levels as of March 2021, our structural VAR model shows that the component of manufacturing output …
Persistent link: https://www.econbiz.de/10012550202
information on aggregate productivity growth. Yet, a large body of research shows that within-industry variation in productivity … across businesses, even within narrowly defined industries. These differences vary by industry and time and are related to … statistics providing this level of detail, BLS and the Census Bureau partnered to create measures of within-industry productivity …
Persistent link: https://www.econbiz.de/10012550217
unique data set at the industry level, we mostly find correlations that are consistent with counter-cyclical influences of …, including the innovative part of manufacturing, are only influenced by changes in the cyclical component of unemployment, while …
Persistent link: https://www.econbiz.de/10011853760
When similar patterns of expansion and contraction are observed across sectors, we call this a business cycle. Yet explaining the similarity and synchronization of these cycles across industries remains a puzzle. Whereas output growth across industries is highly correlated, identifiable shocks,...
Persistent link: https://www.econbiz.de/10003474099
With fixed costs of price and quantity adjustment, output effects of inflation depend on the elasticity of the firm's marginal real revenue. If the elasticity always exceeds minus unity, then output decreases with inflation, while if the elasticity is always less than minus unity, then output...
Persistent link: https://www.econbiz.de/10003121028
Using firm-level survey data for the West German manufacturing sector, this paper revisits the technology …-driven business cycle hypothesis for the case of aggregate investment. We construct a survey-based measure of technology shocks to … gauge their contribution to short-run investment fluctuations. We estimate an upper bound for the contribution of technology …
Persistent link: https://www.econbiz.de/10009736762
We study differences in the adjustment of aggregate real wages in the manufacturing sector over the business cycle …
Persistent link: https://www.econbiz.de/10003784405
This paper establishes stylized facts about the cyclicality of real consumer wages and real producer wages in Germany. As detrending methods we apply the deterministic trend model, the Beveridge-Nelson decomposition, the Hodrick-Prescott filter, the Baxter-King filter and the structural time...
Persistent link: https://www.econbiz.de/10009009395
We examine the comovements between the output indexes of three German sectors (manufacturing, mining, and agriculture …
Persistent link: https://www.econbiz.de/10011398919
largest firms are important for an understanding of aggregate volatility in German manufacturing industries. The implications …
Persistent link: https://www.econbiz.de/10009519874