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Aggregate Stability and Balanced-Budget Rules

Ghilardi, Matteo; Rossi, Raffaele - International Monetary Fund (IMF) - 2014

It has been shown that under perfect competition and a Cobb-Douglas production function, a basic real business cycle model may exhibit indeterminacy and sunspot fluctuations when income tax rates are determined by a balanced-budget rule. This paper introduces in an otherwise standard real...

Persistent link: https://www.econbiz.de/10010790380

Unemployment Insurance and the Business Cycle: What Adjustments are Needed?

Schwartz, Jeremy - EcoMod Network - 2012

putting upward pressure on wages. Despite the large costs of these programs the literature has yet to fully explore whether … benefit amount. The lower benefit amount allows wages to fall in recessions, reducing labor costs and encouraging job creation … in expansions. This again allows wages to adjust downward. After two months of unemployment, UI benefits are more …

Persistent link: https://www.econbiz.de/10010886623

An Empirical Study on Wage and Price Stickines in the US Economy (1990-2009)

Baştav, Leyla; Baştav, Leyla - EcoMod Network - 2011

, nominal wages and real wages with the explanatory variables of lagged prices, real GNP growth over trend, nominal GNP growth …

Persistent link: https://www.econbiz.de/10010902814

Estimating the Effect of the Age Distribution on Cyclical Output Volatility Across the United States

Lugauer, Steven - In: The Review of Economics and Statistics 94 (2012) 4, pp. 896-902

I exploit the variation in demographic change across the United States to estimate the relationship between the age distribution in the population and the magnitude of cyclical output volatility. According to panel regression estimates, the relative supply of young workers, or youth share, has a...

Persistent link: https://www.econbiz.de/10011009923

Measuring fiscal stance for the United Kingdom, 1920-1990

van der Eng, Pierre - Volkswirtschaftliche Fakultät, … - 1992

The purpose of this paper is twofold. First, it presents a very concise way of measuring fiscal stance. This procedure is based on the assumption that the ‘neutral change’ in the government budget can best be simulated with a long-term approximation of the underlying trend of total output....

Persistent link: https://www.econbiz.de/10011258592

John Maynard Keynes: Is That you Knocking on the Door?

Kowalski, Tadeusz; Shachmurove, Yochanan - Zakład Ekonometrii Stosowanej, Szkoła Główna … - 2011

This paper provides an overview of the evolution of macroeconomic thought from 1936, the year John Maynard Keynes published his general theory of employment, interest and money to the year 2010. It explores the reasons for the extension of the business cycle during the postwar period. The paper...

Persistent link: https://www.econbiz.de/10009293018

Business Cycles, Core, and Periphery in Monetary Unions: Comparing Europe and North America

Ferreira-Lopes, Alexandra; Pina, Álvaro - In: Open Economies Review 22 (2011) 4, pp. 565-592

Persistent link: https://www.econbiz.de/10009327485

Synchronization between the business cycles of Mexico and the United States. New evidence from the analysis of regional coincident indexes

Delajara, Marcelo - Banco de México - 2012

In this paper we analyze the synchronization between the business cycles of US and Mexican regions. Regional economic activity in Mexico is measured using regional coincident indexes recently developed at Banco de México, while US aggregate economic activity is measured with the national...

Persistent link: https://www.econbiz.de/10010550237

Macroeconomic fluctuations and motorcycle fatalities in the U.S.

French, Michael T.; Gumus, Gulcin - In: Social Science & Medicine 104 (2014) C, pp. 187-193

The effects of business cycles on health outcomes in general, and on traffic fatalities in particular, have received much attention recently. In this paper, we focus on motorcycle safety and examine the impact of changing levels of economic activity on fatal crashes by motorcyclists in the...

Persistent link: https://www.econbiz.de/10010753078

Analogous Cycles with Lagged Co-movement: U.S. and East Asian Business Cycles

Yamagata, Tatsufumi - In: The Developing Economies 36 (1998) 4, pp. 407-439

In selected East Asian economies, the behavior of detrended macroeconomic variables was found to be similar to that observed in the postwar U.S. economy. Consumption and investment are highly procyclical while the balance of trade and the price level are counter-cyclical in most of them. Labor...

Persistent link: https://www.econbiz.de/10005534171