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Technological change, trade, and endogenous factor endowments

Gundlach, Erich; de Vaal, Albert - 2008

Factor endowments are usually taken as given in trade theoretical analyses of technological change. We use the Deardorff (1974) diagram to show how the steady state capital labor ratio endogenously adjusts to technology shocks in a two-sector small open economy, an effect which has largely been...

Persistent link: https://www.econbiz.de/10010276892

Measuring immigration's effects on labor demand: a reexamination of the Mariel Boatlift

Bodvarsson, Örn B.; Lewer, Joshua J.; van den Berg, … - 2007

the effects of an immigration shock on labor demand by testing a general equilibrium model in which imperfectly … substitutable native and immigrant workers spend their wages on a locally produced good. The shock induces three responses: (i) a … can fall, stay the same or rise, depending upon the strength of the shock and various product and factor market …

Persistent link: https://www.econbiz.de/10010276906

The effects of external shocks to business cycles in emerging Asia: A Bayesian VAR approach

Utlaut, Johannes Friederich; van Roye, Björn - 2010

In this paper we analyze the effects of external shocks on countries in Emerging Asia. For that purpose, we estimate a Bayesian Vector Auto-Regressive model (BVAR) with an informative prior on the steady state, including variables representing world economic activity, financial conditions,...

Persistent link: https://www.econbiz.de/10010276916

Do Bivariate SVAR Models with Long-Run Identifying Restrictions Yield Reliable Results? The Case of Germany

van Zandweghe, Willem; Gottschalk, Jan - 2001

Bivariate SVAR models employing long-run identifying restrictions are often used to investigate the source of business cycle fluctuations. Their advantage is the simplicity in use and interpretation. However, their low dimension may also lead to a failure of the identification procedure, with...

Persistent link: https://www.econbiz.de/10010276923

On the non-optimality of information: an analysis of the welfare effects of anticipated shocks in the New Keynesian model

Wohltmann, Hans-Werner; Winkler, Roland C. - 2009

anticipation of a future cost-push shock leads to a higher welfare loss than an unanticipated shock. A welfare gain from the … anticipation of a future cost shock may only occur if prices are sufficiently flexible. We show analytically that this result holds …

Persistent link: https://www.econbiz.de/10010277242

Rational expectations models with anticipated shocks and optimal policy: a general solution method and a New Keynesian example

Wohltmann, Hans-Werner; Winkler, Roland C. - 2009

The purpose of this paper is to show how to solve linear dynamic rational expectations models with anticipated shocks by using the generalized Schur decomposition method. Furthermore, we determine the optimal unrestricted and restricted policy responses to anticipated shocks. We demonstrate our...

Persistent link: https://www.econbiz.de/10010277244

The role of early-life conditions in the cognitive decline due to adverse events later in life

van den Berg, Gerard J.; Deeg, Dorly J.H.; Lindeboom, … - 2010

Cognitive functioning of elderly individuals may be affected by events such as the loss of a (grand)child or partner or the onset of a serious chronic condition, and by negative economic shocks such as job loss or the reduction of pension benefits. It is conceivable that the impact of such...

Persistent link: https://www.econbiz.de/10010277333

The aggregate effects of long run sectoral reallocation

Reicher, Christopher Phillip - 2011

contractionary effect of a reallocative shock should come from the direct aggregate effect of the underlying shock and not from human …

Persistent link: https://www.econbiz.de/10010277346

A tale of two countries: A comparison of the aggregate effects of sectoral reallocation in the United States and Germany

Reicher, Christopher Phillip - 2011

This paper compares the aggregate effects of sectoral reallocation in the United States and Western Germany using a stochastic volatility model of sectoral employment growth. Reallocative shocks have no effect on the natural rate of unemployment in either country, and there is mild evidence that...

Persistent link: https://www.econbiz.de/10010277351

The speed of adjustment to demand shocks: A Markov-chain measurement using micro panel data

Müller, Christian; Köberl, Eva - 2007

between the speed of adjustment following either kind of shock. Furthermore, there is no need for using previous data …

Persistent link: https://www.econbiz.de/10010277760