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Asymmetric Information and Employment Fluctuations

Bruegemann, Bjoern; Moscarini, Giuseppe - Society for Economic Dynamics - SED - 2006

Shimer (2005) showed that a standard search and matching model of the labor market fails to generate fluctuations of … unemployment and vacancies of the magnitude observed in US data in response to shocks to average labor productivity of plausible … response of unemployment and vacancies to a shock to average labor productivity. In light of these properties, cast in terms of …

Persistent link: https://www.econbiz.de/10005069277

New Trade Theory Takes Over Monetary Theory

Gani, M - EconWPA - 2004

Prevailing trade theory is a neglected stepchild of economics. Micro rejects the sole reason for trade’s occurrence. It declares zero profit in equilibrium. Monetary theory and macroeconomics dismiss concerns of trade financing. They assert that money has nothing to do with traded output, but...

Persistent link: https://www.econbiz.de/10005408069

Leading Indicators of Euroland Business Cycles

Fritsche, Ulrich; Marklein, Felix - EconWPA - 2001

The introduction of a common monetary policy in eleven European countries increased the need for leading indicators for that area. A reliable leading indicator should possess the following properties: (1) The movements in the indicator series should resemble those in the business cycle reference...

Persistent link: https://www.econbiz.de/10005076700

No More Rocking Horses: Trading Business-Cycle Depth for Duration Using an Economy-Specific Characteristic.

Mikhail, Ossama - EconWPA - 2004

Regarding the trade-off between the depth and the duration of recessions, there exists a mounting empirical evidence of the idiosyncratic and non-synchronized behavior of the business cycle over time within and across countries. In this paper, I propose a stochastic dynamic general equilibrium...

Persistent link: https://www.econbiz.de/10005076708

Do Small and Medium-Sized Enterprises Stabilize Employment? Theoretical Considerations and Evidence from Germany

Fendel, Ralf; Frenkel, Michael - EconWPA - 1996

The hypothesis that the behavior of firms in adjusting the number of their employees along a business cycle depends on the size of the firms has often been mentioned in the literature. Several authors argue that small and medium sized enterprises are more hesitant in hiring additional employees...

Persistent link: https://www.econbiz.de/10005135008

Welfare Costs, Long Run Consumption Risk, and a Production Economy.

Croce, Mariano M. - Society for Economic Dynamics - SED - 2006

The main goal of this paper is to measure the welfare costs of business cycles in a production economy in which the representative agent has low risk aversion and - at the same time - the equity premium and the co-movements of aggregate quantities and market returns are comparable to what...

Persistent link: https://www.econbiz.de/10005069327

Business Cycles under Generalized Disappointment Aversion

Campanale, Claudio; Castro, Rui; Clementi, Gian Luca - Society for Economic Dynamics - SED - 2006

Standard business cycle models with state-additive preferences, while broadly consistent with the behavior of real macroeconomic aggregates, are unable to generate asymmetries between expansions and recessions, and are also inconsistent with the behavior of asset prices. In this paper we exploit...

Persistent link: https://www.econbiz.de/10005069351

Monetary Policy, Taxes, and the Business Cycle

Pakko, Michael R.; Gavin, William T.; Kydland, Finn E. - Society for Economic Dynamics - SED - 2005

Persistent link: https://www.econbiz.de/10005051394

The Granular Origins of Aggregate Fluctuations

Gabaix, Xavier - Society for Economic Dynamics - SED - 2005

Persistent link: https://www.econbiz.de/10005051395

Leading Indicators of German Business Cycles: An Assessment of Properties

Fritsche, Ulrich; Stephan, Sabine - EconWPA - 2000

A reliable leading indicator should possess the following properties: (1) The movements in the indicator series should resemble those in the business cycle reference series. (2) The relation between the reference series and the indicator should be statistically significant and stable over time....

Persistent link: https://www.econbiz.de/10005561215