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Rational Bubbles in Non-Linear Business Cycle Models : Closed and Open Economies

Kollmann, Robert - 2020

solution. Bubbles reflect self-fulfilling fluctuations in agents' expectations about future investment. In contrast to … non-linear models) that feature recurrent boombust cycles characterized by persistent investment and output expansions …

Persistent link: https://www.econbiz.de/10012842395

Is Inequality Increasing in r-g? Piketty's Principle of Capitalist Economics and the Dynamics of Inequality in Britain, 1210-2013

Madsen, Jakob Brøchner - 2017

In his 2014 book, Thomas Piketty argues that wealth inequality is sharply increasing in r-g and refers to rg as ‘the central contradiction of capitalist economics', where r is asset returns and g is real income growth. To assess whether inequality is increasing in the (r-g)-gap this paper: 1)...

Persistent link: https://www.econbiz.de/10012944904

Sentiment and uncertainty about regulation

Sinclair, Tara M.; Xie, Zhoudan - 2021

Regulatory policy can create economic and social benefits, but poorly designed or excessive regulation may generate substantial adverse effects on the economy. In this paper, we present measures of sentiment and uncertainty about regulation in the U.S. over time and examine their relationships...

Persistent link: https://www.econbiz.de/10013220182

The Post-Crisis Slump in the Euro Area and the US : Evidence from an Estimated Three-Region DSGE Model

Kollmann, Robert - 2016

productivity growth, and persistent adverse shocks to capital investment, linked to the continuing poor health of the EA financial …

Persistent link: https://www.econbiz.de/10012998137

What Drives the German Current Account? And How Does It Affect Other EU Member States?

Kollmann, Robert - 2014

investment would raise German GDP and reduce the current account surplus, but the effects on the surplus are likely to be weak …

Persistent link: https://www.econbiz.de/10013054630

Liquidity Traps in a Monetary Union

Kollmann, Robert - 2020

-driven liquidity traps in a two-country New Keynesian model of a monetary union. In the model here, country-specific productivity …

Persistent link: https://www.econbiz.de/10012825685

Asymmetries in risk premia, macroeconomic uncertainty and business cycles

Görtz, Christoph; Yeromonahos, Mallory - 2021

which agents cannot perfectly observe the state of current productivity, can generate the observed asymmetry in the risk …

Persistent link: https://www.econbiz.de/10013310474

World Steel Production : A New Monthly Indicator of Global Real Economic Activity

Ravazzolo, Francesco - 2017

In this paper we propose a new indicator of monthly global real economic activity, named world steel production. We use world steel production, OECD industrial production index and Kilian's rea index to forecast world real GDP, and key commodity prices. We find that world steel production...

Persistent link: https://www.econbiz.de/10012953420

A New Monthly Indicator of Global Real Economic Activity

Ravazzolo, Francesco - 2015

In modelling macroeconomic time series, often a monthly indicator of global real economic activity is used. We propose a new indicator, named World steel production, and compare it to other existing indicators, precisely the Kilian's index of global real economic activity and the index of OECD...

Persistent link: https://www.econbiz.de/10013023926

Real Exchange Rates and Sectoral Productivity in the Eurozone

Berka, Martin - 2014

We investigate the link between real exchange rates and sectoral total factor productivity measures for countries in … the Eurozone. Real exchange rate patterns closely accord with an amended Balassa-Samuelson interpretation, both in cross … from simulated regressions are very similar to the empirical estimates for the Eurozone. Our findings contrast with …

Persistent link: https://www.econbiz.de/10013045367