Showing 1 - 6 of 6
linking interest rates to forecasts of future inflation. Such rules have been found to give rise to aggregate fluctuations due … properties of interest-rate rules whereby the central bank responds to a measure of past inflation. The consensus view that has … inflation are likely to ensure global stability provided that the coefficient on lagged interest rates is greater than unity. …
Persistent link: https://www.econbiz.de/10001751344
The paper examines the processes underlying economic fluctuations by investigating the volatility moderation of U.S. economy in the early 1980's. We decompose the volatility decline using a dynamic factor framework into a common stochastic trend, common transitory component and idiosyncratic...
Persistent link: https://www.econbiz.de/10002102020
of federal litigation cases. In particular, the impact of aggregate U.S. GDP, consumption, inflation, unemployment, and … output, consumption and inflation to the total volume of federal litigation, so that predictions of future litigation volume … analysis, it is seen that shocks to income, consumption and inflation immediately lead to an increase in the volume of …
Persistent link: https://www.econbiz.de/10001848953
The U.S. economy had experienced the "jobless recovering" after the 1990-1991 and 2001 recessions, which has been constantly puzzling the economists, market analysts, and policymakers. This paper uses a simple hiring game in an efficiency wage model framework to resolve that puzzle. Our...
Persistent link: https://www.econbiz.de/10001934418
There is now considerable evidence that business cycle variation in output and employment in the U.S. diÞers in expansions and contractions. We present nonparametric evidence that asymmetries are strongest in durable goods manufacturing. In a Markov switching framework, we find two leading...
Persistent link: https://www.econbiz.de/10001934438
Persistent link: https://www.econbiz.de/10001673483