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Factor substitution and factor augmenting technical progress in the US

Klump, Rainer; McAdam, Peter; Willman, Alpo - 2004

aggregate elasticity of substitution but also for the parameters of labor and capital augmenting technical change. We find that … asymmetrical pattern where the growth of laboraugmenting technical progress is exponential, while that of capital is hyperbolic or …

Persistent link: https://www.econbiz.de/10009639421

Shocking stuff

Cantore, Cristiano; León-Ledesma, Miguel A.; McAdam, Peter - 2010

-augmentation nature of the shock, the elasticity of factor substitution, the capital income share, and the reaction of consumption. The …

Persistent link: https://www.econbiz.de/10009640511

Balance Sheet Interlinkages and Macro-Financial Risk Analysis in the Euro Area

Kavonius, Ilja Kristian; Castrén, Olli - 2009

The financial crisis has highlighted the need for models that can identify counterparty risk exposures and shock transmission processes at the systemic level. We use the euro area financial accounts (flow of funds) data to construct a sector-level network of bilateral balance sheet exposures and...

Persistent link: https://www.econbiz.de/10009640455

The output composition puzzle

Angeloni, Ignazio; Kashyap, Anil K.; Mojon, Benoît; … - 2003

We revisit recent evidence on how monetary policy affects output and prices in the U.S. and in the euro area. The response patterns to a shift in monetary policy are similar in most respects, but differ noticeably as to the composition of output changes. In the euro area investment is the...

Persistent link: https://www.econbiz.de/10009635907

Capital quality improvement and the sources of growth in the euro area

Sakellaris, Plutarchos; Vijselaar, Focco W. - 2004

Capital quality improvement is a general phenomenon. Therefore quality correction is needed in price indexes. There is … substantial evidence of biases in the official price indexes of capital equipment. We apply to euro area statistics estimates of … these biases based on US data thus deriving quality-adjusted price indexes. Adjusted for quality, productive capital stocks …

Persistent link: https://www.econbiz.de/10009639422

Financial factors in economic fluctuations

Christiano, Lawrence; Motto, Roberto; Rostagno, Massimo - 2010

We augment a standard monetary DSGE model to include a banking sector and financial markets. We fit the model to Euro Area and US data. We find that agency problems in financial contracts, liquidity constraints facing banks and shocks that alter the perception of market risk and hit financial...

Persistent link: https://www.econbiz.de/10009640348

Housing, consumption and monetary policy

Musso, Alberto; Neri, Stefano; Stracca, Livio - 2010

The paper provides a systematic empirical analysis of the role of the housing market in the macroeconomy in the US and in the euro area. First, it establishes some stylised facts concerning key variables in the housing market, such as the real house price, residential investment and mortgage...

Persistent link: https://www.econbiz.de/10009640398

Financing obstacles among euro area firms

Ferrando, Annalisa; Griesshaber, Nicolas - 2011

In this study we investigate the determinants of financing obstacles using survey data on a sample of around 5000 firms from the euro area countries. This completely new survey – started at the end of 2009 - gives us the opportunity to test whether firm characteristics such as size, age,...

Persistent link: https://www.econbiz.de/10009640626

Screening report Serbia : Chapter 4 – Free movement of capital

Europäische Kommission - 2016

Persistent link: https://www.econbiz.de/10012036349

Effects of ICT capital on economic growth

European Commission / Enterprise and Industry … - 2006

Persistent link: https://www.econbiz.de/10009637765