Narrow search
Showing 1 - 10 of 79
Cover Image
Exports and capacity constraints : evidence for several euro area countries
Belke, Ansgar; Oeking, Anne; Setzer, Ralph - 2015
evidence of the importance of sunk costs and hysteresis in international trade. …
Persistent link: https://www.econbiz.de/10011300368
Cover Image
Hysteresis in West German unemployment reconsidered
Reutter, Michael - 2000
hysteresis effect - is quite popular among economists. However, because of an identification problem, much of the empirical … is argued that in a cointegration framework it is reasonable to define hysteresis as the absence of weak exogeneity of … evidence for hysteresis. …
Persistent link: https://www.econbiz.de/10009781510
Cover Image
Export hysteresis, capacity constraints and uncertainty : a smooth-transition analysis for euro area member countries
Belke, Ansgar; Wagemester, Jan - 2017
We argue that, under certain conditions described by a sunk cost hysteresis model, firms consider exports as a … evidence of the importance of sunk costs and hysteresis in international trade in these EMU member countries. What is more, our … and Portugal) the results underscore the empirical validity of the export hysteresis under uncertainty model. …
Persistent link: https://www.econbiz.de/10011718600
Cover Image
Revisions of potential output estimates in the EU after the Great Recession
Dovern, Jonas; Zuber, Christopher - 2019
Using European Commission real-time data, we show that potential output (PO) estimates were substantially and persistently revised downwards after the Great Recession. We decompose PO revisions into revisions of the capital stock, trend labor, and trend total-factor productivity (TFP)....
Persistent link: https://www.econbiz.de/10012026398
Cover Image
Switching-track after the great recession
Vinci, Francesca; Licandro, Omar - 2021
We propose a theoretical framework to reconcile episodes of V-shaped and L-shaped recovery, encompassing the behaviour of the U.S. economy before and after the Great Recession. In a DSGE model with endogenous growth, negative demand shocks destroy productive capacity, moving GDP to a lower...
Persistent link: https://www.econbiz.de/10012533939
Cover Image
Wages, unemployment, and the underground economy
Kolm, Ann-Sofie; Larsen, Birthe - 2003
While examining the macroeconomic effects of increased government control of the informal sector, this paper develops a two-sector general equilibrium model featuring matching frictions and worker-firm wage bargaining. Workers search for jobs in both the formal and the informal sector. We...
Persistent link: https://www.econbiz.de/10011404626
Cover Image
Fiscal consolidation plans with underground economy
Ferrara, Maria; Marzano, Elisabetta; Varlese, Monica - 2022
Fiscal consolidation literature often neglects that there are economies with a sizable underground sector and that most of time it is accounted in GDP statistics. This produces non negligible effects on fiscal multipliers. This paper explores a fiscal consolidation plan calling for a downsizing...
Persistent link: https://www.econbiz.de/10013041319
Cover Image
The impact of inequality on the informal economy in Latin America and the Caribbean with a MIMIC model
Takanohashi, Marcos; Ribeiro, Marcel; Schneider, Friedrich - 2023
Vast literature is available covering main Informal Economy (IE) causes and consequences for Latin America and Caribbean (LAC), but its size estimation has been mainly limited to worldwide models applied to the region. This paper proposes a MIMIC Base Model using a data set composed by 41...
Persistent link: https://www.econbiz.de/10014285538
Cover Image
Monetary persistence and the labor market : a new perspective
Lechthaler, Wolfgang; Merkl, Christian; Snower, Dennis J. - 2010
In this paper we propose a novel way to model the labor market in the context of a New-Keynesian general equilibrium model, incorporating labor market frictions in the form of hiring and firing costs. We show that such a model is able to replicate many important stylized facts of the business...
Persistent link: https://www.econbiz.de/10003937114
Cover Image
A note on the time series measure of conservatism
Brauer, Sebastian; Westermann, Frank - 2010
Asymmetric persistence of accounting income is often tested in a regression of changes in earnings on lagged changes in earnings, including an interaction term for negative changes (see Basu [1997] or Ball et al. [2009] for a recent overview). In this note we propose an alternative, but closely...
Persistent link: https://www.econbiz.de/10003940082