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Carlo experiments, where we also study the estimation of the aggregate effects of micro and macro shocks. The paper …
Persistent link: https://www.econbiz.de/10013129942
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
dispersion, and 2) the correlation between within-firm skill dispersion and productivity is positive in industries with higher …
Persistent link: https://www.econbiz.de/10012867157
This paper looks at the channels through which intangible assets affect productivity. The econometric analysis exploits … a new dataset on intangible investment (INTAN-Invest) in conjunction with EUKLEMS productivity estimates for 10 EU …-calculated factor share. These findings suggest investments in knowledge-based capital, i.e., intangible capital, produce productivity …
Persistent link: https://www.econbiz.de/10013051449
. Spillovers from FDI are identified by comparing changes in total factor productivity (TFP) among domestic plants in districts …
Persistent link: https://www.econbiz.de/10012829230
, environmental regulation, productivity, and consumer preferences have contributed to these reductions in pollution emissions. We …
Persistent link: https://www.econbiz.de/10013029138
'play' area. Second, we apply an algorithm describing path-dependent play-hysteresis to estimate investment hysteresis using …
Persistent link: https://www.econbiz.de/10012863789
This paper provides a model of "social hysteresis" whereby long, deep recessions demotivate workers and thereby lead …
Persistent link: https://www.econbiz.de/10013080876
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
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