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The knowledge economy in Europe: A review of the 2009 EIB Conference in Economics and Finance
Uppenberg, Kristian - 2010
This overview discusses some key findings of the papers presented at the conference and draws some policy conclusions from them in the context of the broader literature. The papers and the wider academic discussion are sorted into three broad groups. The first looks at macroeconomic issues: The...
Persistent link: https://www.econbiz.de/10010330196
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Are business cycles all alike? A bandmass filter analysis of Italian and US cycles
Napoletano, Mauro; Roventini, Andrea; Sapio, Sandro - 2005
In this paper, we perform an empirical comparison of Italian and US business cycles. After filtering the time series of the main macroeconomic variables of the two countries, through an approximate bandpass filter, we analyze the cross-correlations between each filtered variable and the filtered...
Persistent link: https://www.econbiz.de/10010328535
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Families in Macroeconomics
Doepke, Matthias; Tertilt, Michèle - 2016
Much of macroeconomics is concerned with the allocation of physical capital, human capital, and labor over time and across people. The decisions on savings, education, and labor supply that generate these variables are made within families. Yet the family (and decision-making in families) is...
Persistent link: https://www.econbiz.de/10011479320
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Macroeconomic fluctuations in Europe: demand or supply, permanent or temporary?
Hartley, Peter R.; Joseph A. Whitt, Jr. - 1997
We use generalized method of moments to estimate a rational expectations aggregate demand-aggregate supply macroeconomic model for five European economies. Our aim is to examine whether supply or demand shocks have predominated in the major European economies during the post-war era and whether...
Persistent link: https://www.econbiz.de/10010397376
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Are labor unions important for business cycle fluctuations? Lessons from Bulgaria
Vasilev, Aleksandar - In: Eurasian Economic Review 10 (2019) 1, pp. 143–161
In this paper we investigate the quantitative importance of collective bargaining agreements for the observed fluctuations in Bulgarian labor markets. Following Maffezzoli (2001), we introduce a monopoly union into a real-business-cycle model with government sector. We calibrate the model to...
Persistent link: https://www.econbiz.de/10012063425
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Are labor unions important for business cycle fluctuations: lessons from Bulgaria (1999-2016)
Vasilev, Aleksandar - 2019
In this paper we investigate the quantitative importance of collective agreements in explaining uctuations in Bulgarian labor markets. Following Maffezzoli (2001), we introduce a monopoly union in a real-business-cycle model with government sector. We calibrate the model to Bulgarian data for...
Persistent link: https://www.econbiz.de/10011955880
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Search and matching frictions and business cycle fluctuations in Bulgaria
Vasilev, Aleksandar - In: International Journal of Business and Economics 19 (2020) 3, pp. 319-340
In this paper we investigate the quantitative importance of search and matching frictions in Bulgarian labor markets. This is done by augmenting an otherwise standard real business cycle model a la Long and Plosser (1983) with both a two-sided costly search and fiscal policy. This introduces a...
Persistent link: https://www.econbiz.de/10012434873
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On the (de)stabilizing effects of news shocks
Winkler, Roland C.; Wohltmann, Hans-Werner - 2009
This paper analyzes the impacts of news shocks on macroeconomic volatility. Whereas in any purely forward-looking model …, such as the baseline New Keynesian model, anticipation amplifies volatility, we obtain ambiguous results when including a …) to provide numerical evidence that news shocks increase the volatility of key macroeconomic variables in the euro area …
Persistent link: https://www.econbiz.de/10010298830
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Countercyclical Recruiting Rates and the Value of Jobs
Yashiv, Eran - 2015
productivity and the forward-looking concept of job value. The paper explains the high volatility of firm recruiting behavior, as …
Persistent link: https://www.econbiz.de/10011401640
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Volatility and Growth: Governments are Key
Jetter, Michael - 2013
paper offers a solution to this disagreement, suggesting that volatility carries a positive direct effect, but also a … volatility is then ambiguous. The paper reveals the underlying endogeneity of government size in a balanced panel of 95 countries … increase of volatility lowers growth by up to 0.57 percentage points in a democracy, but raises growth by 1.74 percentage …
Persistent link: https://www.econbiz.de/10010328920