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ESSAYS IN ESTIMATION OF DYNAMIC STOCHASTIC GENERAL EQUILIBRIUM MODELS
Kryshko, Maxym - 2010
Dynamic factor models (DFM) and dynamic stochastic general equilibrium (DSGE) models are widely used for empirical research in macroeconomics. The empirical factor literature argues that the co-movement of large panels of macroeconomic and financial data can be captured by relatively few common...
Persistent link: https://www.econbiz.de/10009438699
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Financial Frictions, Propagation of Shocks, and Macroeconomic Volatility
Fuentes-Albero, Cristina - 2010
I study the evolution of aggregate volatility in the US during the postwar period by assessing the relative role played by financial shocks, technological progress, and changes in the financial system. Balance-sheet variables of firms have been characterized by greater volatility since the early...
Persistent link: https://www.econbiz.de/10009438701
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Essays on the Macroeconomics of Incomplete Information
Melosi, Leonardo - 2010
In the first chapter, I develop and estimate a dynamic general equilibrium model with imperfectly informed firms in the sense of Woodford (2002). The model has two aggregate shocks: a monetary policy shock and a technology shock. Firms observe idiosyncratic noisy signals about these shocks and...
Persistent link: https://www.econbiz.de/10009438812
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The Economic Impact of Oil Price Shocks on Emerging Markets
Kapoor, Aanchal - 2011
Recent spikes in oil prices have thrown light on how economic activity in emerging markets may be impacted by oil price shocks. This paper conducts an empirical analysis of the effect of oil price shocks on emerging markets. It tests for the existence of an asymmetrical relationship between oil...
Persistent link: https://www.econbiz.de/10009468742
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Can Parallel Exchange Rates Forecast Commodity Prices?
Roberts, John F - 2009
Commodity price uncertainty imposes large costs on society. On the macro level, it results in sudden and unexpected shifts in current account imbalances and real GDP volatility, while on the micro level, it leads to allocation inefficiencies. Accurate price forecasts have the potential to remove...
Persistent link: https://www.econbiz.de/10009474968
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How Does Income Inequality Affect the Growth of U.S. Counties?
Roth, Jeremy - 2010
This paper aims to conduct a precise test of the political economy hypothesis linking income inequality and economic growth. By choosing covariates from a detailed county-level dataset and assuming that U.S. counties experience perfect capital mobility, I shut off the four possible channels...
Persistent link: https://www.econbiz.de/10009429051
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Myopia of Health-Care Reform Using Business Models
Kenneth, MacInnes; McAlister, Vivian C. - 2001
Background: Health-care institutions have looked to business for models to respond to the requirement for reform. This has changed the perspective of institutions that were founded on charitable principles, and managed with liberal employment policies and deficit budgeting. Using lesions from...
Persistent link: https://www.econbiz.de/10009447213
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Do Bank Mergers Create Shareholder Value? An Event Study Analysis
Sharma, Varini - 2010
This paper investigates the economic role of bank mergers in creating shareholder value based on the idea that shareholder wealth will increase if the consolidation leads to the aforementioned gains. This paper is divided into seven sections. The second section of my paper provides an academic...
Persistent link: https://www.econbiz.de/10009429056
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Firm Ownership and Internal Labor Practices in a Transition Economy: An Exploration of Worker Skill Acquisition in Vietnam
Friedman, Jed - 2004
One feature common to many post-socialist transition economies is a relatively compressed wage structure in the state … acquisition and thus presents adverse consequences for the entire transition economy if a substantial portion of the labor force … outcomes, in a transition setting with matched firm and worker data collected in one of the largest provinces of Vietnam – Ho …
Persistent link: https://www.econbiz.de/10009476682
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Labor Market Trends and Institutions in Belarus
Brixiova, Zuzana; Volchok, Vera - 2005
In most countries of Central and Eastern Europe and the Commonwealth of Independent States, the transition to market … fall in employment since 1990 has been similar to other transition economies, leading to a sharp reduction of labor force …
Persistent link: https://www.econbiz.de/10009476683