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Resilience, Supply Chains and the Great Recession
Brakman, Steven - 2017
We analyse the link between supply chains and the extent to which the Great Recession has affected national economies. Our analysis is in two steps, namely first for value added measures of supply chains and then for the Grubel-Lloyd index using gross-export data. Regarding value added measures...
Persistent link: https://www.econbiz.de/10012953709
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The Macroeconomic Policy Challenges of Balance Sheet Recession : Lessons from Japan for the European Crisis
Schnabl, Gunther - 2013
The paper compares the boom-and-bust cycles in Japan and Europe with respect to the reasons for excessive booms, the characteristics of the crises, and the (potential) effects of the crisis therapies. As in Japan the consequence of expansionary monetary and fiscal policies is the hysteresis of...
Persistent link: https://www.econbiz.de/10013081055
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The Crisis and Regional Resilience in Europe : On the Importance of Urbanization and Specialization
Brakman, Steven - 2015
that started in 2008, as our shock and then analyze how the NUTS II EU regions differ in their resilience to the crisis in …Using a rich data set on the EU regions, we analyze the relevance of two possible determinants of a region's resilience … their resilience to shocks but it typically remains unclear as to why regions differ in this respect. For the 2008 …
Persistent link: https://www.econbiz.de/10013033744
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The Crisis and Regional Resilience in Europe: On the Importance of Urbanization and Specialization
Brakman, Steven; Garretsen, Harry; Marrewijk, Charles van - CESifo - 2014
that started in 2008, as our shock and then analyze how the NUTS II EU regions differ in their resilience to the crisis in …Using a rich data set on the EU regions, we analyze the relevance of two possible determinants of a region’s resilience … their resilience to shocks but it typically remains unclear as to why regions differ in this respect. For the 2008- 2012 …
Persistent link: https://www.econbiz.de/10010756164
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On the Cyclicity of Regional House Prices : New Evidence for U.S. Metropolitan Statistical Areas
Flor, Michael - 2015
This paper is mainly concerned with the analysis of regional house price cycles. Based on a newly available data set consisting of the 40 largest U.S. Metropolitan Statistical Areas (MSAs), we introduce a wavelet transform based metric to study the housing cycle synchronization across MSAs. We...
Persistent link: https://www.econbiz.de/10013017380
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Real Wages and Hours in the Great Recession : Evidence from Firms and Their Entry-Level Jobs
Schaefer, Daniel - 2018
Using employer-employee panel data, we provide novel facts on how real wages and working hours within jobs responded to the UK's Great Recession. In contrast to previous studies, our data enables us to address the cyclical composition of jobs. We show that firms were able to respond to the Great...
Persistent link: https://www.econbiz.de/10012929264
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Business Cycle Effects of Credit and Technology Shocks in a DSGE Model with Firm Defaults
Pesaran, M. Hashem - 2011
financial institutions in the transmission of credit and technology shocks to the real economy. A positive credit shock, defined … between loan and deposit rates. The effects of the credit shock tend to be highly persistent even without price rigidities and …
Persistent link: https://www.econbiz.de/10013119521
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Macroeconomic Uncertainty and the Impact of Oil Shocks
Van Robays, Ine - 2014
This paper evaluates whether macroeconomic uncertainty changes the impact of oil shocks on the oil price. Using a structural threshold VAR model, we endogenously identify different regimes of uncertainty in which we estimate the effects of oil demand and supply shocks. The results show that...
Persistent link: https://www.econbiz.de/10013065379
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Uncertainty and Monetary Policy in Good and Bad Times
Caggiano, Giovanni - 2017
We investigate the role played by systematic monetary policy in tackling the real effects of uncertainty shocks in U.S. recessions and expansions. We model key indicators of the business cycle with a nonlinear VAR that allows for different dynamics in busts and booms. Uncertainty shocks are...
Persistent link: https://www.econbiz.de/10012947523
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Estimating the Real Effects of Uncertainty Shocks at the Zero Lower Bound
Caggiano, Giovanni - 2017
We employ a parsimonious nonlinear Interacted-VAR to examine whether the real effects of uncertainty shocks are greater when the economy is at the ZeroLower Bound. We find the contractionary effects of uncertainty shocks to be statistically larger when the ZLB is binding, with differences that...
Persistent link: https://www.econbiz.de/10012947624