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As U.S. corporate profit margins have made it to record highs, a debate has raged between those who place their hopes on a new paradigm of sustained high profits and those who believe in capitalism's efficiency and the tendency of margins to revert to the mean. Using a bottoms-up analysis...
Persistent link: https://www.econbiz.de/10013044291
productivity and wage mark-up shocks, but it dampens those of aggregate demand and investment-specific technology shocks. …
Persistent link: https://www.econbiz.de/10010341104
Real risk-free interest rates have trended down over the past 30 years. Puzzlingly in light of this decline, (1) the return on private capital has remained stable or even increased, creating an increasing wedge with safe interest rates; (2) stock market valuation ratios have increased only...
Persistent link: https://www.econbiz.de/10011932166
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
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
provides new evidence on the dynamic effects of government spending and technology shocks on the real exchange rate and the … unrestricted - depreciate in response to expansionary government spending shocks and appreciate in response to positive technology …
Persistent link: https://www.econbiz.de/10012770998
Do the antitrust law enforcement activities of the US Department of Justice act as exogenous "technology shocks", an … variables act like negative technology shocks to productivity growth. Moreover, the negative effects are found to be transitory …
Persistent link: https://www.econbiz.de/10014224206
A rapidly growing literature has shown that market concentration among domestic firms has increased in the United States over the last three decades. Using confidential census data for the manufacturing sector, we show that typical measures of concentration, once adjusted for sales by foreign...
Persistent link: https://www.econbiz.de/10012520308
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