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Pinter, Gabor; Theodoridis, Konstantinos; Yates, Tony - Bank of England - 2013

We identify a ‘risk news' shock in a vector autoregression (VAR), modifying Barsky and Sims’s procedure, while … news shock is estimated to account for around 2%-12% of business cycle fluctuations depending on which risk proxy we use …; regardless, contemporaneous risk and risk news shocks together account for about 20%. This is substantially lower than the 60 …

Persistent link: https://www.econbiz.de/10010839036

Chapter 23. Families in Macroeconomics

Doepke, M.; Tertilt, M. - In: Handbook of macroeconomics : volume 2, v. 2A-2B SET, (pp. 1789-1891). 2016

Much of macroeconomics is concerned with the allocation of physical capital, human capital, and labor over time and across people. The decisions on savings, education, and labor supply that generate these variables are made within families. Yet the family (and decision making in families) is...

Persistent link: https://www.econbiz.de/10014024274

A Note on the Stability Properties of Goodwin's Predator-Prey Model

Aguiar-Conraria, Luís Francisco - Núcleo de Investigação em Políticas Económicas … - 2007

Goodwin's Predator-Prey model is structurally unstable. In its pure form, the model has an equilibrium that is neither stable nor unstable. Ploeg showed that relaxing the hypothesis of fixed proportion technology would stabilize the equilibrium. On the other hand, Goodwin showed that the...

Persistent link: https://www.econbiz.de/10005771638

What Affects the Employment Rate Intensity of Growth?

Revenga, A.L.; Bentolila, S. - 1995

Persistent link: https://www.econbiz.de/10005774251

What Affects the Employment Rate Intensity of Growth?

Revenga, Ana L.; Bentolila, Samuel - Banco de España - 1995

Persistent link: https://www.econbiz.de/10005590691

Technology, Employment, and the Business Cycle: Do Technology Shocks Explain Aggregate Fluctuations?

Gali, J. - C.V. Starr Center for Applied Economics, Department of … - 1996

Using data for the G7 countries, I estimate conditional correlations of employment and productivity, based on a decomposition of the two series into technology and non-technology components.

Persistent link: https://www.econbiz.de/10005611777

Consumption and Savings Over the Life Cycle.

Ekman, E. - Nationalekonomiska Institutionen, Uppsala Universitet - 1996

During the last decade most western economies have experienced large and unexpected fluctuations in consumption and savings. The purpose of this paper is to provide additional insights into the individual household's consumption decision and thereby increase the knowledge of what governs these...

Persistent link: https://www.econbiz.de/10005669545

The Effects of Fiscal Policy on Consumption and Employment: Theory and Evidence

Fatás, Antonio; Mihov, Ilian - C.E.P.R. Discussion Papers - 2001

This Paper compares the dynamic impact of fiscal policy on macroeconomic variables implied by a large class of general equilibrium models with the empirical results from an identified vector autoregression. In the data we find that positive innovations in government spending are followed by...

Persistent link: https://www.econbiz.de/10005792318

An augmented steady-state Kalman filter to evaluate the likelihood of linear and time: Invariant state-space models

Huber, Johannes - 2022

large-scale SSMs, making it particularly useful to estimate dynamic stochastic general equilibrium (DSGE) models and dynamic … factor models. Tests using a medium-scale DSGE model, namely the 2007 version of the Smets and Wouters model, show that the …

Persistent link: https://www.econbiz.de/10013329985

An augmented steady-state Kalman filter to evaluate the likelihood of linear and time : invariant state-space models

Huber, Johannes - 2022

Persistent link: https://www.econbiz.de/10013274687