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Do business-related services really lag behind manufacturing industries in the business cycle? : empirical evidence on the lead/lag relationship between business-related services a...
Kaiser, Ulrich; Voß, Katrin - 1999
In an a priori view, it is usually assumed that the business cycle of manufacturing industries leads the business cycle of the service sector. This seems to be even more plausible for the relationship between business-related services, whose high growth rates in recent years were largely due to...
Persistent link: https://www.econbiz.de/10011442943
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The role of structural common and country-specific shocks in the business cycle dynamics of the G7 countries
Seymen, Atilim; Kappler, Marcus - 2009
The study analyses the business cycles of the G7 countries in a structural vector autoregression(SVAR) framework comprising output, nominal interest rate and inflation. Common and country-specific supply, demand and nominal shocks of each G7 country are identified, and the corresponding shock...
Persistent link: https://www.econbiz.de/10003824053
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A gains from trade perspective on macroeconomic fluctuations
Beaudry, Paul; Portier, Franck - 2012
"gains from trade" approach can easily explain why changes in perceptions about the future (including "news" about the future …
Persistent link: https://www.econbiz.de/10009424712
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Sequential identification of technological news shocks
Seymen, Atılım - 2013
news shocks. Thereby, the correlation coefficient between news shocks of a short-run identification scheme and technology … shocks of a long-run identification scheme in the VAR framework measures the extent to which news incorporated into forward … modelers as well as policy-makers, the ability of such models to recuperate structural shocks in general and news shocks in …
Persistent link: https://www.econbiz.de/10010225546
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Comparing two methods for the identification of news shocks
Beaudry, Paul; Portier, Franck; Seymen, Atılım - 2013
the role of anticipated technology-news-shocks in business cycle fluctuations. We deal with this controversy and … investigate (i) the extent to thich two prominent structural VAR approaches can be usefull in recuperating news shock dynamics …
Persistent link: https://www.econbiz.de/10010225547
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The Phillips Curve: (in)stability, the role of credit, and implications for potential output measurement
Schleer, Frauke; Kappler, Marcus - 2014
The path of output prior to the financial and economic crisis turned out to be not sustainable and lower than previously estimated in some European crisis countries. Specifically, the output gaps have been underestimated (and inversely potential output overestimated) before the recent crisis. It...
Persistent link: https://www.econbiz.de/10010416360
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The growth and human capital structure of new firms over the business cycle
Brixy, Udo; Murmann, Martin - 2016
Recent research suggests that employment in young firms is more negatively impacted during economic downturns than employment in incumbent firms. This questions the effectiveness of policies that promote entrepreneurship to fight crises. We complement prior research that is mostly based on...
Persistent link: https://www.econbiz.de/10011567399
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An information economics perspective on main bank relationships and firm R&D
Höwer, Daniel; Schmidt, Tobias; Sofka, Wolfgang - 2011
Information economics has emerged as the primary theoretical lens for framing financing decisions in firm R&D investment. Successful outcomes of R&D projects are either ex-ante impossible to predict or the information is asymmetrically distributed between inventors and investors. As a result,...
Persistent link: https://www.econbiz.de/10009270085
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Incentive regulation : evidence from German electricity networks
Hellwig, Michael; Schober, Dominik; Cabral, Luís M. B. - 2019 - This version: January 29, 2019
We propose a difference-in-differences (DiD) approach to estimate the impact of incentives on cost reduction. We show theoretically, and estimate empirically, that German electricity distribution system operators (DSOs) pile up more costs in the year used to determine future prices when subject...
Persistent link: https://www.econbiz.de/10011971656
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Incentive regulation : evidence from German electricity networks
Hellwig, Michael; Schober, Dominik; Cabral, Luís M. B. - 2018
We propose a difference-in-differences (DiD) approach to estimate the impact of incentives on cost reduction. We show theoretically, and estimate empirically, that German electricity distribution system operators (DSOs) incur higher costs when subject to a lower-powered regulation mechanism. The...
Persistent link: https://www.econbiz.de/10011795225