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News media, common information, and sectoral comovement : conference paper
Buchen, Teresa - 2014
media coverage of economic news in Germany, we find that a higher volume of economy-wide news indeed signifi cantly … of sectoral output comovement. Although firms tend to be more susceptible to bad news, the tone of media coverage only …
Persistent link: https://www.econbiz.de/10010484401
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The news media and the expectation formation of firms : conference paper
Buchen, Teresa - 2013 - Preliminary version
information that provides a coding service is the mass media. This paper investigates empirically whether the news media have an … macroeconomic news rises. Second, the news media act as an amplifi er of actual economic developments. Third, business expectations … react stronger to negative than to positive news. …
Persistent link: https://www.econbiz.de/10010338394
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Dynamics of sectoral business cycle comovement
Sandqvist, Anna Pauliina - 2015
In this paper a multivariate dynamic conditional correlation (DCC) general autoregressive conditional heteroskedasticity (GARCH) framework is employed to study dynamics of sectoral comovement across manufacturing sectors both in Germany and in the United States. Asymmetric effects both in...
Persistent link: https://www.econbiz.de/10011405571
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Firm expectations and economic activity
Enders, Zeno; Hünnekes, Franziska; Müller, Gernot J. - 2021
We assess how firm expectations about future production impact current production and pricing decisions. Our analysis is based on a large survey of firms in the German manufacturing sector. To identify the causal effect of expectations, we rely on the timing of survey responses and match firms...
Persistent link: https://www.econbiz.de/10012705462
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Time series properties of the German monthly production index
Flaig, Gebhard - 2003
The production index is an important indicator for assessing the cyclical state of the economy. Unfortunately, the monthly time series is contaminated by many noisy components like seasonal variations, calendar and vacation effects. Only part of those nuisance components are explicitly...
Persistent link: https://www.econbiz.de/10011514105
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The German manufacturing sector is a granular economy
Wagner, Joachim - 2011
Using the approach suggested by Gabaix (Econometrica 2011) this paper demonstrates that idiosyncratic shocks in the largest firms are important for an understanding of aggregate volatility in German manufacturing industries. The implications of this finding for theoretical and empirical research...
Persistent link: https://www.econbiz.de/10009519874
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The German Manufacturing Sector is a Granular Economy
Wagner, Joachim - 2011
Using the approach suggested by Gabaix (Econometrica 2011) this paper demonstrates that idiosyncratic shocks in the largest firms are important for an understanding of aggregate volatility in German manufacturing industries. The implications of this finding for theoretical and empirical research...
Persistent link: https://www.econbiz.de/10013118054
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Does Higher Firm Profit Dispersion Reflect Greater Micro Uncertainty?
Kim, Jin Yeub - 2019
Countercyclical dispersion of firm outcomes (micro dispersion) is commonly used as a proxy for micro uncertainty. In this paper, we characterize conditions under which micro dispersion and micro uncertainty co-move positively in the context of a large Cournot economy with dispersed information...
Persistent link: https://www.econbiz.de/10012898574
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Countercyclical endogenous uncertainty shocks, efficiency wages and procyclical precautionary labor productivity
Grandmont, Jean-Michel - 2017
Persistent link: https://www.econbiz.de/10012196341
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Countercyclical endogenous uncertainty shocks, efficiency wages and procyclical precautionary labor productivity
Grandmont, Jean-Michel - 2017 - Revised October 2017
Persistent link: https://www.econbiz.de/10011774730