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Great Moderation at the Firm Level? Unconditional vs. Conditional Output Volatility
Buch, Claudia M. - 2013
Aggregated output in industrialized countries has become less volatile over the past decades. Whether this quot;Great Moderationquot; can be found in firm level data as well remains disputed. We study the evolution of firm level output volatility using a balanced panel dataset on German firms...
Persistent link: https://www.econbiz.de/10012753581
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Great Moderation at the Firm Level? Unconditional vs. Conditional Output Volatility
Buch, Claudia M.; Döpke, Jörg; Stahn, Kerstin - CESifo - 2008
Aggregated output in industrialized countries has become less volatile over the past decades. Whether this “Great Moderation” can be found in firm level data as well remains disputed. We study the evolution of firm level output volatility using a balanced panel dataset on German firms that...
Persistent link: https://www.econbiz.de/10005406136
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The Price Puzzle Revisited: Can the Cost Channel Explain a Rise in Inflation after a Monetary Policy Shock?
Henzel, Steffen; Hülsewig, Oliver; Mayer, Eric; … - CESifo - 2007
This paper explores whether the cost channel solves the price puzzle. We set-up a New Keynesian DSGE model and estimate it for the euro area by adopting a minimum distance approach. Our findings suggest that - under certain parameter restrictions which are not rejected by the data - the cost...
Persistent link: https://www.econbiz.de/10005094397
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Business Cycle Effects of Credit and Technology Shocks in a DSGE Model with Firm Defaults
Pesaran, M. Hashem - 2011
This paper proposes a theoretical framework to analyze the impacts of credit and technology shocks on business cycle … different realizations of firm specific technology shocks, possibly leading to default by some firms. The paper advances a new … financial institutions in the transmission of credit and technology shocks to the real economy. A positive credit shock, defined …
Persistent link: https://www.econbiz.de/10013119521
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Technology Shocks and Aggregate Fluctuations in an Estimated Hybrid RBC Model
Malley, Jim - 2009
technology shocks in explaining aggregate fluctuations. To this end we estimate the model's posterior density using Markov …
Persistent link: https://www.econbiz.de/10013160381
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How Effective are Advertising Bans? On the Demand for Quality in Two-Sided Media Markets
Greiner, Tanja - 2011
We study a two-sided markets model of two competing television stations that offer content of differentiated quality to ad-averse consumers and advertising space to firms. As all consumers prefer high over low quality content, competition for viewers is vertical. By contrast, competition for...
Persistent link: https://www.econbiz.de/10013122127
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Community Enterprises - An Institutional Innovation
Frey, Bruno S. - 2011
Management research has long focused on the theory of the firm, studying for-profit organizations that produce privately owned resources based on central authority and within well-defined boundaries. In recent times, a new kind of enterprise has emerged that we call Community Enterprises. They...
Persistent link: https://www.econbiz.de/10013125697
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Do Entrepreneurs Matter?
Becker, Sascha O. - 2013
In the large literature on firm performance, economists have given little attention to entrepreneurs. We use deaths of more than 500 entrepreneurs as a source of exogenous variation, and ask whether this variation can explain shifts in firm performance. Using longitudinal data, we find large and...
Persistent link: https://www.econbiz.de/10013087281
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Sustainability of Product Market Collusion Under Credit Market Imperfections
Marjit, Sugata - 2017
We study the implications of credit constraints for the sustainability of product market collusion in a bank-financed oligopoly in which firms face an imperfect credit market. We consider two situations, without and with credit rationing, i.e., with a binding credit limit. When there is credit...
Persistent link: https://www.econbiz.de/10012963378
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Costs of Managerial Attention and Activity as a Source of Sticky Prices : Structural Estimates from an Online Market
Ellison, Sara Fisher - 2017
We study price dynamics for computer components sold on a price-comparison website. Our fine-grained data — a year of hourly price data for scores of rival retailers — allow us to estimate a dynamic model of competition, backing out structural estimates of managerial frictions. The estimated...
Persistent link: https://www.econbiz.de/10012963386