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Technology (and Policy) Shocks in Models of Endogenous Growth

Jones, Larry E. - 1999

Is there a trade-off between fluctuations and growth? The empirical evidence is mixed, with some studies (Kormendi and Meguire (1985)) finding a positive relationship, while others (Ramey and Ramey (1995)) finding the a negative one. Our objective in this paper is to understand how fundamental...

Persistent link: https://www.econbiz.de/10012471733

Preemptive Policies and Risk-Off Shocks in Emerging Markets

Das, Mitali; Gopinath, Gita; Kalemli-Ozcan, Sebnem - National Bureau of Economic Research - 2021

the shock compared to countries which did not have such pre-emptive policies in place. We use the episodes of Taper … fixed effects where preemptive policies are ex-ante by construction and cannot be put in place as a response to the shock ex …

Persistent link: https://www.econbiz.de/10012794642

Permanent and Transitory Components in Macroeconomic Fluctuations

Campbell, John Y. - 1987

Fluctuations in real GNP have traditionally been viewed as transitory deviations from a deterministic time trend. The purpose of this paper is to review some of the recent developments that have led to a new view of output fluctuations and then to provide some additional evidence. Using post-war...

Persistent link: https://www.econbiz.de/10012476900

Are Cyclical Fluctuations in Productivity Due More to Supply Shocks or Demand Shocks?

Shapiro, Matthew D. - 1987

Measured productivity is strongly procyclical. Real business cycle theories suggest that actual fluctuations in productivity are the source of fluctuations in aggregate output. Keynesian theories maintain that fluctuations in aggregate output come from shocks to aggregate demand. Keynesian...

Persistent link: https://www.econbiz.de/10012476922

Unemployment with Observable Aggregate Shocks

Grossman, Sanford J. - 1982

Consider an economy subject to two kinds of shocks: (a) an observable shock to the relative demand for final goods … output is determined by (1) the technological shock that determines which final goods industry uses his output intensively … among final goods, then it doesn't matter which final goods industry uses the worker's output. Thus the technological shock …

Persistent link: https://www.econbiz.de/10012478130

Output Fluctuations and Gradual Price Adjustment

Gordon, Robert J. - 1981

This paper reviews the leading ideas that have emerged within two paradigms of price adjustment. Neither, it appears, provides a satisfactory theoretical scheme when taken in isolation. This paper concludes that an attempt to merge the more convincing elements of each is needed, and some...

Persistent link: https://www.econbiz.de/10012478502

Labor Supply and Aggregate Fluctuations

Hall, Robert E. - 1979

Issues of labor supply are at the heart of macroeconomic explanations of the large cyclical fluctuations of output observed in modern economies. This paper starts with a serious empirical examination of the view that the labor market is always in balance-that every observed combination of...

Persistent link: https://www.econbiz.de/10012478763

Risk Premium Shocks Can Create Inefficient Recessions

Tella, Sebastian Di - 2020

We develop an equilibrium theory of business cycles driven by spikes in risk premiums that depress business demand for capital and labor. Aggregate shocks increase firms' uninsurable idiosyncratic risk and raise risk premiums. We show that risk shocks can create quantitatively realistic...

Persistent link: https://www.econbiz.de/10012479245

Uncertainty Shocks and Business Cycle Research

Fernández-Villaverde, Jesús - 2020

We review the literature on uncertainty shocks and business cycle research. First, we motivate the study of uncertainty shocks by documenting the presence of time-variation in the volatility of macroeconomic time series. Second, we enumerate the mechanisms that researchers have postulated to...

Persistent link: https://www.econbiz.de/10012479292

The Monetary and Fiscal History of Brazil, 1960-2016

Ayres, Joao - 2019

first oil shock (1973), but accelerated again afterward, reaching levels above 100 percent on average between 1980 and 1994 …

Persistent link: https://www.econbiz.de/10012479377

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