Showing 1 - 10 of 108
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
This study investigates the influence of background diversity of bank board members on performance and risk. Using data … associated with performance except when it relates to ethnicity. It not only reduces performance per se but also increases risk …. Female presence and professional diversity reduce risk but nationality and ethnicity diversities are associated with higher …
Persistent link: https://www.econbiz.de/10010933906
non-zero risk levels. Some contemporary European societies tolerate about one fatality per thousand year around industrial … theory and the technology roadmap suggest that CO2 storage demonstration projects over the next 20 years have to cause …
Persistent link: https://www.econbiz.de/10009402095
Using a recent household survey conducted in Senegal, I examine the impact of negative and positive income shocks on departures from and entries in the household. I focus on differences in responses to shocks across the urban and rural sectors as well as age and gender groups. Striking...
Persistent link: https://www.econbiz.de/10009643222
-agricultural sector is considered as a risk-mitigating strategy by rural Pakistani households. This issue has already been addressed but … whether ex ante engagement in the non-agricultural sector is partly motivated by a desire to mitigate risk. The main feature …
Persistent link: https://www.econbiz.de/10010750552
We define a coherent risk measures as set-valued maps satisfying some axioms. We show that this definition is a … convenient extension of the real-valued risk measures introduced by Artzner, Delbaen, Eber and Heath (1998). We then discuss the … aggregation issue, i.e. the passage from valued random portofolio to valued measure of Risk. Necessary and sufficient conditions …
Persistent link: https://www.econbiz.de/10010750881