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The Cross-Section of Firms Over the Business Cycle : New Facts and a DSGE Exploration
Bachmann, Rudi - 2009
Using a German firm-level data set, this paper is the first to jointly study the cyclical properties of the cross-sections of firm-level real value added and Solow residual innovations, as well as capital and employment adjustment. We find two new business cycle facts: 1) The cross-sectional...
Persistent link: https://www.econbiz.de/10013155672
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Determinants of Business Cycles in Small Scale Macroeconomic Models : The German Case
Maußner, Alfred; Spatz, Julius - 2003
We identify measures of shocks to total factor productivity and preferences from two real business cycle models and subject them to Granger causality tests to see whether they can be considered exogenous to other plausible sources of the German business cycle. For the period 60.i to 89.iv no...
Persistent link: https://www.econbiz.de/10014076251
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The Role of Real Wages, Productivity, and Fiscal Policy in Germany's Great Depression 1928-37
Fisher, Jonas D. M. - 2012
We study the behavior of output, employment, consumption, and investment in Germany during the Great Depression of 1928-37. In this time period, real wages were countercyclical, and productivity and fiscal policy was procyclical. We use the neoclassical growth model to investigate how much these...
Persistent link: https://www.econbiz.de/10013097364
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New Evidence on News-Driven Business Cycles
Haertel, Thomas - 2011
We study the Beaudry and Portier (2006)-hypothesis of delayed-technology diffusion and newsdriven 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/10013132437
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Firm-Specific Productivity Risk Over the Business Cycle : Facts and Aggregate Implications
Bachmann, Ruediger - 2009
RBC model with only first moment shocks. The mild changes we do find are mainly caused by a bad news effect: higher …
Persistent link: https://www.econbiz.de/10013154684
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Extensive versus intensive margin over the business cycle : new evidence for Germany and the United States
Herzog-Stein, Alexander; Nüß, Patrick - 2016
(Veränderung der Arbeitsstunden je Erwerbstätigen) für die Veränderung des Arbeitsvolumens im Konjunkturverlauf in Deutschland und … Bedeutung in Deutschland im Zeitverlauf erheblich. Generell spielt die intensive Margin in Deutschland eine größere Rolle als in … Margin in Deutschland, unabhängig von der Wahl des Glättungsparameters. …
Persistent link: https://www.econbiz.de/10011433362
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Adverse Selection, Heterogeneous Beliefs, and Evolutionary Learning
Buchen, Clemens; Palermo, Alberto - In: Dynamic Games and Applications 12 (2021) 2, pp. 343-362
We relax the common assumption of homogeneous beliefs in principal-agent relationships with adverse selection. Principals are competitors in the product market and write contracts also on the base of an expected aggregate. The model is a version of a cobweb model. In an evolutionary learning...
Persistent link: https://www.econbiz.de/10014501297
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Asymmetric Information and Global Market Failure: Evidence and Policy Implications from Covid-19
Pazhanisamy, R. - 2020
The present pandemic covid-19 has changed the world in all the dimension of the human life. It has also changed the views of all discipline from individual attitude towards his health to the international trade. The life during the lockdown is an unforgettable experience to almost all in the...
Persistent link: https://www.econbiz.de/10012392743
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Moral hazard, optimal unemployment insurance, and aggregate dynamics
Veracierto, Marcelo - 2022
In this paper, I explore how optimal aggregate dynamics can be shaped by the presence of moral hazard in unemployment insurance. I also analyze the optimal provision of unemployment insurance and the implications for the amount of cross-sectional heterogeneity. The economy that I consider embeds...
Persistent link: https://www.econbiz.de/10013364528
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Adverse selection, heterogeneous beliefs, and evolutionary learning
Buchen, Clemens; Palermo, Alberto - 2021
We relax the common assumption of homogeneous beliefs in principal-agent relationships with adverse selection. Principals are competitors in the product market and write contracts also on the base of an expected aggregate. The model is a version of a cobweb model. In an evolutionary learning...
Persistent link: https://www.econbiz.de/10012616328