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Macroeconomic Effects of Job Reallocations: A Survey
Gallipoli, Giovanni; Pelloni, Gianluigi - Rimini Centre for Economic Analysis (RCEA) - 2013
of aggregate unemployment in postwar data. While this range may seem wide it is an indication that the importance of …
Persistent link: https://www.econbiz.de/10010686242
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Macroeconomic Effects of Reallocation Shock: A Generalished Impulse Response Function Analysis for Three European Countries
Pelloni, Gianluigi; Panagiotidis, Theodore - In: Journal of Economic Integration 18 (2003), pp. 794-816
We develop a generalised impulse response function (GIRF) approach to explore the different impacts of aggregate and sectoral shocks within a VAR-GARCH-M model. Using the outout of our GIRF analysis, we explore the behaviour of three European countries(Gremany, Spain and the UK). We analyse the...
Persistent link: https://www.econbiz.de/10009318907
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Macroeconomic Effects of Reallocation Shocks: A generalised impulse response function analysis for three European countries
Panagiotidis, Theodore; Pelloni, Gianluigi - School of Business and Economics, Loughborough University - 2003
We develop a generalised impulse response function (GIRF) approach to explore the different impacts of aggregate and sectoral shocks within a VAR-GARCH-M model. Using the output of our GIRF analysis, we explore the behaviour of three European countries (Germany, Spain and the UK). We analyse the...
Persistent link: https://www.econbiz.de/10005007506
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Aggregate Demand, Idle Time, and Unemployment
Michaillat, Pascal; Saez, Emmanuel - W.E. Upjohn Institute for Employment Research - 2014
This paper develops a model of unemployment fluctuations. The model keeps the architecture of the Barro and Grossman … flexible to completely rigid. With some price rigidity, aggregate demand influences unemployment through a simple mechanism … thus increases labor demand, which in turn reduces unemployment. We use the comparative-statistics predictions of the model …
Persistent link: https://www.econbiz.de/10010798202
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A Lost Decade Revisited :Zombie Firms and Inefficient Labor Allocation
Tanaka, Takanori - Graduate School of Economics, Osaka University - 2006
This paper investigates why labors wouldnft be reallocated from contracting firms to expanding firms in the 1990s in Japan, focusing on the increase of zombie firms after the burst of the bubble economy. Main evidences are twofold. First, higher proportion of total industry labors by zombies...
Persistent link: https://www.econbiz.de/10005710057
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Aggregate demand, idle time, and unemployment
Michaillat, Pascal; Saez, Emmanuel - London School of Economics (LSE) - 2015
This article develops a model of unemployment fluctuations. The model keeps the architecture of the general … affects unemployment as follows. An increase in aggregate demand leads firms to find more customers. This reduces the idle … time of their employees and thus increases their labor demand. This in turn reduces unemployment. We combine the …
Persistent link: https://www.econbiz.de/10011276088
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House Prices and Consumption
Song, In Ho - Volkswirtschaftliche Fakultät, … - 2010
I study the consumption responses of heterogeneous households following changes in both house prices and interest rates. I show the common assumption that household period utility is separable in housing and consumption can be consistent with the observed co-movement between these two series...
Persistent link: https://www.econbiz.de/10008764711
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Macroeconomic Effects of Job Reallocations: A Survey
Gallipoli, G.; Pelloni, G. - Dipartimento di Scienze Economiche, Alma Mater … - 2013
of aggregate unemployment in postwar data. While this range may seem wide it is an indication that the importance of …
Persistent link: https://www.econbiz.de/10010859833
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Risk news shocks and the business cycle
Pinter, Gabor; Theodoridis, Konstantinos; Yates, Tony - Bank of England - 2013
We identify a ‘risk news' shock in a vector autoregression (VAR), modifying Barsky and Sims’s procedure, while incorporating sign restrictions to simultaneously identify monetary policy, technology and demand shocks. The VAR-identifed risk news shock is estimated to account for around 2%-12%...
Persistent link: https://www.econbiz.de/10010839036
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An inflation expectations horserace
Guzman, Giselle C. - Volkswirtschaftliche Fakultät, … - 2010
For decades, the academic literature has focused on three survey measures of expected inflation: the Livingston Survey, the Survey of Professional Forecasters, and the Michigan Survey. While these measures have been useful in developing models of forecasting inflation, the data are low frequency...
Persistent link: https://www.econbiz.de/10009647457