Showing 1 - 10 of 71
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
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
This paper provides empirical evidence on the complex role played by technology in affecting the relationship between … period 2000-2014. The empirical analysis is based on country/industry level data for 21 EU countries on employment, trade in … technology is analysed by taking into account both the technological intensity of offshoring industries and that of their GVC …
Persistent link: https://www.econbiz.de/10012692280
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 examine the comovements between the output indexes of three German sectors (manufacturing, mining, and agriculture …
Persistent link: https://www.econbiz.de/10011398919
data across countries, we provide industry-by-industry estimates of the labour demand function. The values of our estimated …
Persistent link: https://www.econbiz.de/10010370168
Two main approaches have been implemented in regional CO2 markets to address competitiveness and carbon leakage: output based allocation (Australia, California, New Zealand) and capacity based allocation (EU). This paper characterizes the best policy, given that auctioning with border adjustment...
Persistent link: https://www.econbiz.de/10009687241
understand sectoral reduction potentials to efficiently promote industry decarbonization using the instruments at their disposal … frameworks to study investment pathways consistent with a net zero industry transformation. We find that a mix of measures … industry with EUR 78.4bn until 2050 - followed by iron & steel (EUR55.4bn) and cement (EUR37.6bn). The achievable emission …
Persistent link: https://www.econbiz.de/10014295121
We provide evidence on the fit of the hybrid New Keynesian Phillips curve for selected euro zone countries, the US and the UK. Instead of imposing rational expectations and estimating the Phillips curve by the Generalized Method of Moments, we follow Roberts (1997) and Adam and Padula (2003) and...
Persistent link: https://www.econbiz.de/10003301367
The paper discusses key elements of optimal central bank design and applies its findings to the Eurosystem. A particular focus is on the size of monetary policy committees, the degree of centralization, and the representation of relative economic size in the voting rights of regional (or...
Persistent link: https://www.econbiz.de/10003301388