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Firm-specific productivity risk over the business cycle : facts and aggregate implications
Bachmann, Ruediger; Bayer, Christian - 2009
question in the context of a heterogeneousfirm RBC model with persistent firm-level productivity shocks and lumpy capital …
Persistent link: https://www.econbiz.de/10003857672
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The cross-section of firms over the business cycle : new facts and a DSGE exploration
Bachmann, Ruediger; Bayer, Christian - 2009
cross-sections of firm-level real value added and Solow residual innovations, as well as capital and employment adjustment …
Persistent link: https://www.econbiz.de/10003857682
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Price rigidity, the mark-up and the dynamics of the current account
Lombardo, Giovanni - 2002
This paper shows that the degree of competition affects the current account response to nominal shocks. The mechanism hinges on the relationship between the mark-up and the degree of real rigidity of prices. In a model with intermediate goods, the degree of real rigidity increases in the markup....
Persistent link: https://www.econbiz.de/10011431608
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Financial exchange rates and international currency exposures
Lane, Philip R. (contributor); Shambaugh, Jay C. (contributor) - 2008
reduced their foreign currency exposure over the last decade. -- Financial integration ; capital flows ; external assets and …
Persistent link: https://www.econbiz.de/10003794424
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Do we really know that flexible exchange rates facilitate current account adjustment? : some new empirical evidence for CEE countries
Herrmann, Sabine - 2009
This paper examines the relationship between the exchange rate regime and the pace of current account adjustment. The panel data set we refer to includes 11 catching-up countries from central, eastern and south-eastern Europe between 1994 and 2007. The exchange rate regime is measured by a...
Persistent link: https://www.econbiz.de/10003870833
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What drives portfolio investments of German banks in emerging capital markets?
Wildmann, Christian - 2010
After decades of steady liberalisation and financial market development, emerging capital markets experienced … unparalleled capital inflows in the aftermath of the emerging markets crisis in the 1990s. This paper studies portfolio investment … decisions of German banks in 30 emerging capital markets using monthly data from 2002 to 2007. The use of a dynamic Time …
Persistent link: https://www.econbiz.de/10003969867
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Portfolio holdings in the euro area : home bias and the role of international, domestic and sector-specific factors
Jochem, Axel; Volz, Ute - 2011
This paper aims to identify the determinants of portfolio restructuring in EMU member states since the introduction of the euro and especially during the financial turbulence of the past years. We find that, besides exchange rate volatility and traditional indicators of information and...
Persistent link: https://www.econbiz.de/10008938584
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Business cycle evidence on firm entry
Lewis, Vivien (contributor) - 2008
Business cycle models with sticky prices and endegenous firm entry make novel predictions on the transmission of shocks through the extensive margin of investment. This paper tests some of these predictions using a vector autoregression with model-based sign restrictions. We find a positive and...
Persistent link: https://www.econbiz.de/10003670542
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Taxing deficits to restrain government spending and foster capital accumulation
Stähler, Nikolai (contributor) - 2007
. Lower government spending and the resulting reduced deficit bias augment capital accumulation. …
Persistent link: https://www.econbiz.de/10003546009
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Unemployment, factor substitution, and capital formation
Kaas, Leo; Thadden, Leopold von - 2001
, capital, and income shares respond to wage setting shocks and show that adjustment dynamics depend decisively on the magnitude … of the elasticity of substitution between labour and capital. Values of the elasticity below unity add persistence, tend …
Persistent link: https://www.econbiz.de/10011419073