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What does a technology shock do? A VAR analysis with model-based sign restrictions
Dedola, Luca; Neri, Stefano - 2006
, with both real and nominal frictions, and with sufficiently wide ranges for their parameterers. This identification …
Persistent link: https://www.econbiz.de/10011604751
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A note on information flows and identification of news shocks models
Sorge, Marco M. - 2013
This note points out a hitherto unrecognised identification issue in a class of rational expectations (RE) models with … identification failure is illustrated with a New Keynesian model that can be solved analytically. …
Persistent link: https://www.econbiz.de/10011527087
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Secular stagnation, financial frictions, and land prices
Cai, Zhifeng - In: Journal of monetary economics 124 (2021), pp. 66-90
Persistent link: https://www.econbiz.de/10013274270
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The Own and Social Effects of an Unexpected Income Shock
Kuhn, Peter; Kooreman, Peter; Soetevent, Adriaan R.; … - 2008
Each week, the Dutch Postcode Lottery (PCL) randomly selects a postal code, and distributes cash and a new BMWto lottery participants in that code. We study the effects of these shocks on lottery winners and their neighbors.Consistent with the life-cycle hypothesis, the effects on winners’...
Persistent link: https://www.econbiz.de/10010325666
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The own and social effects of an unexpected income shock
Kuhn, Peter Joseph; Kooreman, Peter; Soetevent, Adriaan R. - 2010 - Rev. May 5, 2010
Each week, the Dutch Postcode Lottery (PCL) randomly selects a postal code, and distributes cash and a new BMWto lottery participants in that code. We study the effects of these shocks on lottery winners and their neighbors.Consistent with the life-cycle hypothesis, the effects on winners’...
Persistent link: https://www.econbiz.de/10011374379
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A Test of the 'Krugman Hypothesis' for the United States, Britain, and Western Germany
Puhani, Patrick A. - 2003
Rising wage inequality in the U.S. and Britain (especially in the 1980s) and rising continental European unemployment (with rather stable wage inequality) have led to a popular view in the economics profession that these two phenomena are related to negative relative demand shocks against the...
Persistent link: https://www.econbiz.de/10010297281
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Wage rigidities in Western Germany? Microeconometric evidence from the 1990s
Puhani, Patrick A. - 2001
This paper investigates whether and in what sense the west German wage structure has been ?rigid? in the 1990s. To test the hypothesis that a rigid wage structure has been responsible for rising low-skilled unemployment, I propose a methodology which makes less restrictive identifying...
Persistent link: https://www.econbiz.de/10010297774
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Estimating the immediate impact of monetary policy shocks on the exchange rate and other asset prices in Hungary
Rezessy, András - 2005
. The endogeneity problem is treated with the method of identification through heteroskedasticity as described by Rigobon …
Persistent link: https://www.econbiz.de/10010322405
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Estimating the effect of Hungarian monetary policy within a structural VAR framework
Vonnák, Balázs - 2005
Hungarian data. I compare two identification approaches. One of them involves the ‘sign restrictions on impulse responses … history. My argument is that in certain cases, especially in the case of the Hungarian economy, the latter identification … identification approaches produced very similar results, imposing restrictions on history may help to dampen counterintuitive …
Persistent link: https://www.econbiz.de/10010322447
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What are the Effects of Monetary Policy Shocks? Evidence from Dollarized Countries
Willems, Tim - 2010
Traditional ways of analyzing the effects of monetary policy shocks via structural vector autoregressions require the use of unrealistic identifying assumptions: they either do not allow for a response of output and prices on impact of the shock, or they exclude contemporaneous values of these...
Persistent link: https://www.econbiz.de/10010325927