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A note on firm entry, markups and the business cycle

Cavallari, Lilia - In: Economic Modelling 35 (2013) C, pp. 528-535

This paper proposes a monetary model with firm entry as a means for alleviating the difficulties of real business cycle models in reproducing the smoothness and persistence of macroeconomic variables together with the volatility of profits and markups. Simulations show that my baseline model...

Persistent link: https://www.econbiz.de/10010719410

Asymmetries in the revenue–expenditure nexus: A tale of three countries

Paleologou, Suzanna-Maria - In: Economic Modelling 30 (2013) C, pp. 52-60

The objective of this paper is to examine the government revenue and expenditure relationship in the context of what is known as the soft and hard budget constraint strategy. We adopt a nonlinear framework with structural breaks and focus our empirical analysis in three countries. Two of them...

Persistent link: https://www.econbiz.de/10011048849

Evaluating a vector of the Fed’s forecasts

Sinclair, Tara M.; Stekler, H.O.; Carnow, Warren - In: International Journal of Forecasting 31 (2015) 1, pp. 157-164

forecasts. Finally, we use the same methodology to determine whether the Fed’s forecasts of GDP growth, inflation, and …

Persistent link: https://www.econbiz.de/10011117240

Wage-setting and capital in unionized markets: Evidence from South Europe

Kazanas, Thanassis; Miaouli, Natasha - In: Economic Modelling 37 (2014) C, pp. 368-376

The present paper analyzes the optimal response of real wages to the installed capital stock in a dynamic monopoly union. We use data from five Southern European countries during the period 1970–2010. We explore how this rent-extraction response changes over time and across countries depending...

Persistent link: https://www.econbiz.de/10010744026

The Feldstein–Horioka Puzzle and structural breaks: Evidence from EU members

Ketenci, Natalya - In: Economic Modelling 29 (2012) 2, pp. 262-270

cointegration relationships between investment and saving flows of European Union members three different cointegration techniques … were applied to the data. Firstly, the Johansen (1988) cointegration approach was used for the case of no cointegration … shifts, then the Gregory and Hansen (1996) cointegration test was applied, which allows for one structural shift. Finally …

Persistent link: https://www.econbiz.de/10010577067