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Interest Rate Hysteresis in Macroeconomic Investment Under Uncertainty

Belke, Ansgar Hubertus - 2019

the scenarios of both certainty and uncertainty. We capture the direct interest rate-hysteresis on the investments and the … capital stock and, explicitly, of stochastic changes on the interest rate-investment hysteresis. Starting with hysteresis … hysteresis effects on a macroeconomic level. Based on our simple model we are able to obtain some conclusions about the efficacy …

Persistent link: https://www.econbiz.de/10012863765

Aggregation in Large Dynamic Panels

Pesaran, M. Hashem - 2011

This paper considers the problem of aggregation in the case of large linear dynamic panels, where each micro unit is potentially related to all other micro units, and where micro innovations are allowed to be cross sectionally dependent. Following Pesaran (2003), an optimal aggregate function is...

Persistent link: https://www.econbiz.de/10013129942

Worker Identity, Employment Fluctuations and Stabilization Policy

Snower, Dennis J. - 2013

This paper provides a model of "social hysteresis" whereby long, deep recessions demotivate workers and thereby lead …

Persistent link: https://www.econbiz.de/10013080876

Expected Inflation, Sunspots Equilibria and Persistent Unemployment Fluctuations

Dufourt, Frédéric - 2009

We propose and estimate a model where unemployment fluctuations result from self-fulfilling changes in expected inflation (sunspot shocks) affecting nominal wage bargaining. Since the estimated parameters fall near the locus of Hopf bifurcations, country-specific expected inflation shocks can...

Persistent link: https://www.econbiz.de/10013157753

Monetary Persistence, Imperfect Competition, and Staggering Complementarities

Merkl, Christian; Snower, Dennis J. - 2021

This paper explores the influence of wage and price staggering on monetary persistence. We show that, for plausible parameter values, wage and price staggering are complementary in generating monetary persistence. We do so by proposing the new measure of quantitative inertia, after discussing...

Persistent link: https://www.econbiz.de/10013316832

Discretionary Measures of Active Labor Market Policy : The German Employment Promotion Reform in Perspective

Schmidt, Christoph M.; Fertig, Michael - 2021

This paper provides a preliminary assessment of recent reforms of German employment promotion policy. While several recent studies analyze the impact of measures of employment promotion for the case of Germany, no comparable study exists on the aggregate level, thus precluding any assessment of...

Persistent link: https://www.econbiz.de/10013321250

The Dynamics of Entrepreneurship : Hysteresis, Business Cycles and Government Policy

Congregado, Emilio - 2009

US. We ask whether entrepreneurship exhibits hysteresis, defined as a macro dynamic structure in which cyclical … fluctuations have persistent effects on the natural rate of entrepreneurship. We find evidence of hysteresis in Spain, but not the …

Persistent link: https://www.econbiz.de/10012764085

Approaches to Estimating the Health State Dependence of the Utility Function

Finkelstein, Amy - 2009

If the marginal utility of consumption depends on health status, this will affect the economic analysis of a number of central problems in public finance, including the optimal structure of health insurance and optimal life cycle savings. In this paper, we describe the promises and challenges of...

Persistent link: https://www.econbiz.de/10012765310

Interest Rate Bands of Inaction and Play-Hysteresis in Domestic Investment : Evidence for the Euro Area

Belke, Ansgar Hubertus - 2019

'play' area. Second, we apply an algorithm describing path-dependent play-hysteresis to estimate investment hysteresis using …

Persistent link: https://www.econbiz.de/10012863789

The Origins of Early Childhood Anthropometric Persistence

Millimet, Daniel L. - 2013

Rates of childhood obesity have increased dramatically in the last few decades. Non-causal evidence suggests that childhood obesity is highly persistent over the life cycle. However little is known about the origins of this persistence. In this paper we attempt to answer three questions. First,...

Persistent link: https://www.econbiz.de/10013074169

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