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The Impact of Covid-19 on Us Firms
Bloom, Nicholas; Fletcher, Robert; Yeh, Ethan - 2021
We use survey data on an opt-in panel of around 2,500 US small businesses to assess the impact of COVID-19. We find a significant negative sales impact that peaked in Quarter 2 of 2020, with an average loss of 29% in sales. The large negative impact masks significant heterogeneity, with over 40%...
Persistent link: https://www.econbiz.de/10013248738
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Monetary Policy, Business Cycles and the Behavior of Small Manufacturing Firms
Gertler, Mark; Gilchrist, Simon - 2021
We present evidence on the cyclical behavior of small versus large manufacturing firms, and on the response of the two classes of firms to monetary policy. Our goal is to take a step toward quantifying the role of credit market imperfections in the business cycle and in the monetary transmission...
Persistent link: https://www.econbiz.de/10013246383
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Uncertainty Business Cycles - Really?
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
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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
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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
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Defining Opportunity Versus Necessity Entrepreneurship : Two Components of Business Creation
Fairlie, Robert W. - 2019
United States and Germany we find that 80-90 percent of entrepreneurs are opportunity entrepreneurs. Applying our proposed …
Persistent link: https://www.econbiz.de/10012860853
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Business Cycle Accounting
Chari, Varadarajan V.; Kehoe, Patrick J.; McGrattan, … - 2022
We propose a simple method to help researchers develop quantitative models of economic fluctuations. The method rests on the insight that many models are equivalent to a prototype growth model with time-varying wedges which resemble productivity, labor and investment taxes, and government...
Persistent link: https://www.econbiz.de/10013324144
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Business Cycles and the Exchange Rate System : Some International Evidence
Baxter, Marianne; Stockman, Alan C. - 2021
This paper investigates empirically the differences in time?series behavior of key economic aggregates under alternative exchange rate systems. We use a postwar sample of 49 countries to compare the behavior of output. consumption, trade flows, government consumption spending, and real exchange...
Persistent link: https://www.econbiz.de/10013229068
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The Effects of Extended Unemployment Insurance Over the Business Cycle : Evidence from Regression Discontinuity Estimates Over Twenty Years
Schmieder, Johannes F. - 2012
differential effects of UI in booms and recessions, this paper exploits the fact that, in Germany, potential UI benefit duration is …
Persistent link: https://www.econbiz.de/10013110942
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Uncertainty and Economic Activity : Evidence from Business Survey Data
Bachmann, Ruediger - 2010
data from the U.S. and Germany in structural VARs, we find that positive innovations to business uncertainty lead to …
Persistent link: https://www.econbiz.de/10013141840