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The effects of the saving and banking glut on the US economy

Justiniano, Alejandro; Primiceri, Giorgio E.; … - 2013

We use a quantitative equilibrium model with houses, collateralized debt, and foreign borrowing to study the impact of global imbalances on the U.S. economy in the 2000s. Our results suggest that the dynamics of foreign capital flows account for between one-fourth and one-third of the increase...

Persistent link: https://www.econbiz.de/10010333616

The effects of the saving and banking glut on the U.S. economy

Justiniano, Alejandro; Primiceri, Giorgio E.; … - 2013

We use a quantitative equilibrium model with houses, collateralized debt and foreign borrowing to study the impact of global imbalances on the U.S. economy in the 2000s. Our results suggest that the dynamics of foreign capital flows account for between one fourth and one third of the increase in...

Persistent link: https://www.econbiz.de/10010352184

The life-cycle and the business-cycle of wage risk: a cross-country comparison

Bayer, Christian; Juessen, Falko - 2009

This paper provides a cross-country comparison of life-cycle and business-cycle fluctuations in the dispersion of household-level wage innovations. We draw our inference from household panel data sets for the US, the UK, and Germany. First, we find that household characteristics explain about...

Persistent link: https://www.econbiz.de/10010271322

Contagion and the beginning of the crisis - Pre-Lehman period

Király, Júlia; Nagy, Márton; Szabó, Viktor E. - 2008

asset price rises due to sub-prime mortgage credit securitisations (the originate-and-distribute model) as well as …

Persistent link: https://www.econbiz.de/10010322410

Mortgage market maturity and homeownership inequality among young households: a five-country perspective

Bicakova, Alena; Sierminska, Eva M. - 2008

relate it to cross-country differences in mortgage market maturity. We find that aside from Italy, homeownership rates and … inequality in the four countries correspond to their mortgage take up rates and its distribution across income, reflecting the … different degree of development of their respective mortgage markets. In Italy, alternative ways of financing, such as family …

Persistent link: https://www.econbiz.de/10010276611

Piece work pay and hourly pay over the cycle

Hart, Robert A. - 2006

This paper investigates the relative cyclical behavior of the pay of piece workers and hourly paid workers. It uses a unique data set of blue-collar workers in British engineering between 1926 and 1966. The statistics are obtained from the payrolls of firms belonging to the Engineering Employers...

Persistent link: https://www.econbiz.de/10010267830

Is India's Long-Term Trend Growth Declining?

Patnaik, Ila; Pundit, Madhavi - 2014

The recent decline in gross domestic product (GDP) growth in India raised a debate about whether it is a trend or a business cycle slowdown. We observe a cyclical downturn post-global financial crisis due to external and domestic conditions. With global recovery strengthening and appropriate...

Persistent link: https://www.econbiz.de/10011432712

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

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

The role of financial frictions during the crisis: An estimated DSGE model

Merola, Rossana - 2013

After the recent banking crisis in 2008, financial market conditions have turned out to be a relevant factor for economic fluctuations. This paper provides a quantitative assessment of the impact of financial frictions on the U.S. business cycle. The analysis compares the original Smets and...

Persistent link: https://www.econbiz.de/10011506769

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