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Uncertainty-Driven Business Cycles : Assessing the Markup Channel
Born, Benjamin - 2017
A growing recent literature relies on a precautionary pricing motive embedded in representative agent DSGE models with sticky prices and wages to generate negative output effects of uncertainty shocks. We assess whether this theoretical model channel is consistent with the data. Building a New...
Persistent link: https://www.econbiz.de/10012962916
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Business Cycle Asymmetries and the Labor Market
Kohlbrecher, Britta - 2016
This paper shows that the matching function and the Beveridge curve in the United States exhibit strong nonlinearities over the business cycle. These patterns can be replicated by enhancing a search and matching model with idiosyncratic productivity shocks for new contacts. Large negative...
Persistent link: https://www.econbiz.de/10012994696
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The Contribution of Pharmaceutical Innovation to Longevity Growth in Germany and France
Lichtenberg, Frank R. - 2014
-adjusted mortality rates of residents of Germany, using longitudinal, annual, state-level data during the period 2000-2007. The estimates …-adjusted cancer mortality rates of residents of France, using longitudinal, annual, cancer-site-level data during the period 2002 … mortality rates, and may have accounted for as much as half of the decline …
Persistent link: https://www.econbiz.de/10013069689
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Compulsory Schooling Reforms, Education and Mortality in Twentieth Century Europe
Gathmann, Christina; Jürges, Hendrik; Reinhold, Steffen - 2021
example, report contradictory effects of education and compulsory schooling on mortality - ranging from zero to large … mortality reductions. Using data from 19 compulsory schooling reforms implemented in Europe during the twentieth century, we … quantify the mean mortality effect and explore its dispersion across gender, time and countries. We find that men benefit from …
Persistent link: https://www.econbiz.de/10013315932
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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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The Optimal Distribution of the Tax Burden over the Business Cycle
Angelopoulos, Konstantinos - 2013
This paper analyses optimal income taxes over the business cycle under a balanced-budget restriction, for low, middle and high income households. A model incorporating capital-skill complementarity in production and differential access to capital and labour markets is developed to capture the...
Persistent link: https://www.econbiz.de/10013072515
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Does Short-Time Work Save Jobs? A Business Cycle Analysis
Balleer, Almut - 2014
In the Great Recession most OECD countries used short-time work (publicly subsidized working time reductions) to counteract a steep increase in unemployment. We show that short-time work can actually save jobs. However, there is an important distinction to be made: While the rule-based component...
Persistent link: https://www.econbiz.de/10013057643
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The Effect of Shocks to Labour Market Flows on Unemployment and Participation Rates
Dixon, Robert John - 2014
This paper presents an analysis of labour market dynamics, in particular of flows in the labour market and how they interact and affect the evolution of unemployment rates and participation rates, the two main indicators of labour market performance. Our analysis has two special features. First,...
Persistent link: https://www.econbiz.de/10013051614
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Systematic Monetary Policy and the Macroeconomic Effects of Shifts in Loan-to-Value Ratios
Bachmann, Ruediger - 2017
What are the macroeconomic consequences of changing aggregate lending standards in residential mortgage markets, as measured by loan-to-value (LTV) ratios? In a structural VAR, GDP and business investment increase following an expansionary LTV shock. Residential investment, by contrast, falls, a...
Persistent link: https://www.econbiz.de/10012955193
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Predicting Ordinary and Severe Recessions with a Three-State Markov-Switching Dynamic Factor Model. An Application to the German Business Cycle
Carstensen, Kai - 2017
We estimate a Markow-switching dynamic factor model with three states based on six leading business cycle indicators for Germany preselected from a broader set using the Elastic Net soft-thresholding rule. The three states represent expansions, normal recessions and severe recessions. We show...
Persistent link: https://www.econbiz.de/10012955198