Narrow search
Showing 1 - 10 of 10,193
Cover Image
The UK's Great Demand and Supply Recession
Jacob, Nicholas; Mion, Giordano - 2021
We revisit UK’s poor productivity performance since the Great Recession by means of both a suitable theoretical framework and firm-level prices and quantities data for detailed products allowing us to both measure demand, and its changes over time, and distinguish between quantity total factor...
Persistent link: https://www.econbiz.de/10013314807
Cover Image
The Cyclical Behavior of the Price-Cost Markup
Nekarda, Christopher J. - 2013
and data. Second, because the NK model's predictions differ by the nature of the shock, we present evidence on the … procyclical conditional on a technology shock. However, we find that they are either procyclical or acyclical conditional on …
Persistent link: https://www.econbiz.de/10012459562
Cover Image
Noisy Business Cycles
Angeletos, George-Marios - 2009
This paper investigates a real-business-cycle economy that features dispersed information about the underlying aggregate productivity shocks, taste shocks, and, potentially, shocks to monopoly power. We show how the dispersion of information can (i) contribute to significant inertia in the...
Persistent link: https://www.econbiz.de/10012463667
Cover Image
Bargaining Shocks and Aggregate Fluctuations
Drautzburg, Thorsten; Fernández-Villaverde, Jesús; … - 2021
We argue that social and political risk causes significant aggregate fluctuations by changing workers’ bargaining power. Using a Bayesian proxy-VAR estimated with U.S. data, we show how distribution shocks trigger output and unemployment movements. To quantify the aggregate importance of these...
Persistent link: https://www.econbiz.de/10013235101
Cover Image
On the Sources of Aggregate Fluctuations in Emerging Economies
Chang, Roberto - 2010
encompasses them, taking advantage of recent developments in the theory and implementation of Bayesian methods. The encompassing …
Persistent link: https://www.econbiz.de/10012462714
Cover Image
Real Business Cycles in Emerging Countries?
García-Cicco, Javier - 2006
We use more than one century of Argentine and Mexican data to estimate the structural parameters of a small-open-economy real-business-cycle model driven by nonstationary productivity shocks. We find that the RBC model does a poor job at explaining business cycles in emerging countries. We then...
Persistent link: https://www.econbiz.de/10012466032
Cover Image
Assessing Structural VARs
Christiano, Lawrence J. - 2006
This paper analyzes the quality of VAR-based procedures for estimating the response of the economy to a shock. We focus … question that has attracted a great deal of attention in the literature: How do hours worked respond to an identified shock? In … all of our examples, as long as the variance in hours worked due to a given shock is above the remarkably low number of 1 …
Persistent link: https://www.econbiz.de/10012466312
Cover Image
Technology, Employment, and the Business Cycle : Do Technology Shocks Explain Aggregate Fluctuations
Gali, Jordi - 1996
positive technology shock, and (c) measured productivity increases temporarily in response to a positive demand shock. More …
Persistent link: https://www.econbiz.de/10012473117
Cover Image
Factor Hoarding and the Propagation of Business Cycles Shocks
Burnside, Craig - 1994
This paper analyzes the role of variable capital utilization rates in propagating shocks over the business cycle. To this end we formulate and estimate an equilibrium business cycle model in which cyclical capital utilization rates are viewed as a form of factor hoarding. We find that variable...
Persistent link: https://www.econbiz.de/10012474257
Cover Image
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