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This paper examines the effects of expansionary technology shocks (shocks that increase labor productivity and factor … inputs) as opposed to contractionary technology shocks (shocks that increase labor productivity, but decrease factor inputs … productivity and production inputs. In addition, these shocks trigger different reactions of certain variables, which can help …
Persistent link: https://www.econbiz.de/10010336790
We study the forecasting performance of three alternative large scale approaches for German key macroeconomic variables using a dataset that consists of 123 variables in quarterly frequency. These three approaches handle the dimensionality problem evoked by such a large dataset by aggregating...
Persistent link: https://www.econbiz.de/10010489849
The slow recovery following the 2008/2009 recession has led to renewed interest in the question whether deep recessions lower real GDP permanently or whether we can expect a rebound to earlier trend levels. Using a recent quantile autoregression unit root test we check whether shocks to real GDP...
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This book discusses recent developments in theoretical and empirical business cycle analysis, identifying possible applications of sophisticated tools by private and public institutions involved in the analysis of economic fluctuations and facilitating interaction between academics, researchers...
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This paper proposes a new perspective on international capital flows and countries' long-run external asset position. Cross-sectional evidence for 84 developing countries shows that over the last three decades countries that have had on average higher volatility of output growth: (1) accumulated...
Persistent link: https://www.econbiz.de/10010487744
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"Measuring innovation is a challenging task, both for researchers and for national statisticians. This task is timely and valuable given that policy and public interest in innovation has become increasingly intense in this era of digital revolution, yet National GDP Accounts and other economic...
Persistent link: https://www.econbiz.de/10012310436