Showing 1 - 6 of 6
. cost and wage vs. employment adjustments in response to cost-push shocks depend – in theoretically sensible ways – on the … institutional features of firms and of their environment. Focusing on the passthrough of cost shocks to prices, our results suggest …
Persistent link: https://www.econbiz.de/10013133770
Several European countries are currently considering reversing parts of their pension reforms that were adopted previously to improve sustainability. In this paper we present a framework that allows us to quantify the macroeconomic and fiscal costs of such reversals. We thereby integrate the...
Persistent link: https://www.econbiz.de/10012836379
This paper shows that adjustment costs modelled as firing costs of moderate size go a long way in explaining the variability and counter-cyclicality of the labour share at the firm and aggregate level. Firing costs cause firms to fire less in recessions and hire less in booms causing wage costs...
Persistent link: https://www.econbiz.de/10013317041
We use financial accounts data at sector level to construct financial networks for individual euro area countries. We then connect the country-level networks to one large “Macro Network”, using information on cross-border linkages between the national banking sectors. We then evaluate the...
Persistent link: https://www.econbiz.de/10013087568
(downswing) phase of the financial cycle. Nevertheless, the lower procyclicality of US GAAP seems to come at cost of a large …
Persistent link: https://www.econbiz.de/10012844615
We provide a simple and tractable accounting-based stress-testing framework to assess loss dynamics in the banking sector, in a context of leverage targeting. Contagion can occur through direct interbank exposures, and indirect exposures due to overlapping portfolios with the associated price...
Persistent link: https://www.econbiz.de/10013314832