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Job Creation and the Intra-distribution Dynamics of the Firm Size Distribution

Huber, Peter; Oberhofer, Harald; Pfaffermayr, Michael - 2011

Based on a structural model for initial firm size, survival and firm growth we estimate firm-specific transition probabilities between size classes of the firm size distribution. This allows an assessment of the impact of different (counterfactual) economic policy measures on intra-distribution...

Persistent link: https://www.econbiz.de/10011435314

The European Socio-Economic Model. Differences to the USA and Changes over Time

Aiginger, Karl; Guger, Alois - 2005

This paper analyses the main characteristics of the European Socio-Economic Model. We discuss how the model varies across countries within Europe, examine how the model has changed over time and compare the European model with the corresponding US model. While the differences with regard of...

Persistent link: https://www.econbiz.de/10011435185

Financial Development and Macroeconomic Volatility. Evidence from OECD Countries

Hahn, Franz R. - 2003

This paper discusses the link between financial development and macroeconomic volatility by exploring some of the ways through which financial development may affect business cycle fluctuations. To be specific, we examine whether stock market development exerts an unambiguous effect on...

Persistent link: https://www.econbiz.de/10011435122

Finance and the Business Cycle. The Ricardian Perspective

Hahn, Franz R. - 2003

A Ricardian-type set-up is used to explore the linkage between financial development and the business cycle. Though financial advancement may be good for growth due to making possible a higher degree of division of labor, it may, for the same reason, be bad for the business cycle. Building on...

Persistent link: https://www.econbiz.de/10011435135

The Financial Crisis as an Overshooting Phenomenon

Breuss, Fritz - 2009

features of the global financial crisis, having its origin in the loose monetary policy in the USA and spreading its recession … leaving aside the complex interactions of the real estate bubble in the USA, followed by the innovation of new financial …

Persistent link: https://www.econbiz.de/10011435247

Strengthening the Resilience of an Economy. Strategies to Prevent another Crisis

Aiginger, Karl - 2009

The financial crisis has affected the real economy in stages yet nevertheless at an unexpected rate and with all regions being affected simultaneously. It advanced almost independently of the regions' exposure to the actual initial causes, among them the subprime crisis, innovative financial...

Persistent link: https://www.econbiz.de/10011435262

An Anatomy of Firm Level Job Creation Rates over the Business Cycle

Hölzl, Werner; Huber, Peter - 2009

We study the evolution and cyclical dependency of the cross sectional distribution of firm level job creation rates from 1975 to 2004 for the Austrian private sector. We find that the share of firms that o not adjust has declined over time, but that the share of entries, exits, growing and...

Persistent link: https://www.econbiz.de/10011435272

The Current Economic Crisis: Causes, Cures and Consequences

Aiginger, Karl - 2009

production in the past 50 years. In the USA and Europe the decline in production over the entire economy was, however, much less …, even if the crisis management in Europe is not without fault, and despite the fact that in the USA and China economic … that of the USA and of the dynamic economies of neighbouring countries and Asia in order to avoid further crises, and to …

Persistent link: https://www.econbiz.de/10011435278

Post Crisis Policy: Some Reflections of a Keynesian Economist

Aiginger, Karl - 2010

This paper compares the depth and length of the recent crisis with the Great Depression in the 1930s. It claims that economic policy played a crucial role in shortening and curtailing the recent crisis. We analyse which policies were applied during the recent crisis and which measures worked. We...

Persistent link: https://www.econbiz.de/10011435292

Firm Growth, European Industry Dynamics and Domestic Business Cycles

Oberhofer, Harald - 2010

Based on the empirical firm growth literature and on heterogeneous (microeconomic) adjustment models, this paper empirically investigates the impact of European industry fluctuations and domestic business cycles on the growth performance of European firms. Since the implementation of the Single...

Persistent link: https://www.econbiz.de/10011435293