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The household sector financial balance, financing gap, financial markets, and economic cycles in the US economy : a structural VAR analysis
Casadio, Paolo; Paradiso, Antonio - 2010
This paper investigates private net saving in the US economy - divided into its principal components, households and (nonfinancial) corporate financial balances - and its impact on the GDP cycle from the 1980s to the present. Furthermore, we investigate whether the financial markets (stock...
Persistent link: https://www.econbiz.de/10008758823
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Household Sector Financial Balance, Financing Gap, Financial Markets, and Economic Cycle in the US Economy : A Structural VAR Analysis
Casadio, Paolo - 2010
This paper investigates private net saving in the US economy - divided into its principal components, households and (nonfinancial) corporate financial balances - and its impact on the GDP cycle from the 1980s to the present. Furthermore, we investigate whether the financial markets (stock...
Persistent link: https://www.econbiz.de/10013136368
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Risk News Shocks and the Business Cycle
Pinter, Gabor - 2014
impulse responses and find that, in order to match the fall in consumption recorded by the VAR, we have to allow for 75% of …
Persistent link: https://www.econbiz.de/10013061670
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Business cycle accounting for the German fiscal stimulus program during the Great Recession
Fehrle, Daniel; Huber, Johannes A. - 2020
wedges to the variables government consumption, durables, investment, labor, net exports, and efficiency. The results suggest … consumption wedge and in particular the durables wedge acted counter-cyclical. We attribute the latter to an internationally … government consumption. We introduce a strategy for likelihood maximization, which reliably and quickly locates the maximum …
Persistent link: https://www.econbiz.de/10012253072
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Likelihood-ratio-based confidence sets for the timing of structural breaks
Eo, Yunjong; Morley, James C. - In: Quantitative economics : QE ; journal of the … 6 (2015) 2, pp. 463-497
sample size or magnitude of a break is small. An application to postwar U.S. real gross domestic product and consumption … literature. Furthermore, when taking co-integration between output and consumption into account, confidence sets for structural …
Persistent link: https://www.econbiz.de/10011757721
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Identifying key macroeconomic shocks to Canadian GDP
Sayeed, Jamil - 2020
This paper seeks to identify the largest two shocks that can explain the movement in Canadian GDP for the period 1981Q1 to 2011Q4. I employ a very flexible identification method proposed by Uhlig (2003) that allows us to identify the key shocks from the time series data without imposing any...
Persistent link: https://www.econbiz.de/10012437729
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Business cycle accounting for the German fiscal stimulus program during the Great Recession
Fehrle, Daniel; Huber, Johannes - 2020
wedges to the variables government consumption, durables, investment, labor, net exports, and efficiency. The results suggest … consumption wedge and in particular the durables wedge acted counter-cyclical. We attribute the latter to an internationally … government consumption. We introduce a strategy for likelihood maximization, which reliably and quickly locates the maximum …
Persistent link: https://www.econbiz.de/10012236598
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Trend und Zyklus im Bruttoinlandsprodukt der Bundesrepublik Deutschland - eine Anmerkung
Meier, Carsten-Patrick - 2000
This note shows that German real GDP follows a trend-stationary process. Both tests which have trend-stationarity as …
Persistent link: https://www.econbiz.de/10010265453
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Trend und Zyklus im Bruttoinlandsprodukt der Bundesrepublik Deutschland : eine Anmerkung
Meier, Carsten-Patrick - 2000
This note shows that German real GDP follows a trend-stationary process. Both tests which have trend-stationarity as …
Persistent link: https://www.econbiz.de/10011495591
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Sectoral trends and cycles in Germany
Cheung, Yin-Wong; Westermann, Frank - 2001
We examine the comovements between the output indexes of three German sectors (manufacturing, mining, and agriculture) and the three corresponding sectoral stock market indexes. It is found that data with and without seasonal adjustment give mixed results on the long-run interaction between the...
Persistent link: https://www.econbiz.de/10011398919