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Firm exit during recessions
Ayres, Joao; Raveendranathan, Gajendran - 2020
output, employment, and firm debt during the Great Recession (2007-2009) in the United States, we find that the credit shock … the drop in output and employment. …
Persistent link: https://www.econbiz.de/10012238357
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Gender and education gaps in employment : new evidence for the EU
Gökten, Meryem; Heimberger, Philipp; Arsenev, Aleksandr; … - 2024
This paper analyses (age-adjusted) employment rates by gender and education. We find that malefemale gender gaps and … high-low education gaps in employment vary markedly across European Union (EU) countries and regions, with larger gaps … education gaps in employment between high and lower education levels would raise the employment rate in the EU for the year 2022 …
Persistent link: https://www.econbiz.de/10014558979
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The Ins and Outs of Involuntary Part-time Employment
Borowczyk-Martins, Daniel; Lalé, Etienne - 2018
We develop an adjustment procedure to construct U.S. monthly time series of involuntary part-time employment stocks and … part-time work. Transitions from full-time to involuntary part-time employment dominate this dynamics, spiking up at …
Persistent link: https://www.econbiz.de/10012142390
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Consumption Dynamics under Time-Varying Unemployment Risk
Harmenberg, Karl; Ôberg, Erik - 2019
Private consumption demand falls in response to increased unemployment risk during a recession, as households increase their precautionary savings and postpone irreversible durable investments. The postponement effect is seven times as large as the precautionary-savings effect in a calibrated...
Persistent link: https://www.econbiz.de/10012142400
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Agency problems and endogenous economic fluctuations
Favara, Giovanni - Institut für Schweizerisches Bankwesen <Zürich> - 2006
This paper proposes a theory of investment fluctuations where the source of the oscillating dynamics is an agency problem between financiers and entrepreneurs. A central tenet of the theory is that investment decisions depend upon entrepreneurs’ initiative to select investment projects...
Persistent link: https://www.econbiz.de/10005858058
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Macroprudential policy and labor market dynamics in Latin America
Finkelstein Shapiro, Alan; González Gomez, Andrés - 2015
frictional, endogenous self-employment entry and a link between formal credit markets, informal credit, and the labor market. The … credit between firms, and self-employment plays a key role in explaining the adverse impact of macroprudential policy on …
Persistent link: https://www.econbiz.de/10011290968
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Firm entry and exit during recessions
Ayres, Joao; Raveendranathan, Gajendran - 2021
We analyze shocks to productivity, collateral constraint (credit shock), firm operation, and labor disutility in a model of firm dynamics with entry and exit. Shocks to firm operation and labor disutility capture COVID-19 lockdowns. Compared to the productivity shock, the credit and the lockdown...
Persistent link: https://www.econbiz.de/10012583735
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Reverse causality between oil policy and fiscal policy? : the Venezuelan experience
Manzano, Osmel; Saboin, José Luis - 2021
This paper uses a model of intergenerational accounting to simulate the intergenerational distribution of oil wealth in Venezuela. Venezuelan oil production does not seem to follow an optimal extraction path. Nevertheless, this is true if we do not consider what the government does with the...
Persistent link: https://www.econbiz.de/10012583980
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Macroeconomic and stock market interactions with endogenous aggregate sentiment dynamics
Flaschel, Peter; Charpe, Mattieu; Galanis, Giorgos; … - 2017
This paper studies the implications of heterogeneous capital gain expectations on output and asset prices. We consider a disequilibrium macroeconomic model where agents' expectations on future capital gains affect aggregate demand. Agents' beliefs take two forms - fundamentalist and chartist -...
Persistent link: https://www.econbiz.de/10011671937
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A Beveridge curve decomposition for Austria : what drives the unemployment rate?
Christl, Michael - 2019
The Austrian Beveridge curve shifted in 2014, leading to ongoing academic discussions about the reasons behind this shift. While some have argued that the shift was caused by a supply shock due to labour market liberalization, others have stated that matching efficiency decreased. Using a new...
Persistent link: https://www.econbiz.de/10011962116