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Firm Response to Competitive Shocks : Evidence from China's Minimum Wage Policy

Hau, Harald - 2017

The large regional variation in minimum wage levels in the period 2002-08 in China implies that Chinese manufacturing firms experienced competitive shocks as a function of firm location and their low-wage employment share. We find that minimum wage hikes accelerate the input substitution from...

Persistent link: https://www.econbiz.de/10012947448

Investment Shocks, Tax Evasion and the Consumption Puzzle : A DSGE Analysis with Financial Frictions

Chiarini, Bruno - 2016

explaining the consumption path after a Marginal Efficiency of Investment shock. We use an otherwise standard medium-scale New …

Persistent link: https://www.econbiz.de/10012984510

What Drives Aggregate Investment? : Evidence from German Survey Data

Bachmann, Ruediger; Zorn, Peter - 2021

The ifo Investment Survey asks firms in the German manufacturing sector about the importance of sales, technological … factors, finance, return expectations, and macroeconomic policy for their investment activity in a given year. We show that … these subjective investment determinants 1) capture economically what their labels suggest, and 2) have strong explanatory …

Persistent link: https://www.econbiz.de/10013315790

Optimal Management with Potential Regime Shifts

Polasky, Stephen - 2010

We analyze how the threat of a potential future regime shift affects optimal management. We use a simple general growth model to analyze four cases that involve combinations of stock collapse versus changes in system dynamics, and exogenous versus endogenous probabilities of regime shift. Prior...

Persistent link: https://www.econbiz.de/10013136238

The Role of Economic Policy in Climate Change Adaptation

Konrad, Kai A. - 2012

This paper assesses the role of the public sector in adaptation to climate change. We first offer a definition and categorisation of climate change adaptation. We then consider the primary economic principles that can guide the assignment of adaptation tasks to either the private or the public...

Persistent link: https://www.econbiz.de/10013099237

Current Account Imbalances and Structural Adjustment in the Euro Area : How to Rebalance Competitiveness

Zemanek, Holger - 2014

Low international competitiveness of a set of euro area countries, which have become evident by large current account deficits and rising risk premiums on government bonds, is one of the most challenging economic policy issues for Europe. We analyse the role of private restructuring and public...

Persistent link: https://www.econbiz.de/10013071193

Labor Market Policies and European Crises

Bertola, Giuseppe - 2013

This paper studies theoretically and empirically why and how labor policies may reduce productivity and employment in order to stabilize labor incomes and redistribute resources. It proposes a specific stylized model where the tradeoffs facing labor policies are influenced by structural factors,...

Persistent link: https://www.econbiz.de/10013073087

Learning Capitalism the Hard Way - Evidence from German Reunification

Triebs, Thomas - 2017

We develop a model of firm learning in volatile markets with noisy signals and test its predictions using historical German data. Firms' forecasts improve with age. We exploit German Reunification as a natural experiment where firms in the East are treated with ignorance about the distribution...

Persistent link: https://www.econbiz.de/10012964186

Macroeconomic Policy Making, Exchange Rate Adjustment and Current Account Imbalances in Emerging Markets

Duarte, Pablo - 2014

Since a series of crisis events after 2007, the discussion about the adjustment channels of current account imbalances has been revived. We discuss the effectiveness of exchange rates versus macroeconomic policies to rebalance current accounts for a set of 86 mainly emerging market economies. We...

Persistent link: https://www.econbiz.de/10013043592

Social Unrest in the Wake of IMF Structural Adjustment Programs

Stroup, Caleb - 2014

This paper proposes an answer to the question of why social unrest sometimes occurs in the wake of an IMF Structural Adjustment Program (SAP). Under certain circumstances, partly determined by a country's comparative advantage, a nation's elite may have an incentive to make transfers to the rest...

Persistent link: https://www.econbiz.de/10013064044

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