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A Gains from Trade Perspective on Macroeconomic Fluctuations
Beaudry, Paul; Portier, Franck - C.E.P.R. Discussion Papers - 2011
Business cycles reflect changes over time in the amount of trade between individuals. In this paper we show that incorporating explicitly intra-temporal gains from trade between individuals into a macroeconomic model can provide new insight into the potential mechanisms driving economic...
Persistent link: https://www.econbiz.de/10009221567
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A Banking Explanation of the US Velocity of Money: 1919-2004
Benk, Szilárd; Gillman, Max; Kejak, Michal - C.E.P.R. Discussion Papers - 2009
velocity volatility at both business cycle and long run frequencies. With filtered velocity turning negative, starting during …
Persistent link: https://www.econbiz.de/10008496458
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The Two Greatest. Great Recession vs. Great Moderation
Rivas, Gadea; Dolores, Maria; Gómez Loscos, Ana; … - C.E.P.R. Discussion Papers - 2014
to an end. This paper offers evidence that the decrease in output volatility still remains in force despite the GR and …
Persistent link: https://www.econbiz.de/10011083709
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The Fundamental Surplus in Matching Models
Ljungqvist, Lars; Sargent, Thomas J - C.E.P.R. Discussion Papers - 2015
To generate big responses of unemployment to productivity changes, researchers have reconfigured matching models in various ways: by elevating the utility of leisure, by making wages sticky, by assuming alternating-offer wage bargaining, by introducing costly acquisition of credit, or by...
Persistent link: https://www.econbiz.de/10011201357
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Investment and capital structure of partially private regulated firms
Cambini, Carlo; Spiegel, Yossi - C.E.P.R. Discussion Papers - 2011
We develop a model that examines the capital structure and investment decisions of regulated firms in a setting that …
Persistent link: https://www.econbiz.de/10009209829
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Spain's International Position, 1850-1913
Prados de la Escosura, Leandro - C.E.P.R. Discussion Papers - 2009
us to reject this view. In fact, a net capital inflow made possible to meet the demand for investment boosting economic …
Persistent link: https://www.econbiz.de/10008458296
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Investment Prices and Exchange Rates: Some Basic Facts
Burstein, Ariel Tomas; Neves, Joao C; Rebelo, Sérgio - C.E.P.R. Discussion Papers - 2004
This Paper documents four basic facts about investment goods and investment prices. First, investment has a very …, and transportation) are much less important for investment than for consumption. Third, the import content of investment …
Persistent link: https://www.econbiz.de/10005662174
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Labour Mobility and German Integration: Some Vignettes
Burda, Michael C; Wyplosz, Charles - C.E.P.R. Discussion Papers - 1991
Several alterantive scenarios for the economic integration of East and West Germany are analysed. They all share an amphasis of the rile of migration and labor mobility in this process. The effects of congestion costs, rigid wages, human capital and heterogeneity of migrants, and endogenous...
Persistent link: https://www.econbiz.de/10005662319
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Investment and Usage of New Technologies: Evidence from a Shared ATM Network
Degryse, Hans; Ferrari, Stijn; Verboven, Frank - C.E.P.R. Discussion Papers - 2007
When new technologies become available, it is not only essential that firms have the correct investment incentives, but … often also that consumers make the proper usage decisions. This paper studies investment and usage in a shared ATM network …. Because all banks coordinate their ATM investment decisions, there is no strategic but only a pure cost-saving incentive to …
Persistent link: https://www.econbiz.de/10005662325
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New Issues in Corporate Finance
Mayer, Colin - C.E.P.R. Discussion Papers - 1987
the provision of long-term finance. This approach suggests that the separation between the analysis of investment and that …
Persistent link: https://www.econbiz.de/10005666432