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Do firms’ wage-setting powers increase during recessions?
Sorensen, Todd A. - In: IZA World of Labor (2017)
Traditional models of the labor market typically assume that wages are set by the market, not the firm. However, over … suggest that a monopsonistic model, where individual firms and not the market set wages, may be more appropriate. This model … attributes more wage-setting power to firms, particularly during economic downturns, which helps explain why wages decrease …
Persistent link: https://www.econbiz.de/10011662673
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Anticipated productivity and the labor market
Chahrour, Ryan; Chugh, Sanjay K.; Potter, Tristan - In: Quantitative Economics 14 (2023) 3, pp. 897-934
stock prices even though TFP does not change significantly for more than 2 years. A labor search model in which wages are …-finding rates. The proposed wage rule is consistent with empirical responses of wages to both anticipated and unanticipated …
Persistent link: https://www.econbiz.de/10014536993
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Science and Ideology in Economic, Political and Social Thought
Hillinger, Claude - In: Economics: The Open-Access, Open-Assessment E-Journal 2 (2008) 2008-2, pp. 1-70
This paper has two sources: One is my own research in three broad areas: business cycles, economic measurement and social choice. In all of these fields I attempted to apply the basic precepts of the scientific method as it is understood in the natural sciences. I found that my effort at using...
Persistent link: https://www.econbiz.de/10010295300
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Do News Shocks Drive Business Cycles? Evidence from German Data
Lucke, Bernd; Haertel, Thomas - In: Economics: The Open-Access, Open-Assessment E-Journal 2 (2008) 2008-10, pp. 1-21
We study the Beaudry and Portier (2006)-hypothesis of delayed-technology diffusion and news-driven business cycles. For German data on TFP and stock prices we find qualitatively similar empirical evidence. Quantitatively, however, an impulse response analysis suggests that a substantial part of...
Persistent link: https://www.econbiz.de/10010295308
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Business cycle correlation between the Euro area and the Balkan countries
Gouveia, Sofia - In: International Journal of Economic Sciences and Applied … 7 (2014) 1, pp. 33-49
This paper examines the degree of trade integration and business cycle synchronisation between eight Balkan countries and the Euro area over the period 2000:1-2011:4. The main findings are that Slovenia and the Former Yugoslav Republic of Macedonia exhibit a high level of openness relative to...
Persistent link: https://www.econbiz.de/10011310264
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Deutsche Industrie: Durchwachsene Lage, positive Aussichten
Lucke, Dorothea - In: DIW Wochenbericht 80 (2013) 47, pp. 16-25
Die deutsche Industrie hat den Produktionsrückgang vom Jahresende 2012 in den ersten neun Monaten des laufenden Jahres fast wieder wettgemacht. Das Vorjahresniveau wird sie im Gesamtjahr 2013 dennoch knapp verfehlen, um voraussichtlich rund 0,5 Prozent. Sollte der Aufschwung im Euroraum im...
Persistent link: https://www.econbiz.de/10010327371
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Wage discrimination over the business cycle
Biddle, Jeff E.; Hamermesh, Daniel S. - In: IZA Journal of Labor Policy 2 (2013), pp. 1-20
negative shocks, while the impact on Hispanics' wages is unclear. A theory of job search suggests two opposite …
Persistent link: https://www.econbiz.de/10010331996
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The role of economic policy uncertainty in predicting U.S. recessions: A mixed-frequency Markov-switching vector autoregressive approach
Balcilar, Mehmet; Gupta, Rangan; Segnon, Mawuli - In: Economics: The Open-Access, Open-Assessment E-Journal 10 (2016) 2016-27, pp. 1-20
This paper analyzes the performance of the monthly economic policy uncertainty (EPU) index in predicting recessionary regimes of the (quarterly) U.S. GDP. In this regard, the authors apply a mixed-frequency Markov-switching vector autoregressive (MF-MS-VAR) model, and compare its in-sample and...
Persistent link: https://www.econbiz.de/10011555275
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Public consumption over the business cycle
Bachmann, Rüdiger; Bai, Jinhui H. - In: Quantitative Economics 4 (2013) 3, pp. 417-451
Persistent link: https://www.econbiz.de/10011599644
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A Bayesian dynamic stochastic general equilibrium model of stock market bubbles and business cycles
Miao, Jianjun; Wang, Pengfei; Xu, Zhiwei - In: Quantitative Economics 6 (2015) 3, pp. 599-635
We present an estimated dynamic stochastic general equilibrium model of stock market bubbles and business cycles using Bayesian methods. Bubbles emerge through a positive feedback loop mechanism supported by self-fulfilling beliefs. We identify a sentiment shock that drives the movements of...
Persistent link: https://www.econbiz.de/10011599686