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Persistent link: https://www.econbiz.de/10004568545
can help to predict turning points of the German business cycle. The models were estimated for the in-sample period 1978 …
Persistent link: https://www.econbiz.de/10005668440
The collapse of the global economy in 2008, following the outbreak of the financial crisis, and the ensuing economic developments of the so-called Great Recession (GR) led many economists to suggest that the Great Moderation (GM) had, indeed, come to an end. This paper offers evidence that the...
Persistent link: https://www.econbiz.de/10011083709
Abstract: Both global and regional economic linkages have strengthened substantially over the past quarter century. We employ a dynamic factor model to analyze the implications of these linkages for the evolution of global and regional business cycles. Our model allows us to assess the roles...
Persistent link: https://www.econbiz.de/10011142006
The appreciation of the dollar in the aftermath of the euro launch came as a surprise to most observers; furthermore, the traditional models fail to capture its dynamics. Is this a confirmation of Mussa's, Meese's and Rogoff's results, according to which no structural model can perform better...
Persistent link: https://www.econbiz.de/10010854262
. The relative magnitude of this effect varies with the business cycle, being stronger during economic expansions and weaker …
Persistent link: https://www.econbiz.de/10010547738
Recently, a new class of macroeconomic business cycle models has emerged. Stochastic dynamic general equilibrium models … competition traditionally highlighted by New Keynesian economists. This class of models leads to a new paradigm in business cycle …
Persistent link: https://www.econbiz.de/10010752473
to move up and down with the business cycle, allowing for accumulation of capital in boom periods. Provisioning for … credit losses rise when the cycle falls, but less so when net income of banks is relatively high, which reduces … procyclicality. Lending fluctuates with the business cycle too, but appears to be driven by demand rather than by supply factors such …
Persistent link: https://www.econbiz.de/10010752485
Recently, a new class of macroeconomic business cycle models has emerged. Stochastic dynamic general equilibrium models … competition traditionally highlighted by New Keynesian economists. This class of models leads to a new paradigm in business cycle …
Persistent link: https://www.econbiz.de/10010752515
to move up and down with the business cycle, allowing for accumulation of capital in boom periods. Provisioning for … credit losses rise when the cycle falls, but less so when net income of banks is relatively high, which reduces … procyclicality. Lending fluctuates with the business cycle too, but appears to be driven by demand rather than by supply factors such …
Persistent link: https://www.econbiz.de/10010752531