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Employment stickiness in small manufacturing firms

Vermeulen, Philip - 2006

adjustment costs and indivisibility of labor in the employment stickiness of manufacturing firms with less than 75 employees …. When small firms have to adjust employment in units of at least one employee, indivisibility becomes an important source of … explains around 50% of the stickiness of employment, adjustment costs explain the other 50%. …

Persistent link: https://www.econbiz.de/10011604686

Cross-border diversification in bank asset portfolios

Buch, Claudia M.; Driscoll, John C.; Ostergaard, Charlotte - 2005

Taking the mean-variance portfolio model as a benchmark, we compute the optimally diversified portfolio for banks located in France, Germany, the U.K., and the U.S. under different assumptions about currency hedging. We compare these optimal portfolios to the actual cross-border assets of banks...

Persistent link: https://www.econbiz.de/10011604475

Unions, wage setting and monetary policy uncertainty

Grüner, Hans Peter; Hayo, Bernd; Hefeker, Carsten - 2005

Recent theoretical research has studied extensively the link between wage setting and monetary policymaking in unionized economies. This paper addresses the question of the role of monetary uncertainty from both an empirical and theoretical point of view. Our analysis is based on a simple model...

Persistent link: https://www.econbiz.de/10011604536

Are internet prices sticky?

Lünnemann, Patrick; Wintr, Ladislav - 2006

This paper studies the behaviour of Internet prices. It compares price rigidities on the Internet and in traditional brick-and-mortar stores and provides a cross-country perspective. The data set covers a broad range of items typically sold over the Internet. It includes more than 5 million...

Persistent link: https://www.econbiz.de/10011604691

Public debt and long-term interest rates: the case of Germany, Italy and the USA

Paesani, Paolo; Strauch, Rolf; Kremer, Manfred - 2006

macroeconomic consequences of government debt accumulation. Focusing on the USA, Germany and Italy over the 1983-2003 period, the …

Persistent link: https://www.econbiz.de/10011604702

International evidence on sticky consumption growth.

Carroll, Christopher D.; Slacalek, Jiri; Sommer, Martin - 2008

We estimate the degree of ‘stickiness’ in aggregate consumption growth (sometimes interpreted as reflecting consumption habits) for thirteen advanced economies. We find that, after controlling for measurement error, consumption growth has a high degree of auto-correlation, with a stickiness...

Persistent link: https://www.econbiz.de/10011604932

Fiscal policy, housing and stock prices

Afonso, António; Sousa, Ricardo M. - 2009

This paper investigates the link between fiscal policy shocks and movements in asset markets using a Fully Simultaneous System approach in a Bayesian framework. Building on the works of Blanchard and Perotti (2002), Leeper and Zha (2003), and Sims and Zha (1999, 2006), the empirical evidence for...

Persistent link: https://www.econbiz.de/10011605036

The macroeconomic effects of fiscal policy

Afonso, António; Sousa, Ricardo M. - 2009

We investigate the macroeconomic effects of fiscal policy using a Bayesian Structural Vector Autoregression approach. We build on a recursive identification scheme, but we: (i) include the feedback from government debt (ii); look at the impact on the composition of output; (iii) assess the...

Persistent link: https://www.econbiz.de/10011605037

Relative house price dynamics across euro area and US cities: convergence or divergence?

Hiebert, Paul; Roma, Moreno - 2010

This paper examines the time varying dispersion in city house price levels across the four biggest euro area countries compared with those in the United States. Using available city-level data over the period 1987-2008, it tests for price convergence and analyses key factors explaining price...

Persistent link: https://www.econbiz.de/10011605252

Zum Einfluß realer effektiver Wechselkurse auf die Wettbewerbsfähigkeit

Schumacher, Dieter - In: Vierteljahrshefte zur Wirtschaftsforschung 61 (1992) 1/2, pp. 27-48

Persistent link: https://www.econbiz.de/10011475308