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Technology shocks and aggregate fluctuations in an estimated hybrid RBC model
Malley, James R.; Woitek, Ulrich - 2009
This paper contributes to the on-going empirical debate regarding the role of the RBC model and in particular of technology shocks in explaining aggregate fluctuations. To this end we estimate the model's posterior density using Markov-Chain Monte-Carlo (MCMC) methods. Within this framework we...
Persistent link: https://www.econbiz.de/10003833344
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Learning, structural instability and present value calculations
Pesaran, M. Hashem (contributor);  … - 2006
Present value calculations require predictions of cash flows both at near and distant future points in time. Such predictions are generally surrounded by considerable uncertainty and may critically depend on assumptions about parameter values as well as the form and stability of the data...
Persistent link: https://www.econbiz.de/10003300967
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Productivity shocks and aggregate fluctuations in an estimated endogenous growth model with human capital
Malley, James R.; Woitek, Ulrich - 2011
Employing an endogenous growth model with human capital, this paper explores how productivity shocks in the goods and human capital producing sectors contribute to explaining aggregate fluctuations in output, consumption, investment and hours. Given the importance of accounting for both the...
Persistent link: https://www.econbiz.de/10009295333
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The loan puzzle : a study of loans to different groups in the USA.
Cafiso, Gianluca - 2020
We study loans from banking and non-banking lenders to different groups of borrowers in order to unveil significant differences on how those respond to a shock and evaluate possible alternative explanations for such differences. The objective is to gain insights useful to explain the loan...
Persistent link: https://www.econbiz.de/10012194423
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How do financial crises redistribute risk?
Mitchener, Kris; Vossmeyer, Angela - 2023
We examine how financial crises redistribute risk, employing novel empirical methods and micro data from the largest financial crisis of the 20th century - the Great Depression. Using balance-sheet and systemic risk measures at the bank level, we build an econometric model with incidental...
Persistent link: https://www.econbiz.de/10014323137
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Does U.S. monetary policy respond to macroeconomic uncertainty?
Gomez, Thomas; Piccillo, Giulia - 2023
We find that macroeconomic uncertainty plays a significant role in U.S. monetary policy. First, we construct a measure of uncertainty as felt by policymakers at the time of making their rate-setting decisions. This measure is derived from a real-time, Bayesian estimation of a small monetary VAR...
Persistent link: https://www.econbiz.de/10014265941
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Do pandemics change healthcare? : evidence from the great influenza
Esteves, Rui Pedro; Mitchener, Kris; Nencka, Peter; … - 2022
find that cities with higher levels of mortality during the Great Influenza of 1918-1919 subsequently expanded hospital …
Persistent link: https://www.econbiz.de/10013453768
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The gift of a lifetime : the hospital, modern medicine, and mortality
Hollingsworth, Alex; Karbownik, Krzysztof; Thomasson, … - 2022
of the hospital from a fringe institution to one essential to the practice of medicine. Despite the central role of …. In this paper, we explore how access to the hospital and modern medicine affects mortality. We do so by leveraging a … combination of novel data and a unique quasi-experiment: a large-scale hospital modernization program introduced by The Duke …
Persistent link: https://www.econbiz.de/10013454014
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Pharmaceutical innovation, longevity, and medical expenditure in Greece, 1995 - 2010
Lichtenberg, Frank - 2015
death), hospital utilization, and medical expenditure in Greece during the period 1995 - 2010. The estimates indicate that … increases in the number of hospital days. Real per capita pharmaceutical expenditure increased rapidly during this period, but … 62% of the increase in pharmaceutical expenditure was offset by a reduction in hospital expenditure attributable to …
Persistent link: https://www.econbiz.de/10010473542
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The determinants of economic growth in European regions
Crespo Cuaresma, Jesús; Doppelhofer, Gernot; … - 2009
We use Bayesian Model Averaging (BMA) to evaluate the robustness of determinants of economic growth in a new dataset of 255 European regions in the 1995-2005 period. We use three different specifications based on (1) the cross-section of regions, (2) the cross-section of regions with country...
Persistent link: https://www.econbiz.de/10003806087