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Persistent link: https://www.econbiz.de/10001646494
The stochastic process for earnings is the key element of incomplete markets models in modern quantitative macroeconomics. We show that a simple modification of the canonical process used in the literature leads to a dramatic improvement in the measurement of earnings dynamics in administrative...
Persistent link: https://www.econbiz.de/10012977281
States, Canada, Germany, and several other OECD countries during and after the Great Recession of 2008-09. Unemployment rates … did not change substantially in Germany, increased and remained at relatively high levels in the United States, and … increased moderately in Canada. More recent data also show that, unlike Germany and Canada, the U.S. unemployment rate remains …
Persistent link: https://www.econbiz.de/10013043619
per job of $30,000 per year. A complementary IV estimation strategy yields similar estimates. We also explore the …
Persistent link: https://www.econbiz.de/10012986682
We study the post-war evidence for Japan to see if the same specification for both the economy and the monetary policy rule is useful for understanding Japan's economy and monetary policy. A recurrent theme in the literature on Japanese monetary policy is that there are significant differences...
Persistent link: https://www.econbiz.de/10013245712
We investigate how labor and investment demand at the firm level (gross as well as net and replacement investment separately) differs in French, German and U.S. manufacturing, and has changed since the 1974-75 crisis. We use three consistent panel data samples of large firms for1970-79, and rely...
Persistent link: https://www.econbiz.de/10013235901
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or stifle innovation. Using three distinct sources of variation to identify rising trade exposure, we provide a causal …-level and technology class-level patent production. Accompanying this fall in innovation, global employment, sales …
Persistent link: https://www.econbiz.de/10012978100
quality, follow-on innovation. Winning a first patent boosts a startup's subsequent growth and innovation by facilitating …
Persistent link: https://www.econbiz.de/10012960171