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Business Cycle Effects of Credit and Technology Shocks in a DSGE Model with Firm Defaults

Pesaran, Hashem; Xu, TengTeng - Institute for the Study of Labor (IZA) - 2011

This paper proposes a theoretical framework to analyze the impacts of credit and technology shocks on business cycle dynamics, where firms rely on banks and households for capital financing. Firms are identical ex ante but differ ex post due to different realizations of firm specific technology...

Persistent link: https://www.econbiz.de/10009325438

Volatility and Growth: Governments are Key

Jetter, Michael - Institute for the Study of Labor (IZA) - 2013

paper offers a solution to this disagreement, suggesting that volatility carries a positive direct effect, but also a … volatility is then ambiguous. The paper reveals the underlying endogeneity of government size in a balanced panel of 95 countries … increase of volatility lowers growth by up to 0.57 percentage points in a democracy, but raises growth by 1.74 percentage …

Persistent link: https://www.econbiz.de/10010959641

Unemployment Transitions to Stable and Unstable Jobs Before and During the Crisis

Nagore García, Amparo; van Soest, Arthur - Institute for the Study of Labor (IZA) - 2014

Using administrative records data from Spanish Social Security, we analyse the pattern and the determinants of individual unemployment benefit spell durations. We compare a period of expansion (2005-2007) and the recent recession (2009-2011), allowing us to determine the impact of the current...

Persistent link: https://www.econbiz.de/10010884159

Why is Old Workers' Labor Market More Volatile? Unemployment Fluctuations over the Life-Cycle

Hairault, Jean-Olivier; Langot, François; Sopraseuth, … - Institute for the Study of Labor (IZA) - 2014

Since the last recession, it is usually argued that older workers are less affected by the economic downturn because their unemployment rate rose less than the one of prime-age workers. This view is a myth: older workers are more sensitive to the business cycle. We document volatilities of...

Persistent link: https://www.econbiz.de/10010884226

Newborn Health and the Business Cycle: Is It Good to Be Born in Bad Times?

Aparicio Fenoll, Ainhoa; Gonzalez, Libertad - Institute for the Study of Labor (IZA) - 2014

We study the effect of the cycle on the health of newborn babies using 30 years of birth-certificate data for Spain. We find that babies are born healthier when the local unemployment rate is high. Although fertility is lower during recessions, the effect on health is not the result of...

Persistent link: https://www.econbiz.de/10010884258

Good Skills in Bad Times: Cyclical Skill Mismatch and the Long-Term Effects of Graduating in a Recession

Liu, Kai; Salvanes, Kjell G.; Sørensen, Erik Ø. - Institute for the Study of Labor (IZA) - 2012

We show that cyclical skill mismatch, defined as mismatch between the skills supplied by college graduates and skills demanded by hiring industries, is an important mechanism behind persistent career loss from graduating in recessions. Using Norwegian data, we find a strong countercyclical...

Persistent link: https://www.econbiz.de/10010884273

Business Cycles, Unemployment and Entrepreneurial Entry: Evidence from Germany

Fritsch, Michael; Kritikos, Alexander S.; Pijnenburg, … - Institute for the Study of Labor (IZA) - 2013

We investigate whether people are more willing to become self-employed during boom periods or during recessions and to what extent business cycles or unemployment levels influence entries into entrepreneurship. Our analysis for Germany reveals that there is a positive relationship between...

Persistent link: https://www.econbiz.de/10011271986

Benefit Reentitlement Conditions in Unemployment Insurance Schemes

Andersen, Torben M.; Kristoffersen, Mark Strom; Svarer, … - Institute for the Study of Labor (IZA) - 2015

Unemployment insurance schemes include conditions on past employment history as part of the eligibility conditions. This aspect is often neglected in the literature which primarily focuses on benefit levels and benefit duration. In a search-matching framework we show that benefit duration and...

Persistent link: https://www.econbiz.de/10011265288

Wage Rigidity and Job Creation

Haefke, Christian; Sonntag, Marcus; van Rens, Thijs - Institute for the Study of Labor (IZA) - 2008

Standard macroeconomic models underpredict the volatility of unemployment fluctuations. A common solution is to assume … jobs. This form of wage rigidity does not affect job creation and thus cannot explain the unemployment volatility puzzle. …

Persistent link: https://www.econbiz.de/10005233819

Health and Health Behaviors during the Worst of Times: Evidence from the Great Recession

Tekin, Erdal; McClellan, Chandler; Minyard, Karen Jean - Institute for the Study of Labor (IZA) - 2013

While previous studies have shown that recessions are associated with better health outcomes and behaviors, the focus of these studies has been on the relatively milder recessions of the late 20th century. In this paper, we examine if the previously established counter-cyclical pattern in health...

Persistent link: https://www.econbiz.de/10010814470

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