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This paper provides evidence for the impact of technology, labor supply, monetary policy and aggregate spending shocks on hours worked in the Euro area. The evidence is based on a vector autoregression identified using sign restrictions that are consistent with both sticky price and real...
Persistent link: https://www.econbiz.de/10013319326
autoregres-sion (SVAR) framework, that, in response to an adverse financial shock, tangible in-vestment falls more than … intangible investment. This positive co-movement betweentangible and intangible investment as well as the relative resilience of … intangibleinvestment pose a challenge for the theoretical model. We show that investment-specific adjustment costs help in reconciling the …
Persistent link: https://www.econbiz.de/10012826228
autoregres-sion (SVAR) framework, that, in response to an adverse financial shock, tangible in-vestment falls more than … intangible investment. This positive co-movement betweentangible and intangible investment as well as the relative resilience of … intangibleinvestment pose a challenge for the theoretical model. We show that investment-specific adjustment costs help in reconciling the …
Persistent link: https://www.econbiz.de/10012256498
key variables to a permanent technology shock and their structural VAR counterparts. In a second step, we conduct a …
Persistent link: https://www.econbiz.de/10013136225
Persistent link: https://www.econbiz.de/10003835623
Persistent link: https://www.econbiz.de/10003854125
is the most important driver of the European Great Recession and that this adverse shock persists throughout our sample …
Persistent link: https://www.econbiz.de/10011530229
leads to a decline in domestic interest rates relative to world interest rates and to a reduction in investment growth …
Persistent link: https://www.econbiz.de/10012055479
leads to a decline in domestic interest rates relative to world interest rates and to a reduction in investment growth …
Persistent link: https://www.econbiz.de/10012863988
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 backward-looking component. In addition to these...
Persistent link: https://www.econbiz.de/10003870635