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On the cyclicality of real wages and wage differentials
Otrok, Christopher; Pourpourides, Panayiotis M. - 2008
wages, which does not impose any structure between real wages and observed cyclical indicators. In particular, we employ a … Bayesian dynamic factor model and longitudinal microdata to estimate common latent factors driving real wages. We find that the … comovement of real wages is related to a common factor that exhibits a mild correlation with the national unemployment rate. Our …
Persistent link: https://www.econbiz.de/10010288748
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Employment cyclicality by firm size, wage, and productivity in Brazil
Cravo, Túlio; Jacinto, Paulo de Andrade; Schimanski, … - 2018 - Version: August 27th, 2018
firm size, wages and productivity are positively related. This paper constructs a unique monthly linked employer …
Persistent link: https://www.econbiz.de/10011927684
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Cyclical labor income risk
Nakajima, Makoto; Smirnyagin, Vladimir - 2019
Persistent link: https://www.econbiz.de/10012197717
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Wage led aggregate demand in the United Kingdom
Jump, Robert; Mendieta-Muñoz, Ivan - In: International review of applied economics 31 (2017) 5, pp. 565-584
Persistent link: https://www.econbiz.de/10011797295
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The behavior of the aggregate U.S. wage markdown
Khan, Hashmat; Metaxoglou, Konstantinos - 2021
Persistent link: https://www.econbiz.de/10012596592
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On the cyclicality of real wages and wage differentials
Otrok, Christopher M.; Pourpourides, Panayiotis M. - In: The B.E. journal of macroeconomics 19 (2019) 1, pp. 1-18
Persistent link: https://www.econbiz.de/10011978104
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Energy price shocks and the macroeconomy: The role of consumer durables
Dhawan, Rajeev; Jeske, Karsten - 2006
So far, the literature on dynamic stochastic general equilibrium models with energy price shocks uses energy on the production side only. In these models, energy shocks are responsible for only a negligible share of output fluctuations. We study the robustness of this finding by explicitly...
Persistent link: https://www.econbiz.de/10010292215
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Business cycles: A role for imperfect competition in the banking system
Mandelman, Federico S. - 2006
This paper studies the cyclical pattern of ex post markups in the banking system using balance-sheet data for a large set of countries. Markups are strongly countercyclical even after controlling for financial development, banking concentration, operational costs, inflation, and simultaneity or...
Persistent link: https://www.econbiz.de/10010292221
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Overborrowing and systemic externalities in the business cycle
Bianchi, Javier - 2009
Credit constraints that link a private agent’s debt to market-determined prices embody a credit externality that drives a wedge between competitive and constrained socially optimal equilibria, inducing private agents to overborrow. The externality arises because agents fail to internalize the...
Persistent link: https://www.econbiz.de/10010292300
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Productivity, energy prices, and the great moderation: A new link
Dhawan, Rajeev; Jeske, Karsten; Silos, Pedro - 2008
We study how total factor productivity (TFP), energy prices, and the Great Moderation are linked. First we estimate a joint stochastic process for the energy price and TFP and establish that until the second quarter of 1982, energy prices negatively affected productivity. This spillover has...
Persistent link: https://www.econbiz.de/10010292361