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We provide a quantitative assessment of welfare costs of fluctuations in a search model with financial frictions. The matching process in the labor market leads positive shocks to reduce unemployment less than negative shocks increase it. We show that the magnitude of this non-linearity is...
Persistent link: https://www.econbiz.de/10011025686
In this paper, we aim at assessing Markov-switching and threshold models in their ability to identify turning points of economic cycles. By using vintage data that are updated on a monthly basis, we compare their ability to detect ex-post the occurrence of turning points of the classical...
Persistent link: https://www.econbiz.de/10010738487
We present a methodology to assess the profitability of a capital intensive industry over a business cycle and to make projections of profitability for different investment strategies under various hypothetical scenarios for environmental and competition policies. The methodology is applied to...
Persistent link: https://www.econbiz.de/10010821134
This article explores the role of trend shocks in explaining the specificities of business cycles in Sub-Saharan African (SSA) countries using the methodology introduced by Aguiar and Gopinath (2007) [Emerging Market Business Cycles: The Cycle Is the Trend Journal of Political Economy 115(1)]....
Persistent link: https://www.econbiz.de/10008793580
This article extends earlier efforts at redating the US business cycles for the 1790–1928 period using the real Gross Domestic Product (GDP) constructed by Johnson and Williamson (2007). We compare the alternative chronology with those of the NBER and Davis (2006) as well as Romer (1994) for...
Persistent link: https://www.econbiz.de/10008855839
The paper investigates the patterns of persistence of innovation and of the properties of firms' knowledge base (KB …
Persistent link: https://www.econbiz.de/10010933797
"Vertige" est le mot qui vient immédiatement à l'esprit quand nous contemplons le tourbillon des logos et marques territoriales qui s'étalent désormais sous nos yeux. " Inquiétude " c'est le sentiment que l'on peut ressentir à la vue des bricolages visuels et des simplifications qui...
Persistent link: https://www.econbiz.de/10010935040
The "hierarchical and linear model of innovation" (HLMI) is often used to describe how innovations are produced. HLMI … conceiving innovation systems as associations of building blocks and using contemporary engineering diagram-based languages to … display them. Nevertheless, this improvement does not challenge the dynamic features of innovation systems …
Persistent link: https://www.econbiz.de/10010929993
we remain largely unaware of it. If R&D seems to be an enabler of innovation, it is not sufficient by itself. Thus, the … use the linear model of innovation as the basis for policies to promote innovation? Is it not possible to go against the …
Persistent link: https://www.econbiz.de/10010930012
généralement liés à l'innovation sous ses diverses formes : innovation produit naturellement, mais aussi innovation process …, innovation organisationnelle ou innovation sociale. Le manager ou le chef de projet en charge d'une telle transformation complexe …
Persistent link: https://www.econbiz.de/10010930034