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On-the-job search and the cyclical dynamics of the labor market
Krause, Michael U.; Lubik, Thomas A. - 2004
We develop a dynamic general equilibrium model where workers can engage in search while on the job. We show that on-the-job search is a key component in explaining labor market dynamics in models of equilibrium unemployment. The model predicts fluctuations of unemployment, vacancies, and labor...
Persistent link: https://www.econbiz.de/10010293492
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Measuring and Predicting Heterogeneous Recessions
Çakmaklı, Cem; Paap, Richard; van Dijk, Dick - 2012
This paper conducts an empirical analysis of the heterogeneity of recessions in monthly U.S. coincident and leading indicator variables. Univariate Markovswitching models indicate that it is appropriate to allow for two distinct recession regimes, corresponding with 'mild' and 'severe'...
Persistent link: https://www.econbiz.de/10010500207
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Vacancy matching and labor market conditions
Stadin, Karolina - 2012
estimation, show economically significant effects of shocks to the number of vacancies on employment dynamics, while shocks to …
Persistent link: https://www.econbiz.de/10010321379
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Adjusting Measures of Economic Output for Health: Is the Business Cycle Countercyclical?
Egan, Mark L.; Mulligan, Casey B.; Philipson, Tomas J. - 2013
Persistent link: https://www.econbiz.de/10013342519
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Spurious correlation in estimation of the health production function: A note
Akkoyunlu, Sule; Lichtenberg, Frank R.; Siliverstovs, Boriss - 2009
In this paper, we address the issue of spurious correlation in the production of health in a systematic way. Spurious correlation entails the risk of linking health status to medical (and nonmedical) inputs when no links exist. This note first presents the bounds testing procedure as a method to...
Persistent link: https://www.econbiz.de/10010315553
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Can intangible capital explain cyclical movements in the labor wedge?
Gourio, François; Rudanko, Leena - 2014
Intangible capital is an important factor of production in modern economies that is generally neglected in business cycle analyses. We demonstrate that intangible capital can have a substantial impact on business cycle dynamics, especially if the intangible is complementary with production...
Persistent link: https://www.econbiz.de/10010352192
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The increased importance of asset price misalignments for business cycle dynamics
Bask, Mikael; Madeira, João - 2011
We outline a dynamic stochastic general equilibrium (DSGE) model with trend extrapo-lation in asset pricing that we fit to quarterly U.S. macroeconomic time series with Baye-sian techniques. To be more precise, we modify the DSGE model in Smets and Wouters (2007) by incorporating asset traders...
Persistent link: https://www.econbiz.de/10010321374
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Credit supply and the housing boom
Justiniano, Alejandro; Primiceri, Giorgio E.; … - 2014
The housing boom that preceded the Great Recession was due to an increase in credit supply driven by looser lending constraints in the mortgage market. This view on the fundamental drivers of the boom is consistent with four empirical observations: the unprecedented rise in home prices and...
Persistent link: https://www.econbiz.de/10011460670
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Land prices and unemployment
Liu, Zheng; Miao, Jianjun; Zha, Tao - 2013
estimation indicates that a 10 percent drop in the land price leads to a 0.34 percentage point increase in the unemployment rate …
Persistent link: https://www.econbiz.de/10010397671
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Causal effect of income on health: Investigating two closely related policy reforms in Austria
Schnalzenberger, Mario - 2011
I investigate the effect of income on mortality of the pensioners, com- paring three subsequent policy periods in …- come on health. I estimate that lower pension did not change the mortality rate. The results are confirmed using both … experiments and different meth- ods of estimation. Furthermore, with regard to the expenditure on health services, I get that only …
Persistent link: https://www.econbiz.de/10010294890