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Persistent link: https://www.econbiz.de/10000047481
In this paper, we analyze the relationship between nominal and real GDP growth for G7 countries for the period 1971 - 2018. A visual inspection of the data indicates the presence of a threshold, above which the structure of the relationship between nominal and real GDP growth rates changes from...
Persistent link: https://www.econbiz.de/10012816136
Conditional on a contractionary monetary policy shock, the labor share of value added is expected to decrease in the basic New Keynesian model. By providing firm-level evidence, we are first to validate this proposition. Using local projections and high dimensional fixed effects, we show that a...
Persistent link: https://www.econbiz.de/10012607460
Persistent link: https://www.econbiz.de/10012211634
effects of heterogeneous productivity across firms on macroeconomic dynamics. The first model indicates that monetary policy … amplification mechanism of exogenous technology shocks based on endogenous firm entry and heterogeneous productivity. Increasing … competition after a positive shock forces less productive firms to leave the market, leading to higher a average productivity …
Persistent link: https://www.econbiz.de/10010510699
Persistent link: https://www.econbiz.de/10010409318
Conditional on a contractionary monetary policy shock, the labor share of value added is expected to decrease in the basic New Keynesian model. By providing firm-level evidence, we are first to validate this proposition. Using local projections and high dimensional fixed effects, we show that a...
Persistent link: https://www.econbiz.de/10013215164
Conditional on a contractionary monetary policy shock, the labor share of value added is expected to decrease in the basic New Keynesian model. By providing firm-level evidence, we are first to validate this proposition. Using local projections and high dimensional fixed effects, we show that a...
Persistent link: https://www.econbiz.de/10013216670
-1949 economy and the industrialization, reform, and market transition that have taken place since, the book examines … the one-child family policy, the rural economy, including agriculture and rural industrialization; industrial and …
Persistent link: https://www.econbiz.de/10003355521
Persistent link: https://www.econbiz.de/10011714344