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Do large recessions reduce output permanently? : conference paper

Hosseinkouchack, Mehdi; Wolters, Maik H. - 2013

lower real GDP permanently or whether we can expect a rebound to earlier trend levels. Using a recent quantile … autoregression unit root test we check whether shocks to real GDP have permanent or temporary effects. In contrast to earlier studies … root hypothesis at the conditional mean of GDP, but also in the tails of the distribution where the lower tail corresponds …

Persistent link: https://www.econbiz.de/10010340611

Trends and cycles in macro series : the case of US real GDP

Caporale, Guglielmo Maria; Gil-Alaña, Luis A. - 2017

macro series, namely annual and quarterly real GDP and GDP per capita. The results indicate that the behaviour of US GDP can …

Persistent link: https://www.econbiz.de/10011750067

Trends and cycles in macro series : the case of US real GDP

Caporale, Guglielmo Maria; Gil-Alaña, Luis A. - 2017

macro series, namely annual and quarterly real GDP and GDP per capita. The results indicate that the behaviour of US GDP can …

Persistent link: https://www.econbiz.de/10011746636

Extensive versus intensive margin over the business cycle : new evidence for Germany and the United States

Herzog-Stein, Alexander; Nüß, Patrick - 2016

This article analyses the relevance of the extensive and the intensive margin of labour adjustment over the business cycle in Germany and in the United States. Previous research has found that, firstly, the extensive margin dominates and that, secondly, the relative relevance of the two margins...

Persistent link: https://www.econbiz.de/10011433362

Detecting unemployment hysteresis : a simultaneous unobserved components model with Markov switching

Klinger, Sabine; Weber, Enzo - 2015

Wir konstruieren ein neues Modell unbeobachteter Komponenten mit Markov-Switching zur Analyse von Hysterese-Effekten, also der Verfestigung ursprünglich zyklischer Fluktuationen. Das Modell kombiniert die Bestandteile einer Trend-Zyklus Zerlegung, der Identifikation von gegenseitigen...

Persistent link: https://www.econbiz.de/10011372431

Business cycles, unemployment and entrepreneurial entry : evidence from Germany

Fritsch, Michael; Kritikos, Alexander; Pijnenburg, Katharina - 2013

We investigate whether people are more willing to become self-employed during boom periods or during recessions and to what extent business cycles or unemployment levels influence entries into entrepreneurship. Our analysis for Germany reveals that there is a positive relationship between...

Persistent link: https://www.econbiz.de/10010229512

A competitive model of worker replacement and wage rigidity

Snell, Andy; Thomas, Jonathan P.; Wang, Zhewei - 2014

We adapt the models of Menzio and Moen (2010) and Snell and Thomas (2010) to consider a labour market in which firms can commit to wage contracts but cannot commit not to replace incumbent workers. Workers are risk averse, so that there exists an incentive for firms to smooth wages. Real wages...

Persistent link: https://www.econbiz.de/10010237280

Why is old workers' labor market more volatile? : unemployment fluctuations over the life-cycle

Hairault, Jean-Olivier; Langot, François; Sopraseuth, … - 2014

Since the last recession, it is usually argued that older workers are less affected by the economic downturn because their unemployment rate rose less than the one of prime-age workers. This view is a myth: older workers are more sensitive to the business cycle. We document volatilities of...

Persistent link: https://www.econbiz.de/10010339640

Transitions to stable and unstable jobs before and during the crisis

García, Amparo Nagore; Soest, Arthur van - 2014

Using administrative records data from Spanish Social Security, we analyse the pattern and the determinants of individual unemployment benefit spell durations. We compare a period of expansion (2005-2007) and the recent recession (2009-2011), allowing us to determine the impact of the current...

Persistent link: https://www.econbiz.de/10010345541

Kaiser, Ulrich; Voß, Katrin - 1999

In an a priori view, it is usually assumed that the business cycle of manufacturing industries leads the business cycle of the service sector. This seems to be even more plausible for the relationship between business-related services, whose high growth rates in recent years were largely due to...

Persistent link: https://www.econbiz.de/10011442943

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