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Macroeconomic Shocks and Racial Labour Market Differences in the U.S
De, Kuhelika - 2020
employment-population ratio among black Americans falls close to twice as much as that among white Americans, primarily due to an … increase in their unemployment rate and not a decline in labour force participation rate. Policymakers should take account of …
Persistent link: https://www.econbiz.de/10012844419
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Wage and Employment Cyclicalities at the Establishment Level
Merkl, Christian; Stueber, Heiko - 2021
wages. We estimate a negative connection between establishments’ wage cyclicality and their employment cyclicality, thereby …
Persistent link: https://www.econbiz.de/10013212779
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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
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The Propagation of Monetary Policy Shocks in a Heterogeneous Production Economy
Pasten, Ernesto - 2019
We study the transmission of monetary policy shocks in a model in which realistic heterogeneity in price rigidity interacts with heterogeneity in sectoral size and input-output linkages, and derive conditions under which these heterogeneities generate large real effects. Empirically,...
Persistent link: https://www.econbiz.de/10012892210
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Financial Frictions and the Wealth Distribution
Fernández-Villaverde, Jesús - 2020
We postulate a nonlinear DSGE model with a financial sector and heterogeneous households. In our model, the interaction between the supply of bonds by the financial sector and the precautionary demand for bonds by households produces significant endogenous aggregate risk. This risk induces an...
Persistent link: https://www.econbiz.de/10012825400
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Real and Nominal Effects of Monetary Shocks Under Time-Varying Disagreement
Esady, Vania - 2019
This paper investigates the heterogeneity of monetary policy transmission under time-varying disagreement regimes using a threshold VAR. Empirically, I establish that during times of high disagreement, prices respond more sluggishly in response to monetary shocks. These stickier prices cause a...
Persistent link: https://www.econbiz.de/10012858703
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Macroeconomic Responses to Uncertainty Shocks : The Perils of Recursive Orderings
Kilian, Lutz; Plante, Michael; Richter, Alexander W. - 2022
A common practice in empirical macroeconomics is to examine alternative recursive orderings of the variables in structural vector autogressive (VAR) models. When the implied impulse responses look similar, the estimates are considered trustworthy. When they do not, the estimates are used to...
Persistent link: https://www.econbiz.de/10014240870
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Labour Market Rigidities, Financial Integration and International Risk Sharing in the OECD
Fidrmuc, Jarko; Foster-McGregor, Neil; Scharler, Johann - 2021
Economic theory predicts that consumption growth rates should be highly correlated across countries. Empirical evidence … explain this apparent contradiction between theory and empirics. Using data for OECD countries we show that although financial …
Persistent link: https://www.econbiz.de/10013317001
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Naturalization and Labor Market Performance of Immigrants in Germany
Riphahn, Regina T. - 2018
market outcomes do not benefit significantly from naturalization. Naturalization reduces the risks of unemployment and …
Persistent link: https://www.econbiz.de/10012908608
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Women’s Labor Market Responses to Their Partners’ Unemployment and Low-Pay Employment
Keldenich, Carina - 2019
Socio-Economic Panel we show that women respond to their partners’ unemployment with an increase in labor market … participation, which also leads to an increase in their employment probability. Our analysis considers within- and between …-effects separately, revealing differences in the relationships between women’s labor market statuses and their partners’ unemployment in …
Persistent link: https://www.econbiz.de/10012892209