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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
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Pass-Through in Retail and Wholesale
Nakamura, Emi - 2010
This paper studies how prices comove across products, firms and locations to gauge the relative importance of retailer versus manufacturer-level shocks in determining prices. I make use of a large panel data set on prices for a cross-section of retailers in the U.S. I analyze prices at the...
Persistent link: https://www.econbiz.de/10012759358
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The Industrial Revolution in Services
Hsieh, Chang-Tai - 2019
The rise in national industry concentration in the US between 1977 and 2013 is driven by a new industrial revolution in three broad non-traded sectors: services, retail, and wholesale. Sectors where national concentration is rising have increased their share of employment, and the expansion is...
Persistent link: https://www.econbiz.de/10012868346