Narrow search
Showing 1 - 10 of 191
Cover Image
Productivity shocks and real business cycles
Evans, Charles L. - Federal Reserve Bank of Chicago - 1991
Persistent link: https://www.econbiz.de/10005410904
Cover Image
Why is productivity procyclical? Why do we care?
Basu, Susanto; Fernald, John - Federal Reserve Bank of Chicago - 2000
Productivity rises in booms and falls in recessions. There are four main explanations for this procyclical productivity … procyclical productivity as an essential feature of business cycles because each explanation has important implications for … utilization and resource reallocations are particularly important in explaining procyclical productivity. We also argue that the …
Persistent link: https://www.econbiz.de/10005726266
Cover Image
Sovereigns versus Banks: Credit, Crises, and Consequences
Jordà, Òscar; Schularick, Moritz; Taylor, Alan M. - CESifo - 2013
Two separate narratives have emerged in the wake of the Global Financial Crisis. One interpretation speaks of private financial excess and the key role of the banking system in leveraging and deleveraging the economy. The other emphasizes the public sector balance sheet over the private and...
Persistent link: https://www.econbiz.de/10010877944
Cover Image
The Great Mortgaging: Housing Finance, Crises, and Business Cycles
Jordà, Òscar; Schularick, Moritz; Taylor, Alan M. - CESifo - 2014
This paper unveils a new resource for macroeconomic research: a long-run dataset covering disaggregated bank credit for 17 advanced economies since 1870. The new data show that the share of mortgages on banks’ balance sheets doubled in the course of the 20th century, driven by a sharp rise of...
Persistent link: https://www.econbiz.de/10010948836
Cover Image
Estimating Fluctuations in Oil and Gas Investment
Dahl, Roy Endré; Osmundsen, Petter - CESifo - 2014
Governments in extraction countries are anxious to estimate expected investment in development projects, since they represent an essential element of the macro economy. The overall level of activity is also crucial to oil companies, since the macro picture affects cost levels, the supplies...
Persistent link: https://www.econbiz.de/10010948869
Cover Image
The Impact of the Global Financial Crisis on Business Cycles in Asian Emerging Economies
Fidrmuc, Jarko; Korhonen, Iikka - CESifo - 2009
We analyze the transmission of global financial crisis to business cycles in China and India. The pattern of business cycles in emerging Asian economies generally displays a low degree of synchronization with the OECD countries, which is consistent with the decoupling hypothesis. By contrast,...
Persistent link: https://www.econbiz.de/10005013072
Cover Image
Booms, Recessions and Financial Turmoil: A Fresh Look at Investment Decisions under Cyclical Uncertainty
Chen, Yu-Fu; Funke, Michael - CESifo - 2009
The paper studies the interaction between cyclical uncertainty and investment in a stochastic real option framework where demand shifts stochastically between three different states, each with different rates of drift and volatility. In our setting the shifts are governed by a three-state Markov...
Persistent link: https://www.econbiz.de/10005013955
Cover Image
Import protection, business cycles, and exchange rates: evidence from the Great Recession
Bown, Chad; Crowley, Meredith - Federal Reserve Bank of Chicago - 2011
This paper uses highly detailed, quarterly data for five major industrialized economies to estimate the impact of macroeconomic fluctuations on import protection policies over 1988:Q1–2010:Q4. First, estimates on a pre-Great Recession sample of data provide evidence of two key relationships....
Persistent link: https://www.econbiz.de/10009390673
Cover Image
The implication of financial cycles for subordinated debt proposals
Randall, Richard E. - Federal Reserve Bank of Chicago - 1994
Persistent link: https://www.econbiz.de/10010723764
Cover Image
Evidence of bank information monopolies across the business cycle
Santos, Joao A. C.; Winton, Andrew - Federal Reserve Bank of Chicago - 2005
Persistent link: https://www.econbiz.de/10010723796