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Bachmann, Ruediger - 2011

Are fluctuations in firms' profitability risk a major cause of regular business cycles? We study this question within the framework of a heterogeneous-firm dynamic stochastic general equilibrium model with fixed capital adjustment costs. In such a model, surprise increases of risk lead to a...

Persistent link: https://www.econbiz.de/10013128887

Germany's Economic Unification : An Assessment after Ten Years

Sinn, Hans-Werner - 2011

A political miracle occurred when Germany was reunited, and at first glance an economic miracle has followed. Real … west Germany. Excessively high wages coupled with investment incentives that made the cost of capital negative rank high …

Persistent link: https://www.econbiz.de/10013132721

Structural and Cyclical Forces in the Labor Market During the Great Recession : Cross-Country Evidence

Sala, Luca - 2012

price and wage rigidities to study four countries (the U.S., the U.K., Sweden, and Germany) during the financial crisis and … factors were also important in the U.K., but less so in Sweden and Germany. Reduced matching efficiency was considerably less … important in the U.K. and Sweden than in the U.S., but matching efficiency improved in Germany, helping to keep unemployment low …

Persistent link: https://www.econbiz.de/10013099824

Data Gaps and the Policy Response to the Novel Coronavirus

Stock, James H. - 2020

This note lays out the basic Susceptible-Infected-Recovered (SIR) epidemiological model of contagion, with a target audience of economists who want a framework for understanding the effects of social distancing and containment policies on the evolution of contagion and interactions with the...

Persistent link: https://www.econbiz.de/10012838354

Instrumental Variables and Causal Mechanisms : Unpacking the Effect of Trade on Workers and Voters

Dippel, Christian - 2017

Instrumental variables (IV) are a common means to identify treatment effects. But standard IV methods do not allow us to unpack the complex treatment effects that arise when a treatment and its outcome together cause a second outcome of interest. For example, IV methods have been used to show...

Persistent link: https://www.econbiz.de/10012960515

Child Penalties Across Countries : Evidence and Explanations

Kleven, Henrik - 2019

This paper provides evidence on child penalties in female and male earnings in different countries. The estimates are based on event studies around the birth of the first child, using the specification proposed by Kleven et al. (2018). The analysis reveals some striking similarities in the...

Persistent link: https://www.econbiz.de/10012893143

Real-Time Price Discovery in Stock, Bond and Foreign Exchange Markets

Andersen, Torben G. - 2009

We characterize the response of U.S., German and British stock, bond and foreign exchange markets to real-time U.S. macroeconomic news. Our analysis is based on a unique data set of high-frequency futures returns for each of the markets. We find that news surprises produce conditional mean...

Persistent link: https://www.econbiz.de/10012767561

How is Macro News Transmitted to Exchange Rates?

Evans, Martin D.D. - 2009

This paper tests whether macroeconomic news is transmitted to exchange rates via the transactions process and if so, what share occurs via transactions versus the traditional direct channel. We identify the link between order flow and macro news using a heteroskedasticity-based approach, a la...

Persistent link: https://www.econbiz.de/10012767786

Inflation and Activity – Two Explorations and Their Monetary Policy Implications

Blanchard, Olivier J. - 2015

We explore two issues triggered by the crisis. First, in most advanced countries, output remains far below the pre-recession trend, suggesting hysteresis. Second, while inflation has decreased, it has decreased less than anticipated, suggesting a breakdown of the relation between inflation and...

Persistent link: https://www.econbiz.de/10013011919

Labor in the Boardroom

Jäger, Simon - 2019

corporate board seats going to worker representatives. We study a reformin Germany that abruptly abolished this mandate for …

Persistent link: https://www.econbiz.de/10012858402