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Government Deficit Shocks and Okun's Coefficient Volatility : New Insights on the Austerity Versus Growth Debate
Pham, Binh Thai - 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/10012864881
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Labor Supply and Consumption Smoothing When Income Shocks are Non-Insurable
Danzer, Alexander M. - 2011
workers' unobserved heterogeneity and measurement error in the wage shock information. The estimated labor supply responses …
Persistent link: https://www.econbiz.de/10013129923
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Aggregate Earnings and Macroeconomic Shocks : The Role of Labour Market Policies and Institutions
Bassanini, Andrea - 2012
I examine the effect of labour market policies and institutions on the transmission of macroeconomic shocks to the labour market, using both aggregate and industry-level annual data for 23 OECD countries, 23 business-sector industries and up to 29 years. I find that high and progressive labour...
Persistent link: https://www.econbiz.de/10013099104
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The Labor Market Consequences of Adverse Financial Shocks
Boeri, Tito - 2012
shock. Third, we present evidence coherent with the idea that more leveraged sectors experience larger employment volatility … market volatility and Okun's elasticity over the business cycle. Second, we highlight a key mechanism linking financial … in normal times deep capital markets lead to tight labor markets. After an adverse liquidity shock, firms that rely much …
Persistent link: https://www.econbiz.de/10013099747
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Identifying Regional Labor Demand Shocks Using Sign Restrictions
Juessen, Falko - 2012
We propose using sign restrictions to identify regional labor demand shocks in a panel VAR of US federal states. Observed migration responds significantly, but less persistently than the residual-based migration measure constructed by Blanchard and Katz (1992)
Persistent link: https://www.econbiz.de/10013099800
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Labor Market Institutions and the Response of Inflation to Macro Shocks in the EU : A Two-Sector Analysis
D'Adamo, Gaetano - 2013
We model empirically the role of labor market institutions in affecting the response of inflation to labor market and exchange rate shocks in the EU. We adopt a simple Phillips curve framework, treating separately the sectors producing traded and non-traded goods. Our results show that labor...
Persistent link: https://www.econbiz.de/10013075782
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How Do Industries and Firms Respond to Changes in Local Labor Supply?
Dustmann, Christian - 2012
In this paper, we investigate how changes in the skill mix of local labor supply are absorbed by the economy. We distinguish between three adjustment mechanisms: through factor prices, through an expansion in the size of those production units that use the more abundant skill group more...
Persistent link: https://www.econbiz.de/10013112767
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Children of Crisis : The Effects of Economic Shocks on Newborns
Akbulut-Yuksel, Mevlude - 2020
In this paper, we explore the deep economic crisis experienced by the Turkish economy in 2001 and 2008 as quasi-experiments to causally identify the association between economically challenging conditions in-utero and child's birth weight. First, we utilize the temporal and spatial variations of...
Persistent link: https://www.econbiz.de/10012843173
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Partial Insurance and Investments in Children
Carneiro, Pedro Manuel - 2015
This paper studies the impact of permanent and transitory shocks to income on parental investments in children. We use panel data on family income, and an index of investments in children in time and goods, from the Children of the National Longitudinal Survey of Youth. Consistent with the...
Persistent link: https://www.econbiz.de/10013023770
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Can Immigrants Insure Against Shocks as Well as the Native-Born?
Islam, Asad - 2016
actions to mitigate the direct impact of the shock. In this paper, we use nine years of longitudinal data from the Household …
Persistent link: https://www.econbiz.de/10012985700