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The Clinton era and the U.S. business cycle : what did change?

Heilemann, Ullrich; Münch, Heinz Josef - 2005

The 1990s were the most prosperous decade in U.S. economic history. The paper analyses to which extent this period fits into preceding cyclical experience. This is done by classifying the period 1991-12 to 2000-12 with the help of a 4-phase classification scheme based on multivariate...

Persistent link: https://www.econbiz.de/10010296674

Healthy Living in Hard Times

Ruhm, Christopher J. - 2003

Using microdata for adults from the 1987-2000 years of the Behavioral Risk Factor Surveillance System, I show that smoking and height-adjusted weight decline during temporary economic downturns while leisure-time physical activity rises. The drop in tobacco use occurs disproportionately among...

Persistent link: https://www.econbiz.de/10010262072

The Microeconomics of Macroeconomic Asymmetries : Sectoral Driving Forces and Firm Level Characteristics

Korenok, Oleg; Mizrach, Bruce; Radchenko, Stanislav - 2004

There is now considerable evidence that business cycle variation in output and employment in the U.S. differs in expansions and contractions. We present nonparametric evidence that asymmetries are strongest in durable goods manufacturing. In a Markov switching framework, we find two leading...

Persistent link: https://www.econbiz.de/10010263225

Real wages and business cycle asymmetries

Woitek, Ulrich - 2004

The cyclicality of real wages has important implications for the validity of competing business cycle theories. However, the empirical evidence on the aggregate level is inconclusive. Using a threshold vector autoregressive model for the US and Germany to condition the relationship between real...

Persistent link: https://www.econbiz.de/10010261205

The Norwegian productivity puzzle - not so puzzling after all?

von Brasch, Thomas - 2015

The Norwegian productivity puzzle is rooted in three seemingly contradictory "facts": First, Norway is one of the most productive OECD countries. Second, Norway has experienced high growth in productivity. Third, Norway has a relatively low level of R&D intensity. In this article, I show that...

Persistent link: https://www.econbiz.de/10011968566

Productivity in New Zealand 1988 to 2002

Black, Melleny; Guy, Melody; McLellan, Nathan - 2003

This paper reports new aggregate and industry productivity series for the New Zealand economy for the period 1988 to 2002. These productivity series are intended for ongoing monitoring of New Zealand's productivity performance and for use in further analyses investigating the evolution, sources...

Persistent link: https://www.econbiz.de/10012115523

Growth, volatility and political instability: non-linear time-series evidence for Argentina, 1896 - 2000

Campos, Nauro F.; Karanasos, Menelaos G. - 2007

What is the relationship between economic growth and its volatility? Does political instability affect growth directly … or indirectly, through volatility? This paper tries to answer such questions using a power-ARCH framework with annual … legislative changes) has an indirect (through volatility) negative impact. We also find preliminary support for the idea that …

Persistent link: https://www.econbiz.de/10010268236

The Impact of Macroeconomic Uncertainty on Cash Holdings for Non-Financial Firms

Talavera, Oleksandr; Ozkan, Neslihan; Caglayan, Mustafa; … - 2004

This paper investigates the effects of macroeconomic volatility on nonfinancial firms cash holding behavior. Using an … augmented cash bufferstock model, we demonstrate that an increase in macroeconomic volatility will cause the crosssectional …

Persistent link: https://www.econbiz.de/10010297326

The Role of Permanent and Transitory Components in Business Cycle Volatility Moderation

Korenok, Oleg; Radchenko, Stanislav - 2004

The paper examines the processes underlying economic fluctuations by investigating the volatility moderation of U ….S. economy in the early 1980's. We decompose the volatility decline using a dynamic factor framework into a common stochastic …

Persistent link: https://www.econbiz.de/10010263232

The Impact of Macroeconomic Uncertainty on Cash Holdings for Non-Financial Firms

Talavera, Oleksandr; Ozkan, Neslihan; Caglayan, Mustafa; … - 2004

This paper investigates the effects of macroeconomic volatility on non-financial firms' cash holding behavior. Using an … augmented cash buffer-stock model, we demonstrate that an increase in macroeconomic volatility will cause the cross …

Persistent link: https://www.econbiz.de/10010260684