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This paper questions unconventional fiscal policy effects when the monetary policy rate is at the zero lower bound. We provide evidence for the US that the spread between the policy rate and the US-LIBOR, which is more relevant for private sector transactions, increases with government...
Persistent link: https://www.econbiz.de/10010510610
paper offers a solution to this disagreement, suggesting that volatility carries a positive direct effect, but also a … volatility is then ambiguous. The paper reveals the underlying endogeneity of government size in a balanced panel of 95 countries … increase of volatility lowers growth by up to 0.57 percentage points in a democracy, but raises growth by 1.74 percentage …
Persistent link: https://www.econbiz.de/10010228789
We test whether financial fluctuations affect firms' decisions, through their impact on banks' cost of funding. We exploit two shocks to Italian bank CDS spreads and equity valuations: the 2007-2009 financial crisis and the 2010-2012 sovereign debt crisis. Using newly available data linking over...
Persistent link: https://www.econbiz.de/10010229932
individuals' sleep time exhibits both variability and volatility characterized by stationary autoregressive conditional … young children at home. Volatility is greater among parents with young children, slightly greater among men than women, but … independent of other demographics. A theory of economic incentives to minimize the dispersion of sleep predicts that higher …
Persistent link: https://www.econbiz.de/10012805079
achieve similar volatility than fully deregulated labor markets. Flexibility at the margin produces a gap in separation costs … de labor market volatility. This increased volatility is partially reverted when limitations in the duration and number … explain the similar volatility observed in many regulated OECD labor markets with flexibility at the margin vis-à-vis the …
Persistent link: https://www.econbiz.de/10003652705
European unemployment rates. They also generate positive comovements in macroeconomic variables and a large relative volatility …
Persistent link: https://www.econbiz.de/10003879337
This paper shows that the German labor market is more volatile than the US labor market. Specifically, the volatility … vacancies) divided by the volatility of labor productivity is roughly twice as large as in the United States. We derive and …
Persistent link: https://www.econbiz.de/10003896476
than by GARCH type volatility estimates. The t-DCC estimation procedure is applied to a portfolio of daily returns on … suggest a general trend towards a lower level of return volatility, accompanied by a rising trend in conditional cross …
Persistent link: https://www.econbiz.de/10003586562
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