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Technology shocks, employment, and labor market frictions

Mandelman, Federico S.; Zanetti, Francesco - 2008

Recent empirical evidence suggests that a positive technology shock leads to a decline in labor inputs. However, the … employment to a technology shock. The results of the estimation support the hypothesis that labor market frictions are …

Persistent link: https://www.econbiz.de/10010292305

Learning, adaptive expectations, and technology shocks

Huang, Kevin X. D.; Liu, Zheng; Zha, Tao - 2008

This study explores the macroeconomic implications of adaptive expectations in a standard real business cycle model. When rational expectations are replaced by adaptive expectations, we show that the self-confirming equilibrium is the same as the steady-state rational expectations equilibrium...

Persistent link: https://www.econbiz.de/10010292324

Interest rate policy and the price puzzle in a quantitative business cycle model

Schabert, Andreas - 2001

In the empirical literature, monetary policy shocks are commonly measured as an innovation to a short-term nominal interest rate. In contrast, the majority of monetary business cycle models treats a broad monetary aggregate as the central bank's policy measure. We try overcome this disparity and...

Persistent link: https://www.econbiz.de/10010292749

Income variance dynamics and heterogeneity

Meghir, Costas; Pistaferri, Luigi - 2001

Recent theoretical work has shown the importance of measuring microeconomic uncertainty for models of both general and partial equilibrium under imperfect insurance. In this paper the assumption of i.i.d. income innovations used in previous empirical studies is removed and the focus of the...

Persistent link: https://www.econbiz.de/10010293000

The impact of income shocks on health: Evidence from cohort data

Adda, Jerome; Banks, James; von Gaudecker, Hans-Martin - 2006

We study the effect of permanent income innovations on health for a prime-aged population. Using information on more than half a million individuals sampled over a twenty-five year period in three different cross-sectional surveys we aggregate data by date-of-birth cohort to construct a...

Persistent link: https://www.econbiz.de/10010293055

Macroeconomic vulnerability in developing countries: Approaches and issues

Seth, Anuradha; Ragab, Amr - 2012

Economic vulnerability is approached from micro- and macroeconomic perspectives. While the microeconomic perspective is concerned with the impact of shocks on the well-being of individual households, the macroeconomic perspective focuses on the impact of these shocks on economic growth. This...

Persistent link: https://www.econbiz.de/10010293290

Supply shocks and the persistence of inflation

Sommer, Martin - 2002

This paper examines the long-run effects of supply shocks (such as oil shocks) on inflation in the United States. The persistence of supply shocks in U.S. inflation fell considerably during the period of Volcker's disinflation (1979-1982). My empirical results suggest that the difference between...

Persistent link: https://www.econbiz.de/10010293489

Assets, Shocks, and Poverty Traps in Rural Mozambique

Giesbert, Lena; Schindler, Kati - 2010

Using a micro-level approach to poverty traps, this paper explores welfare dynamics among households in post-war rural Mozambique. Conceptually, the paper builds on an asset-based approach to poverty and tests empirically, with household panel data, for the existence of a poverty trap. Findings...

Persistent link: https://www.econbiz.de/10010293524

Characteristics of unemployment dynamics: The chain reaction approach

Karanassou, Marika; Snower, Dennis J. - 2007

The aim of this paper is to analyze and estimate salient characteristics of unemployment dynamics. Movements in unemployment are viewed as "chain reactions" of responses to labour market shocks, working their way through systems of interacting lagged adjustment processes. In the context of...

Persistent link: https://www.econbiz.de/10010293972

Keeping up with the ageing Joneses

Fisher, Walter H.; Heijdra, Ben J. - 2007

In this paper we consider the implications of relative consumption externalities in the Blanchard-Yaari overlapping …, thus, in their relative position, persist in equilibrium. We show in our fixed employment model that consumption … externalities lower consumption and the capital stock in long-run equilibrium, a result in sharp contrast to the recent findings of …

Persistent link: https://www.econbiz.de/10010294031