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Firm entry and exit during recessions
Ayres, Joao; Raveendranathan, Gajendran - 2021
We analyze shocks to productivity, collateral constraint (credit shock), firm operation, and labor disutility in a model of firm dynamics with entry and exit. Shocks to firm operation and labor disutility capture COVID-19 lockdowns. Compared to the productivity shock, the credit and the lockdown...
Persistent link: https://www.econbiz.de/10012583735
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Firm heterogeneity and regional business cycles differentials
Basile, Roberto; De Nardis, Sergio; Pappalardo, Carmine - 2012
This study represents a first attempt to empirically analyze the role of firm heterogeneity in regional business cycle behaviour. Working with monthly Italy's firms data and estimating a random effects ordered probit model, we first document sizable asymmetries in Northern and Southern firms...
Persistent link: https://www.econbiz.de/10011522570
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The Business Cycle, Macroeconomic Shocks and the Cross Section : The Growth of UK Quoted Companies
Higson, Chris; Holly, Sean; Kattuman, Paul; Platis, S. - 2003
In this paper we provide a new dimension to business cycle analysis, going beyond the traditional focus on the co-movements and correlations in macroeconomic aggregates. We bring to light a significant form of firm level heterogeneity over the business cycle. We analyse the responsiveness of...
Persistent link: https://www.econbiz.de/10014089082
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Technology shocks and the labour-input response : evidence from firm-level data
Carlsson, Mikael (contributor); Smedsaas, Jon (contributor) - 2006
We study the relationship between technology shocks and labor input on Swedish firm-level data using a production … function approach to identify technology shocks. Taking standard steps yields a contractionary contemporaneous labor …-level rigidities. -- Technology Shocks ; Labor Input ; Business Fluctuations ; Micro Data …
Persistent link: https://www.econbiz.de/10003325476
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Technology shocks and aggregate fluctuations in an estimated hybrid RBC model
Malley, James R.; Woitek, Ulrich - 2009
technology shocks in explaining aggregate fluctuations. To this end we estimate the model's posterior density using Markov …
Persistent link: https://www.econbiz.de/10003833344
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Business cycle effects of credit and technology shocks in a DSGE model with firm defaults
Pesaran, M. Hashem; Xu, TengTeng - 2011
This paper proposes a theoretical framework to analyze the impacts of credit and technology shocks on business cycle … different realizations of firm specific technology shocks, possibly leading to default by some firms. The paper advances a new … financial institutions in the transmission of credit and technology shocks to the real economy. A positive credit shock, defined …
Persistent link: https://www.econbiz.de/10009312180
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Business cycle effects of credit and technology shocks in a DSGE model with firm defaults
Pesaran, M. Hashem; Xu, TengTeng - 2011
This paper proposes a theoretical framework to analyze the impacts of credit and technology shocks on business cycle … different realizations of firm specific technology shocks, possible leading to default by some firms. The paper advances a new … financial institutions in the transmission of credit and technology shocks to the real economy. A positive credit shock, defined …
Persistent link: https://www.econbiz.de/10009488413
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New evidence, old puzzles : technology shocks and labor market dynamics
Balleer, Almut - 2009
interpreted as technology shocks. I estimate different types of technology shocks from structural VARs and reassess the empirical … performance of the standard model based on second moments that are conditional on technology shocks. Most prominently, the model … model lacks non-technological disturbances to replicate the overall sample volatility. In addition, positive technology …
Persistent link: https://www.econbiz.de/10003826953
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Business Cycle Effects of Credit and Technology Shocks in a DSGE Model with Firm Defaults
Pesaran, M. Hashem - 2011
This paper proposes a theoretical framework to analyze the impacts of credit and technology shocks on business cycle … different realizations of firm specific technology shocks, possible leading to default by some firms. The paper advances a new … financial institutions in the transmission of credit and technology shocks to the real economy. A positive credit shock, defined …
Persistent link: https://www.econbiz.de/10013119292
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Business Cycle Effects of Credit and Technology Shocks in a DSGE Model with Firm Defaults
Pesaran, M. Hashem - 2011
This paper proposes a theoretical framework to analyze the impacts of credit and technology shocks on business cycle … different realizations of firm specific technology shocks, possibly leading to default by some firms. The paper advances a new … financial institutions in the transmission of credit and technology shocks to the real economy. A positive credit shock, defined …
Persistent link: https://www.econbiz.de/10013119521