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Higher-order income risk over the business cycle
Busch, Christopher; Ludwig, Alexander - 2020
We extend the canonical income process with persistent and transitory risk to shock distributions with left-skewness and excess kurtosis, to which we refer as higher-order risk. We estimate our extended income process by GMM for household data from the United States. We find countercyclical...
Persistent link: https://www.econbiz.de/10012215285
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Minimum wages and insurance within the firm
Adamopoulou, E rosyni; Manaresi, Francesco; Rachedi, Omar; … - 2024
employer-employee data on Italian metalmanufacturing rms, which face di erent wage oors that vary within occupations. In … response to negative rm productivity shocks, workers close to the wage oors experience higher job separations but no wage loss …. However, the wage of high-paid workers decreases, and more so in rms with higher incidence of minimum wages. A neoclassical …
Persistent link: https://www.econbiz.de/10014518663
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Macroeconomic Shocks and Racial Labour Market Differences in the U.S
De, Kuhelika - 2020
Using 136 United States macroeconomic indicators from 1973 to 2017, and a factor augmented vector autoregression (FAVAR) framework with sign restrictions, we investigate the effects of three structural macroeconomic shocks - monetary, demand, and supply - on the labour market outcomes of black...
Persistent link: https://www.econbiz.de/10012844419
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Money, sticky wages, and the great depression
Bordo, Michael D.; Erceg, Christopher J.; Evans, Charles - 1997
Persistent link: https://www.econbiz.de/10000630959
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Nominal wage stickiness and aggregate supply in the great depression
Bernanke, Ben; Carey, Kevin M. - 1996
Persistent link: https://www.econbiz.de/10000563981
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The aggregate implications of regional business cycles
Beraja, Martin; Hurst, Erik; Ospina, Juan - 2016
Persistent link: https://www.econbiz.de/10011436348
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The making of a great contraction with a liquidity trap and a jobless recovery
Schmitt-Grohé, Stephanie; Uribe, Martín - 2012
Persistent link: https://www.econbiz.de/10009679649
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Distributional Effects of Macroeconomic Shocks in Real-Time : A Novel Method Applied to the COVID-19 Crisis in Germany
Bruckmeier, Kerstin; Peichl, Andreas; Popp, Martin; … - 2021
The highly dynamic nature of the COVID-19 crisis poses an unprecedented challenge to policy makers around the world to take appropriate income-stabilizing countermeasures. To properly design such policy measures, it is important to quantify their effects in real-time. However, data on the...
Persistent link: https://www.econbiz.de/10013250264
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Agricultural productivity shocks and poverty in India : the short- and long-term effects of monsoon rainfall
Brey, Björn; Hertweck, Matthias S. - 2019
This paper examines the dynamic effects of monsoon rainfall shocks on yield, wages, and prices in the Indian agricultural sector. We distinguish between positive and negative rainfall shocks and explicitly consider their spatial dimension (local/regional). We find that particularly negative...
Persistent link: https://www.econbiz.de/10012014073
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Financial frictions and global spillovers
Metiu, Norbert; Hilberg, Björn; Grill, Michael - 2015
We investigate whether frictions in US financial markets amplify the international propagation of US financial shocks. The dynamics of the US economy is modeled jointly with global macroeconomic and financial variables using a threshold vector autoregression that allows us to capture...
Persistent link: https://www.econbiz.de/10010493885