Similar Search Results

The paradox of monetary profits: an obstacle to understanding financial and economic Crisis?

Bruun, Charlotte; Heyn-Johnsen, Carsten - Institut für Weltwirtschaft (IfW) - 2009

stock magnitudes—more specifically the monetary valuation of real capital performed at financial markets. Besides solving …

Persistent link: https://www.econbiz.de/10008479049

Capital, Endogenous Separations, and the Business Cycle

Roye, Björn van; Wesselbaum, Dennis - Institut für Weltwirtschaft (IfW) - 2009

We implement capital in an endogenous separations New Keynesian matching model. In contrast to the vintage capital … theory, we suggest a more general approach, such that workers have unrestricted access to a proportional share of the capital … stock. We find that the introduction of capital generates an important channel for the transmission of aggregate …

Persistent link: https://www.econbiz.de/10008635829

An inconsistency in using stock flow consistency in modelling the monetary profit paradox

de la Fonteijne, Marcel - Institut für Weltwirtschaft (IfW) - 2014

In order to understand from where the profits or monetary profits of capitalists and firms emerge the author examined the phrase of Marx, 'Die Gesamtklasse der Kapitalisten kann nichts aus der Zirkulation herausziehen, was nicht vorher hineingeworfen war.' (The class of capitalists cannot...

Persistent link: https://www.econbiz.de/10010956050

Housing market bubbles and business cycles in an agent-based credit economy

Erlingsson, Einar Jon; Cincotti, Silvano; Stefansson, Hlynur - Institut für Weltwirtschaft (IfW) - 2013

In this paper the authors present an agent-based model of a credit network economy. The artificial economy includes different economic agents that interact using simple behavioral rules through various markets, i.e., the consumption goods market, the labor market, the credit market and the...

Persistent link: https://www.econbiz.de/10010956096

Sticky wages in search and matching models in the short and long run

Reicher, Christopher - Institut für Weltwirtschaft (IfW) - 2011

This paper documents the short run and long run behavior of the search and matching model with staggered Nash wage bargaining. It turns out that there is a strong tradeoff inherent in assuming that previously bargained sticky wages apply to new hires. If sticky wages apply to new hires, then the...

Persistent link: https://www.econbiz.de/10009216283

Matching labor’s share in a search and matching model

Reicher, Christopher - Institut für Weltwirtschaft (IfW) - 2011

I evaluate the degree to which different wage-setting mechanisms in labor market search models can fit the aggregate facts on labor’s share. I find that staggered bargaining in nominal wages best allows the model to plausibly match the negative relationship between labor’s share and lagged...

Persistent link: https://www.econbiz.de/10009292397

Evaluating the performance of the search and matching model with sticky wages

Reicher, Christopher - Institut für Weltwirtschaft (IfW) - 2010

Several authors have proposed staggered wage bargaining as a way to introduce sticky wages into search and matching models while preserving individual rationality. I evaluate the quantitative implications of such an approach. I feed through a series of estimated shocks from US data into a search...

Persistent link: https://www.econbiz.de/10009021626

Night Lights and Regional GDP

Bickenbach, Frank; Bode, Eckhardt; Lange, Mareike; … - Institut für Weltwirtschaft (IfW) - 2013

Night lights could be a valuable proxy of economic activity at the subnational level when GDP data are lacking or of poor quality. Supplementing Henderson et al.’s (2012) analysis at the national level, we assess the stability of the elasticity of GDP with regard to night lights across regions...

Persistent link: https://www.econbiz.de/10010886907

Good governance problems and recent financial crises in some EU countries

Gamberger, Dragan; Smuc, Tomislav - Institut für Weltwirtschaft (IfW) - 2013

This study examines 147 banking crises in the period of 1976-2011 documented by the International Monetary Fund. The countries affected by crises are analysed in respect of publicly available World Bank indicators in the periods of three years before the crises. Machine learning methodology for...

Persistent link: https://www.econbiz.de/10010956094

Confronting the Representative Consumer with Household-Size Heterogeneity

Koulovatianos, Christos; Schröder, Carsten; Schmidt, Ulrich - Institut für Weltwirtschaft (IfW) - 2010

Much analysis in macroeconomics empirically addresses economy-wide incentives behind consumer/investment choices by using insights from the way a single representative household would behave. Heterogeneity at the micro level can jeopardize attempts to back up the representative consumer...

Persistent link: https://www.econbiz.de/10008727755