Showing 1 - 10 of 15,754
Persistent link: https://www.econbiz.de/10010419896
In this work we study the granular origins of business cycles and their possible underlying drivers. As shown by Gabaix (2011), the skewed nature of firm size distributions implies that idiosyncratic (and independent) firm-level shocks may account for a significant portion of aggregate...
Persistent link: https://www.econbiz.de/10011873811
Persistent link: https://www.econbiz.de/10013169386
Persistent link: https://www.econbiz.de/10003908088
Okun's law is formulated as the ratio between GDP and unemployment (UE): β = f(GDP/UE). It is used to investigate the …
Persistent link: https://www.econbiz.de/10013498938
Persistent link: https://www.econbiz.de/10011687454
We analyze the contribution of credit spread, house and stock price shocks to GDP growth in the US based on a Bayesian VAR with time-varying parameters estimated over 1958-2012. Our main findings are: (i) The contribution of financial shocks to GDP growth fluctuates from about 20 percent in...
Persistent link: https://www.econbiz.de/10009739598
Persistent link: https://www.econbiz.de/10009745589
We analyze the contribution of credit spread, house and stock price shocks to GDP growth in the US based on a Bayesian VAR with time-varying parameters estimated over 1958-2012. Our main findings are: (i) The contribution of financial shocks to GDP growth fluctuates from about 20 percent in...
Persistent link: https://www.econbiz.de/10012988788
Persistent link: https://www.econbiz.de/10012607135