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Interaction between Supply and Demand Shocks in Production and Employment
den Butter, F.A.G.; Koopman, S.J. - 1997
A major aim of recent empirical modelling of the business cycle isto identify the relative importance of aggregate supply and demandshocks. Supply or technology shocks are associated with permanent(structural) effects on economic activity whereas demand shocks arerelated to temporary (cyclical)...
Persistent link: https://www.econbiz.de/10010324404
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The Labor Market in the Great Recession: An Update
Elsby, Michael W.L.; Hobijn, Bart; Sahin, Aysegul; … - 2011
Since the end of the Great Recession in mid-2009, the unemployment rate has recovered slowly, falling by only one percentage point from its peak. We find that the lackluster labor market recovery can be traced in large part to weakness in aggregate demand; only a small part seems attributable to...
Persistent link: https://www.econbiz.de/10010326190
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Testing for Asymmetry in British, German and US Unemployment Data
Kohns, Stephan - 2001
Not only the level of aggregate unemployment but also the properties of its dynamics are an important topic in macroeconomics and labor economics. Several models like e.g. matching models with endogenous job destruction explicitly predict an asymmetric pattern in the evolution of unemployment,...
Persistent link: https://www.econbiz.de/10010262548
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Expectations, monetary policy, and labor markets: lessons from the Great Depression
Reicher, Christopher Phillip - 2009
This paper estimates a series of shocks to hit the US economy during the Great Depression, using a New Keynesian model with unemployment and bargaining frictions. Shocks to long-run inflation expectations appear to account for much of the cyclical behavior of employment, while an increase in...
Persistent link: https://www.econbiz.de/10010276373
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Deutsche Wirtschaft noch in der Defensive: Aber erste Anzeichen für ein Ende des Abschwungs
Drygalla, Andrej; Exß, Franziska; Heinisch, Katja; … - In: Konjunktur aktuell 12 (2024) 2, pp. 34-90
Seit Beginn des vergangenen Jahres expandiert die Weltwirtschaft in moderatem Tempo. Allerdings gerät in den USA das … nur für die USA hat zu einem Wiederanstieg der Kapitalmarktzinsen geführt. Dagegen hat die chinesische Wirtschaftspolitik … Verbesserung des globalen Geschäftsklimas im Frühsommer schließen. Dennoch bleiben die Aussichten für die internationale Konjunktur …
Persistent link: https://www.econbiz.de/10014583755
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Deutschland in der Stagnation festgefahren: Privater Konsum weiter unter dem Niveau von vor der Pandemie
Drygalla, Andrej; Exß, Franziska; Heinisch, Katja; … - In: Konjunktur aktuell 12 (2024) 1, pp. 1-31
Zu Beginn des Jahres 2024 zeigen Stimmungsindikatoren etwas aufgehellte Aussichten für die internationale Konjunktur … erwarten sich die Anleger wohl Wachstumsimpulse von Innovationen auf dem Gebiet der Künstlichen Intelligenz. Für die USA kann … Gewerbes und industriepolitische Maßnahmen in den USA und in China, welche europäische Anbieter benachteiligen. Deutschland …
Persistent link: https://www.econbiz.de/10014583760
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Belebung in Dienstleistungsbranchen, aber zunächst weiter schwache Industriekonjunktur
Drygalla, Andrej; Exß, Franziska; Heinisch, Katja; … - In: Konjunktur aktuell 11 (2023) 2, pp. 36-65
Konjunktur im Verarbeitenden Gewerbe bleibt aber schwach. Hohe Inflation und gestiegene Leitzinsen dämpfen die Konjunktur in den …
Persistent link: https://www.econbiz.de/10014316041
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The output gap, the labor wedge, and the dynamic behavior of hours
Sala, Luca; Söderström, Ulf; Trigari, Antonella - 2010
We use a standard quantitative business cycle model with nominal price and wage rigidities to estimate two measures of economic ineffciency in recent U.S. data: the output gap - the gap between the actual and effcient levels of output - and the labor wedge - the wedge between households'...
Persistent link: https://www.econbiz.de/10010320744
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Time variation in Okun's law: A Canada and US comparison
Beaton, Kimberly - 2010
This article investigates the stability of Okun's law for Canada and the United States using a time varying parameter approach. Time variation is modeled as driftless random walks and is estimated using the median unbiased estimator approach developed by Stock and Watson (1998). Okun's law...
Persistent link: https://www.econbiz.de/10010279878
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Labor adjustment under different institutional structures : a case study of Germany and the United States
Houseman, Susan N. - 1993
Persistent link: https://www.econbiz.de/10000883899