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Animal spirits, the stock market, and the unemployment rate : some evidence for German data
Fritsche, Ulrich; Pierdzioch, Christian - 2016 - First version: January 2016
", stock-market fluctuations should Granger cause fluctuations of the unemployment rate. We performed several Granger … (2015) for U.S. data, we found that the stock market Granger causes unemployment in the short run and the long run when we … control for a deterministic trend in the unemployment rate. Results of a frequency-domain test show that, in the short run …
Persistent link: https://www.econbiz.de/10011415821
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Institutions and structural unemployment : do capital-market imperfections matter?
Belke, Ansgar; Fehn, Rainer - 2001
producing employment growth and in reducing unemployment than most continental-European OECD-countries. It is argued that the …
Persistent link: https://www.econbiz.de/10011398923
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Structural unemployment and real wage rigidity in Germany
Paqué, Karl-Heinz - 1999
Persistent link: https://www.econbiz.de/10001399049
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[Rezension von: Paqué, Karl-Heinz, Structural unemployment and real wage rigidity in Germany]
Robson, Martin T. - In: The economic journal : the journal of the Royal … 111 (2001), pp. F495-497
Persistent link: https://www.econbiz.de/10001603993
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Interest rate rules, rigidities and inflation risks in a macro-finance model
Horváth, Roman; Kaszab, Lorant; Mars, Ales - 2021
Long-term bond yields contain a risk-premium, an important part of which is compensation for inflation risks. The substantial increase in the Fed funds rate in the mid-2000s did not raise long-term US Treasury yields due to the reduction in the term premium (so-called Greenspan conundrum) which...
Persistent link: https://www.econbiz.de/10012584286
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The EAGLE model for Hungary : a global perspective
Békesi, László; Kaszab, Lóránt; Szentmihályi, Szabolcs - 2017
In this paper we adopt the Hungarian version of the EAGLE (Euro Area GLobal Economy) model. The version of the EAGLE model used in this paper allows for the high import content of export - a typical feature of small open economies such as Hungary. We study the effects of four globally important...
Persistent link: https://www.econbiz.de/10011674240
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Downward Nominal Wage Rigidity and Optimal Inflation Target
Aktug, Emrehan - 2023
I investigate the welfare maximizing steady-state inflation rate in a heterogeneous-agent New Keynesian model with Downward Nominal Wage Rigidity (DNWR). After matching the annual wage change distribution in the U.S., I show that DNWR has a very significant impact on the economy when the...
Persistent link: https://www.econbiz.de/10014257264
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How cyclical is the user cost of labor?
Kudlyak, Marianna - 2024
In employment relationships, a wage is an installment payment on an implicit long-term agreement between a worker and a firm. The price of labor that impacts firm's hiring decisions, instead, reflects the hiring wage as well as the impact of economic conditions at the time of hiring on future...
Persistent link: https://www.econbiz.de/10014507553
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Estimation and forecasting using mixed-frequency DSGE models
Meyer-Gohde, Alexander; Shabalina, Ekaterina - 2022
In this paper, we propose a new method to forecast macroeconomic variables that combines two existing approaches to mixed-frequency data in DSGE models. The first existing approach estimates the DSGE model in a quarterly frequency and uses higher frequency auxiliary data only for forecasting...
Persistent link: https://www.econbiz.de/10013471326
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Flexible Prices and Leverage
D'Acunto, Francesco - 2017
The frequency with which firms adjust output prices is an important determinant of persistent differences in capital structure across firms. The most flexible-price firms have a 19% higher long-term financial leverage ratio than the most sticky-price firms, controlling for known determinants of...
Persistent link: https://www.econbiz.de/10012970598