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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

Wage Rigidity and Job Creation

Haefke, Christian; Sonntag, Marcus; Rens, Thijs van - Institut für Weltwirtschaft (IfW) - 2009

replicate these findings in a search model, it must be that wages are rigid in ongoing jobs but flexible at the start of new …

Persistent link: https://www.econbiz.de/10005700599

Leading indicators for Euroland's business cycle

Döpke, Jörg - Institut für Weltwirtschaft (IfW) - 1998

The paper investigates a set of possible leading indicators for Euroland's business cycle using aggregated quarterly data. The theoretical plausibility, the behavior at business cycle turning points and the mean leads are analyzed. Furthermore, evidence from cross-correlations and...

Persistent link: https://www.econbiz.de/10009276194

Business Cycle Volatility in Germany

Buch, Claudia M.; Doepke, Joerg; Pierdzioch, Christian - Institut für Weltwirtschaft (IfW) - 2002

Stylized facts suggest that output volatility in OECD countries has declined in recent years. However, the causes and the nature of this decline have so far been analyzed mainly for the United States. In this paper, we analyze whether structural breaks in the dynamics and the volatility of the...

Persistent link: https://www.econbiz.de/10005755211

Assessing the Effects of the Terrorist Attacks on the U.S. Economy

Strauß, Hubert - Institut für Weltwirtschaft (IfW) - 2001

The terrorist attacks of September 11 have challenged the view that the U.S. economy is on the brink of recovery. This article discusses the effects of the attacks on real GDP taking the Kiel InstituteÂ’s forecast of September 10 as the baseline scenario. The focus is on assessing the direct...

Persistent link: https://www.econbiz.de/10005818792

National and International Business Cycle Effects of Housing Crises

Jannsen, Nils - Institut für Weltwirtschaft (IfW) - 2009

Housing crises usually go hand in hand with a long lasting recession and a considerable loss in output. We first re-examine the effects of a housing crises on the business cycle based on historical crises. Then we estimate the international spill-over-effects if several huge industrial countries...

Persistent link: https://www.econbiz.de/10005818914

Extensive vs. Intensive Margin in Germany and the United States: Any Differences?

Merkl, Christian; Wesselbaum, Dennis - Institut für Weltwirtschaft (IfW) - 2009

This papers analyzes the role of the extensive vis-à-vis the intensive margin of labor adjustment in Germany and the United States. The contribution is twofold. First, we provide an update of older U.S. studies and confirm the view that the extensive margin (i.e., the adjustment in the number...

Persistent link: https://www.econbiz.de/10008531660

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