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The cross-sectional dynamics of the U.S. business cycle is examined through the lens of quantile regression models. Conditioning the quantiles of firm-level growth to different measures of technological change highlights a deep connection between counter-cyclical skewness and the transmission of...
Persistent link: https://www.econbiz.de/10009757407
Can a temporary negative shock generate long-lasting effects on economic activities? To show causal evidence, we utilize data from Japanese multinational corporations (MNCs) and explore the economic impact of the unexpected escalation of an island dispute between China and Japan in 2012. Our...
Persistent link: https://www.econbiz.de/10011554377
SVAR models that include a single world price (such as the terms-of-trade) predict that world shocks explain a small fraction of movements in domestic output (typically less than 10 percent). This paper presents an empirical framework in which multiple commodity prices transmit world...
Persistent link: https://www.econbiz.de/10011673250
Using dynamic factor models and state-space techniques we quantify financial cycles for twenty European countries over the period 1960Q1–2015Q4 capturing imbalances across credit, housing, bond and equity markets. The paper documents the existence of slow-moving and persistent financial cycles...
Persistent link: https://www.econbiz.de/10012153925
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This study quantifies the impact of process and product innovation on employment growth in Bolivia by using microdata from a survey on innovation conducted in Bolivia in 2016. Following the model of Harrison, Jaumandreu, Mairesse, and Peters (2008) and the adaptations for Latin America of Crespi...
Persistent link: https://www.econbiz.de/10012670262
This paper shows that using yields may not be informative of the relationship between farm size and productivity in the … context of small-scale farming. This occurs because, in addition to productivity, yields pick up size-dependent market … distortions and decreasing returns to scale. As a result, a positive relationship between farm productivity and land size may turn …
Persistent link: https://www.econbiz.de/10012665044
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