Narrow search
Showing 1 - 10 of 88
Cover Image
The Nature of Countercyclical Income Risk
Guvenen, Fatih - 2015
This paper studies the nature of business cycle variation in individual earnings risk using a dataset from the U.S. Social Security Administration, which contains (uncapped) earnings histories for millions of anonymous individuals. The base sample is a nationally representative panel containing...
Persistent link: https://www.econbiz.de/10013035613
Cover Image
The Responses of Wages and Prices to Technology Shocks
Edge, Rochelle M.; Laubach, Thomas; Williams, John C. - 2004
This paper reexamines wage and price dynamics in response to permanent shocks to productivity. We estimate a micro … technology and monetary policy shocks. We utilize a flexible specification for wage- and price-setting that allows for the … wage and price inflation. On the price front, we find that in our VAR inflation jumps in response to an identified …
Persistent link: https://www.econbiz.de/10014072266
Cover Image
Dynamic Beveridge Curve Accounting
Ahn, Hie Joo - 2020
We develop a dynamic decomposition of the empirical Beveridge curve, i.e., the level of vacancies conditional on unemployment. Using a standard model, we show that three factors can shift the Beveridge curve: reduced-form matching efficiency, changes in the job separation rate, and...
Persistent link: https://www.econbiz.de/10012834050
Cover Image
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
Cover Image
Firms' Relative Sensitivity to Aggregate Shocks and the Dynamics of Gross Job Flows
Pinto, Eugenio - 2009
We propose a measure for the importance of aggregate shocks for fluctuations in job flows at the firm level. Using data for the Portuguese economy, we find that large and old firms exhibit higher relative sensitivity to aggregate shocks and have a disproportional influence over the dynamics of...
Persistent link: https://www.econbiz.de/10012764198
Cover Image
Firm Entry and Macroeconomic Dynamics : A State-Level Analysis
Gourio, Francois - 2016
Using an annual panel of US states over the period 1982-2014, we estimate the response of macroeconomic variables to a shock to the number of new firms (startups). We find that these shocks have significant effects that persist for many years on real GDP, productivity, and population. This...
Persistent link: https://www.econbiz.de/10013210401
Cover Image
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
Cover Image
Structural Shocks and the Comovements between Output and Interest Rates
Mertens, Elmar - 2011
Stylized facts on U.S. output and interest rates have so far proved hard to match with DSGE models. But model predictions hinge on the joint specification of economic structure and a set of driving processes. In a model, different shocks often induce different comovements, such that the overall...
Persistent link: https://www.econbiz.de/10013128641
Cover Image
Stock Prices, News, and Economic Fluctuations : Comment
Kurmann, André - 2013
Beaudry and Portier (American Economoc Review, 2006) propose an identification scheme to study the effects of news shocks about future productivity in Vector Error Correction Models (VECM). This comment shows that their methodology does not have a unique solution, when applied to their VECMs...
Persistent link: https://www.econbiz.de/10013083901
Cover Image
Shocks, Frictions, and Inequality in US Business Cycles
Bayer, Christian - 2020
How much does inequality matter for the business cycle and vice versa? Using a Bayesian likelihood approach, we estimate a heterogeneous-agent New-Keynesian (HANK) model with incomplete markets and portfolio choice between liquid and illiquid assets. The model enlarges the set of shocks and...
Persistent link: https://www.econbiz.de/10012841741