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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 … between loan and deposit rates. The effects of the credit shock tend to be highly persistent even without price rigidities and …
Persistent link: https://www.econbiz.de/10009488413
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Vertical industry relations, spillovers and productivity : evidence from Chilean plants
López, Ricardo A. (contributor); Südekum, Jens (contributor) - 2007
We use disaggregated data on Chilean plants, and the Chilean input-output table to examine the impact of agglomeration spillovers on total factor productivity (TFP). In common with previous studies, we find evidence of intra-industry spillovers, but no evidence of cross-industry spillovers in...
Persistent link: https://www.econbiz.de/10003557351
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Regional differences in intersectoral linkages and diverse patterns of structural transformation
Paul, Saumik; Raju, Dhushyanth - 2022
Intersectoral linkages can act as shock propagation channels and shape the pattern of structural transformation. To our … output shock that occurred in the south of Ghana leads to growing differences in intersectoral linkages between the north and … the south of the country, (2) the effect of the mining output shock on output and productivity growth in other sectors …
Persistent link: https://www.econbiz.de/10013332119
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Financial markets, banks' cost of funding, and firms' decisions : lessons from two crises
Balduzzi, Pierluigi; Brancati, Emanuele; Schiantarelli, … - 2013
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
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Asymmetric labor market institutions in the EMU and the volatility of inflation and unemployment differentials
Abbritti, Mirko; Müller, Andreas - 2012
volatility of both inflation and unemployment differentials. Finally, we show that it is important to take into account the …
Persistent link: https://www.econbiz.de/10009536516
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Government deficit shocks and Okun's coefficient volatility : new insights on the austerity versus growth debate
Binh Thai Pham; Sala, Hector - 2019
This paper connects two salient economic features: (i) Fiscal shocks have asymmetric effects across business cycle phases (Gechert et al., 2019); (ii) Okun's coefficient is time varying and may be unstable. The intertwined dynamic behavior of fiscal shocks and unemployment-output trade-offs are...
Persistent link: https://www.econbiz.de/10012054782
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The return of the long-run Phillips curve
Graham, Liam; Snower, Dennis J. - 2002
Persistent link: https://www.econbiz.de/10011415107
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A microfoundation for production functions : assignment of heterogenous workers to heterogenous jobs
Dupuy, Arnaud (contributor) - 2008
distribution of jobs and its evolution over time. -- Microfoundations of production function ; tasks assignment ; technical change …
Persistent link: https://www.econbiz.de/10003652691
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On reputation : a microfoundation of contract enforcement and price rigidity
Fehr, Ernst (contributor); Brown, Martin (contributor);  … - 2008
We study the impact of reputational incentives in markets characterized by moral hazard problems. Social preferences have been shown to enhance contract enforcement in these markets, while at the same time generating considerable wage and price rigidity. Reputation powerfully amplifies the...
Persistent link: https://www.econbiz.de/10003750306
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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