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Are Technology Improvements Contractionary?
Basu, Susanto; Fernald, John G.; Kimball, Miles S. - 2015
Yes. We construct a measure of aggregate technology change, controlling for imperfect competition, varying utilization of capital and labor, and aggregation effects. On impact, when technology improves, input use falls sharply, and output may fall slightly. With a lag of several years, inputs...
Persistent link: https://www.econbiz.de/10014208898
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Virtually everywhere? : digitalisation and the euro area and EU economies : degree, effects, and key issues
Anderton, Bob; Jarvis, Valerie; Labhard, Vincent; … - 2020
Digitalisation can be viewed as a major supply/technology shock affecting macroeconomic aggregates that are important for monetary policy, such as output, productivity, investment, employment and prices. This paper takes stock of developments in the digital economy and their possible impacts...
Persistent link: https://www.econbiz.de/10012254362
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Economic Recovery and Inflation
Dabrowski, Marek - 2018
In the last decade, advanced economies, including the euro area, experienced deflationary pressures caused by the global financial crisis of 2007-2009 and the anti-crisis policies that followed—in particular, the new financial regulations (which led to a deep decline in the money multiplier)....
Persistent link: https://www.econbiz.de/10012920665
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Macroeconomics, nonlinearities, and the business cycle
Reif, Magnus - 2019
Im Zentrum dieser Dissertation steht das Beschreiben und Erklären von Konjunkturdynamiken. Motiviert durch den außerordentlich starken wirtschaftlichen Einbruch in 2008/2009 betont die Arbeit dabei die Wichtigkeit der Nutzung von nichtlinearen Modellansätzen. Die Dissertation kann als Beitrag...
Persistent link: https://www.econbiz.de/10012154125
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Robustness and Real Consequences of Nominal Wage Rigidity
Fehr, Ernst; Goette, Lorenz - 2021
Recent studies found evidence for nominal wage rigidity during periods of relatively high nominal GDP growth. It has been argued, however, that in an environment with low nominal GDP growth, when nominal wage cuts become customary, workers' opposition to nominal cuts would erode and, hence,...
Persistent link: https://www.econbiz.de/10013321298
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Economic Growth and Business Cycles : The Labor Supply Decision with Two Types of Technological Progress
Graves, Philip E. - 2011
An informal model is described that leads to multiple macroeconomic equilibria as a consequence of random variation in the relative amounts of technological change for new and existing goods. The novel observation is that the rate of introduction and market penetration of new goods vis-a-vis...
Persistent link: https://www.econbiz.de/10012756204
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Price stability and debt sustainability under endogenous trend growth
Schmöller, Michaela; McClung, Nigel - 2024
inflation in order to stabilize the expectations of households, firms and innovators. Endogenous growth provides a self … debt-stabilizing inflation when current fiscal deficits are not backed by future fiscal surpluses. Because growth creates … unique stable equilibrium, provided that the policy permits r−g to fall with inflation. …
Persistent link: https://www.econbiz.de/10014457581
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Oil Price Fluctuations and it Impact on Economic Growth : A DSGE Approach
Bondzie, Eric - 2016
Ghana is poised to be one of the fastest growing economies in Sub-Saharan Africa because of its emerging oil and gas industry. Ghana's discovery of oil in commercial quantities in 2007 and its commencement of production in 2010 are expected to have an impact on the economy. To investigate these,...
Persistent link: https://www.econbiz.de/10012999305
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Economic Recovery from the Economic Recessions : Does this Time Differ?
Kim, Andrew S. - 2022
unemployment rate, industrial growth, and inflation. By creating and analyzing data sets with these factors overlaid onto the … business cycles ranging from 1948 to 2021, the COVID recession showed negative spikes in the former two rates whilst inflation … rose during the period; this breaks the recurring pattern of low inflation during a recession once more. Upon such an …
Persistent link: https://www.econbiz.de/10013492510
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Economic recovery and inflation : this policy contribution was prepared for the Committee on Economic and Monetary Affairs of the European Parliament (ECON) as an input for the Mon...
Dąbrowski, Marek - 2018
In the last decade, advanced economies, including the euro area, experienced deflationary pressures caused by the global financial crisis of 2007-2009 and the anti-crisis policies that followed - in particular, the new financial regulations (which led to a deep decline in the money multiplier)....
Persistent link: https://www.econbiz.de/10011852813