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Separating the Business Cycle from Other Economic Fluctuations
Hall, Robert E. - 2005
of key variables-potential GDP, the natural rate of unemployment, and the equilibrium real interest rate, need to solve a … them. Further, low-frequency movements of unemployment suggest a failure of the basic idea that departures from the …-frequency movements of unemployment. I conclude that monetary policymakers should not try to discern neutral values of real variables …
Persistent link: https://www.econbiz.de/10012467025
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Household Debt and Business Cycles Worldwide
Mian, Atif R. - 2015
unemployment, and negative growth forecasting errors in a panel of 30 countries from 1960 to 2012. Consistent with the "credit …
Persistent link: https://www.econbiz.de/10012457088
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Asymmetric Crime Cycles
Mocan, H. Naci - 2005
unemployment rate, to decreases (increases) in per capita real GDP and to decreases (increases) in the police force. The same … result is obtained between unemployment and property crime in annual state-level panel data. These results suggest that it …
Persistent link: https://www.econbiz.de/10012467475
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Has Creative Destruction Become More Destructive?
Komlos, John - 2014
Schumpeter's concept of creative destruction as the engine of capitalist development is well-known. However, that the destructive part of creative destruction is a social cost and therefore biases our estimate of the impact of the innovation on NNP and on welfare is hardly acknowledged, with the...
Persistent link: https://www.econbiz.de/10012458287
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Trade and the Global Recession
Eaton, Jonathan - 2011
We develop a dynamic multi-country general equilibrium model to investigate forces acting on the global economy during the Great Recession and ensuing recovery. Our multi-sector framework accounts completely for countries' trade, investment, production, and GDPs in terms of different sets of...
Persistent link: https://www.econbiz.de/10012461991
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Home Production and the Macro Economy-Some Lessons from Pollak and Wachter and from Transition Russia
Gronau, Reuben - 2006
Recent years witnessed a flourishing of literature on the implication of shifts from home- production to market production on the macro economy, and in particular, the real business cycle. This literature employs calibration techniques to emulate the fluctuations in market output, labor and...
Persistent link: https://www.econbiz.de/10012466381
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Stochastic Technical Progress, Nearly Smooth Trends and Distinct Business Cycles
Rotemberg, Julio J. - 2002
This paper investigates whether it is possible to entertain simultaneously two attractive views about US GDP. The first is that long term growth in US GDP is attributable to an empirically plausible specification of random technical progress. The second is that deviations of GDP from a fitted...
Persistent link: https://www.econbiz.de/10012469795
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The Sources of Fluctuations in Aggregate Inventories and GNP
West, Kenneth D. - 1989
A simple real linear-quadratic inventory model is used to determine how cost and demand shocks interacted to cause fluctuations in aggregate GNP and inventories in the U.S., 1947-1986. Cost shocks appear to be the predominant source of fluctuations in inventories, and are largely responsible for...
Persistent link: https://www.econbiz.de/10012476056
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Estimating real production and expenditures across nations : a proposal for improving the Penn world tables
Feenstra, Robert C. (contributor) - 2004
"In this paper we propose a new approach to international comparisons of real GDP measured from the output-side. The traditional Geary-Khamis system to measure real GDP from the expenditure-side is modified to include differences in the terms of trade between countries. It is shown that this...
Persistent link: https://www.econbiz.de/10010522867
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Reexamining the Empirical Evidence for an Environmental Kuznets Curve
Harbaugh, William - 2000
This paper uses an updated and revised panel data set on ambient air pollution in cities world-wide to examine the robustness of the evidence for the existence of an inverted U-shaped relationship between national income and pollution. We test the sensitivity of the pollution-income relationship...
Persistent link: https://www.econbiz.de/10012471050