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Transmission of US and EU economic policy uncertainty shock to Asian economies in bad and good times
Balcilar, Mehmet; Ozdemir, Zeynel Abidin; Ozdemir, Huseyin - 2020
This study empirically examines the fragility of five major Asian economies (China, Hong Kong, India, Japan, and South Korea) to economic policy uncertainty (EPU) of US and EU, and oil prices in different state of the economies. To investigate these dynamics, we use the relative tail dependence...
Persistent link: https://www.econbiz.de/10012226632
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Business cycle effects of credit and technology shocks in a DSGE model with firm defaults
Pesaran, M. Hashem; Xu, TengTeng - 2011
financial institutions in the transmission of credit and technology shocks to the real economy. A positive credit shock, defined …This paper proposes a theoretical framework to analyze the impacts of credit and technology shocks on business cycle … different realizations of firm specific technology shocks, possible leading to default by some firms. The paper advances a new …
Persistent link: https://www.econbiz.de/10009488413
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Uncertainty shocks and unemployment dynamics
Kandoussi, Malak; Langot, François - 2020
Recent events suggest that uncertainty changes play a major role in U.S. labor market fluctuations. This study analyzes the impact of uncertainty shocks on unemployment dynamics. Using a vector autoregression approach, we show that uncertainty shocks measured by stock market volatility have a...
Persistent link: https://www.econbiz.de/10012243477
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Bayesian inference for duration data with unobserved and unknown heterogeneity : Monte Carlo evidence and an application
Paserman, Marco Daniele (contributor) - 2004 - [Elektronische Ressource]
Persistent link: https://www.econbiz.de/10001896054
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Inequality indices as tests of fairness
Kanbur, Ravi; Snell, Andy - 2017
Standard income inequality indices can be interpreted as a measure of welfare loss entailed in departures from equality of outcomes, for egalitarian social welfare functions defined on the distribution of outcomes. But such a welfare interpretation has been criticized for a long time on the...
Persistent link: https://www.econbiz.de/10011641764
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Partial insurance and investments in children
Carneiro, Pedro; Ginja, Rita - 2015
This paper studies the impact of permanent and transitory shocks to income on parental investments in children. We use panel data on family income, and an index of investments in children in time and goods, from the Children of the National Longitudinal Survey of Youth. Consistent with the...
Persistent link: https://www.econbiz.de/10010510508
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Firm dynamics with frictional product and labor markets
Kaas, Leo; Kimasa, Bihemo - 2018
This paper analyzes the joint dynamics of prices, output and employment across firms. We develop a dynamic equilibrium model of heterogeneous firms who compete for workers and customers in frictional labor and product markets. Idiosyncratic productivity and demand shocks have distinct...
Persistent link: https://www.econbiz.de/10011896893
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Causal effects of monetary shocks : semiparametric conditional independence tests with a multinomial propensity score
Angrist, Joshua D. (contributor);  … - 2008
Macroeconomists have long been concerned with the causal effects of monetary policy. When the identification of causal effects is based on a selection-on-observables assumption, non-causality amounts to the conditional independence of outcomes and policy changes. This paper develops a...
Persistent link: https://www.econbiz.de/10003739948
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Local shocks and internal migration: the disparate effects of robots and Chinese imports in the US
Faber, Marius; Sarto, Andrés; Tabellini, Marco - 2021
Migration has long been considered one of the key mechanisms through which labor markets adjust to economic shocks. In this paper, we analyze the migration response of American workers to two of the most important shocks that hit US manufacturing since the late 1990s - Chinese import competition...
Persistent link: https://www.econbiz.de/10012603222
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Assessing forecast uncertainties in a VECX model for Switzerland : an exercise in forecast combination across models and observation windows
Assenmacher-Wesche, Katrin (contributor);  … - 2007
We investigate the effect of forecast uncertainty in a cointegrating vector error correction model for Switzerland. Forecast uncertainty is evaluated in three different dimensions. First, we investigate the effect on forecasting performance of averaging over forecasts from different models....
Persistent link: https://www.econbiz.de/10003561644