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behaviour of trade unions? To approach these questions theoretical as well as empirical methods were used. The empirical methods …
Persistent link: https://www.econbiz.de/10011148812
This Selected Issues paper for Chile describes the postcrisis recovery experience. The recovery from the 2008–2009 global crisis has been markedly different both among advanced and emerging economies. The steady improvement in the labor wedge-distortions related to the consumption leisure...
Persistent link: https://www.econbiz.de/10011243850
monetary policy. Since expectations affect demand, our theory shows economic fluctuations are mostly driven by varying demand …
Persistent link: https://www.econbiz.de/10010986484
We examine the relationship between institutions, culture and cyclical fluctuations for a sample of 45 European, Middle Eastern and North African countries. Better governance is associated with shorter and less severe contractions and milder expansions. Certain cultural traits, such as lack of...
Persistent link: https://www.econbiz.de/10010849590
We examine sentiment variables as new predictors for US recessions. We combine sentiment variables with either classical recession predictors or with common factors based on a large panel of macroeconomic and ?nancial variables. Sentiment variables hold vast predictive power for US recessions in...
Persistent link: https://www.econbiz.de/10010851274
The contribution of the present paper is twofold. First, we show that in a situation where agents can only observe a noisy signal of the shock to future economic fundamentals, the "noisy news", SVAR models can still be successfully employed to estimate the shock and the associated impulse...
Persistent link: https://www.econbiz.de/10010851316
The present paper describes recent research on two central themes of Keynes' General Theory: (i) the social waste …
Persistent link: https://www.econbiz.de/10010851433
We study whether labor market institutions affect the volatility and correlations of macroeconomic variables for a sample of 20 OECD countries. Labor market rigidities are characterized with a number of indicators; volatilities and correlations are computed in several ways. Union coverage and...
Persistent link: https://www.econbiz.de/10010851478
This paper examines the issue of international synchronization of cycles. Using spectral methods we analyze the pattern of co-movement (coherences) of growth rate cycles between countries across frequency bands and overtime. We also examine the lead-lag structure (phase shifts) of country cycles...
Persistent link: https://www.econbiz.de/10010857292
The synchronization of business cycles represents one of the conditions that countries have to fulfil to become part of an optimum currency area, as well as a condition for the efficient implementation of a common economicpolicy in these countries. This paper examines the extent to which Serbia...
Persistent link: https://www.econbiz.de/10010857993