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Relationship between the real estate sector and the stock market in Chinese provinces
Di, Zeyu; Heshmati, Almas; Liu, Sijia - 2022
In China, real estate and the stock market are the two main markets favored by both individual and institutional investors. There is a significant economic link between the two. Therefore, their relationship and long-term and short-term causality can provide good guidance for investors. This...
Persistent link: https://www.econbiz.de/10013172898
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The UK's productivity puzzle
Bryson, Alex; Forth, John - 2015
The 2008 Great Recession was notable in the UK for three things: the enormity of the output shock; the muted unemployment response; and the very slow rate of recovery. We review the literature which finds most of the decline in productivity is within sector and within firm before presenting new...
Persistent link: https://www.econbiz.de/10011281607
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Volatility and growth : governments are key
Jetter, Michael - 2013
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
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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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Skewness expectations and portfolio choice
Drerup, Tilman H.; Wibral, Matthias; Zimpelmann, Christian - 2022
Many models of investor behavior predict that investors prefer assets that they believe to have positively skewed return distributions. We provide a direct test of this prediction in a representative sample of the Dutch population. Using individual-level data on return expectations for a broad...
Persistent link: https://www.econbiz.de/10012805556
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Expected inflation, sunspots equilibria and persistent unemployment fluctuations
Dufourt, Frédéric; Lloyd-Braga, Teresa; Modesto, Leonor - 2009
European unemployment rates. They also generate positive comovements in macroeconomic variables and a large relative volatility …
Persistent link: https://www.econbiz.de/10003879337
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Secular satiation
Saint-Paul, Gilles - 2017
Satiation of need is generally ignored by growth theory. I study a model where consumers may be satiated in any given …
Persistent link: https://www.econbiz.de/10011704209
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When the market drives you crazy : stock market returns and fatal car accidents
Guilietti, Corrado; Tonin, Mirco; Vlassopoulos, Michael - 2018
The stock market influences some of the most fundamental economic decisions of investors, such as consumption, saving, and labor supply, through the financial wealth channel. This paper provides evidence that daily fluctuations in the stock market have important - and hitherto neglected -...
Persistent link: https://www.econbiz.de/10011893801
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Why is old workers' labor market more volatile? : unemployment fluctuations over the life-cycle
Hairault, Jean-Olivier; Langot, François; Sopraseuth, … - 2014
Since the last recession, it is usually argued that older workers are less affected by the economic downturn because their unemployment rate rose less than the one of prime-age workers. This view is a myth: older workers are more sensitive to the business cycle. We document volatilities of...
Persistent link: https://www.econbiz.de/10010339640
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From riches to rags, and back? : institutional change, financial development and economic growth in Argentina since the 1890s
Campos, Nauro; Karanasos, Menelaos; Tan, Bin - 2014
individual effects on economic growth and volatility using the power-ARCH framework with annual data since the 1890s. The results …
Persistent link: https://www.econbiz.de/10010440609