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Grazzini, Jakob - 2019

We investigate the sources of the great changes in GDP volatility observed from 1966 to 2000. We develop a general …-sectoral linkages and households' behavior to aggregate volatility. Our results show that changes in sectoral volatility played an … important role in shaping volatility at the aggregate level. Moreover, asymmetries in the economic structure sometimes had an …

Persistent link: https://www.econbiz.de/10012892302

Currency Concentration in Sovereign Debt, Exchange Rate Cyclicality, and Volatility in Consumption

Fujii, Eiji - 2022

smooth their domestic consumption; however, it can also amplify volatility in consumption, depending on the currency in which … external debt portfolios, exchange rate cyclicality, and volatility in consumption of low- and middle-income countries. Since …

Persistent link: https://www.econbiz.de/10014241998

Macroeconomic uncertainty and the impact of oil shocks

Van Robays, Ine - 2012

production volatility, significantly increases the responsiveness of oil prices to oil shocks. This implies a lower price … volatility. Also the impact of oil shocks on economic activity appears to be significantly stronger in uncertain times. …

Persistent link: https://www.econbiz.de/10010288244

Sectoral Okun's Law and Cross-Country Cyclical Differences

Goto, Eiji - 2020

We estimate Okun's law, the negative relationship between output and the unemployment rate, at the sector level for the US, the UK, Japan, and Switzerland to test several hypotheses that may explain why the aggregate Okun's coeffcients are different across countries. Specifically, we show that...

Persistent link: https://www.econbiz.de/10012841145

Economic Uncertainty and Fertility

Gozgor, Giray; Bilgin, Mehmet; Rangazas, Peter - 2021

In this paper, we conduct an empirical study of how uncertainty alters fertility behavior. The precautionary motive for saving predicts that an increase in income uncertainty increases saving by reducing both consumption and fertility. We examine this prediction using a new measure of economic...

Persistent link: https://www.econbiz.de/10013231969

Global Evidence on Misperceptions and Preferences for Redistribution

Feichtmayer, Jennifer Elena; Gründler, Klaus - 2021

Individuals often hold erroneous beliefs about their socio-economic status relative to others. We develop a new machine learning technique to measure these misperceptions and use large-scale international survey data to compute status misperception for 241,757 households from 97 countries (24...

Persistent link: https://www.econbiz.de/10013322781

Have Capital Market Anomalies Worldwide Attenuated in the Recent Era of High Liquidity and Trading Activity?

Auer, Benjamin R. - 2018

We revisit and extend the study by Chordia et al. (2014) which documents that, in recent years, increased liquidity has significantly decreased exploitable returns of capital market anomalies in the US. Using a novel international dataset of arbitrage portfolio returns for four well-known...

Persistent link: https://www.econbiz.de/10012908691

Debt Shifting and Transfer Pricing in a Volatile World

Comincioli, Nicola; Panteghini, Paolo; Vergalli, Sergio - 2021

In this article we introduce a stochastic model with a multinational company (MNC) that exploits tax avoidance practices. We focus on both transfer pricing (TP) and debt shifting (DS) activities and show how their optimal level is chosen by the shareholders. In addition, we perform an extensive...

Persistent link: https://www.econbiz.de/10013251265

Cyclical fiscal policy, output volatility, and economic growth

Badinger, Harald - 2008

, output volatility, and economic growth, using a large cross-section of 88 countries over the period 1960 to 2004 … results: First, both pro- and countercyclical fiscal policy amplify output volatility, much in a way like pure fiscal shocks … that are unrelated to the cycle. Second, output volatility, due to variations in cyclical and discretionary fiscal policy …

Persistent link: https://www.econbiz.de/10010264336

The Coronavirus and the Great Influenza Epidemic - Lessons from the 'Spanish Flu' for the Coronavirus's Potential Effects on Mortality and Economic Activity

Barro, Robert J. - 2020

Mortality and economic contraction during the 1918-1920 Great Influenza Epidemic provide plausible upper bounds for outcomes under the coronavirus (COVID-19). Data for 43 countries imply flu-related deaths in 1918-1920 of 39 million, 2.0 percent of world population, implying 150 million deaths...

Persistent link: https://www.econbiz.de/10012839262