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The Costs of Job Displacement over the Business Cycle and Its Sources : Evidence from Germany
Schmieder, Johannes; Wachter, Till von; Heining, Jörg - National Bureau of Economic Research - 2022
We document the sources behind the costs of job loss over the business cycle using administrative data from Germany …
Persistent link: https://www.econbiz.de/10013334381
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Sovereign Default Risk and Firm Heterogeneity
Arellano, Cristina - 2017
the effects that sovereign risk has on real economic activity. In an application to Italy, we find that the progressive …
Persistent link: https://www.econbiz.de/10012455367
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Relationship and Transaction Lending in a Crisis
Bolton, Patrick - 2013
We study how relationship lending and transaction lending vary over the business cycle. We develop a model in which relationship banks gather information on their borrowers, which allows them to provide loans for profitable firms during a crisis. Due to the services they provide, operating costs...
Persistent link: https://www.econbiz.de/10012459195
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Estimating the Recession-Mortality Relationship when Migration Matters
Arthi, Vellore - 2017
A large literature following Ruhm (2000) suggests that mortality falls during recessions and rises during booms. The panel-data approach used to generate these results assumes that either there is no substantial migration response to temporary changes in local economic conditions, or that any...
Persistent link: https://www.econbiz.de/10012455175
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Endogenous Technology Adoption and R&D as Sources of Business Cycle Persistence
Anzoategui, Diego - 2016
We examine the hypothesis that the slowdown in productivity following the Great Recession was in significant part an endogenous response to the contraction in demand that induced the downturn. We first present some panel data evidence that technology diffusion is highly cyclical. We then develop...
Persistent link: https://www.econbiz.de/10012456668
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Long-Term Unemployment and the Great Recession : The Role of Composition, Duration Dependence, and Non-Participation
Kroft, Kory - 2014
We explore the extent to which composition, duration dependence, and labor force non-participation can account for the sharp increase in the incidence of long-term unemployment (LTU) during the Great Recession. We first show that compositional shifts in demographics, occupation, industry,...
Persistent link: https://www.econbiz.de/10012458392
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The Effect of Macroeconomic Uncertainty on Household Spending
Coibion, Olivier; Georgarakos, Dimitris; Gorodnichenko, … - National Bureau of Economic Research - 2021
Using a new survey of European households, we study how exogenous variation in the macroeconomic uncertainty perceived by households affects their spending decisions. We use randomized information treatments that provide different types of information about the first and/or second moments of...
Persistent link: https://www.econbiz.de/10012496179
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Business Cycles and the Exchange Rate System : Some International Evidence
Baxter, Marianne - 1988
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/10012476375
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Inflation and Activity – Two Explorations and their Monetary Policy Implications
Blanchard, Olivier - 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/10012456944
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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/10012460226