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The ugly and the bad: banking and housing crises strangle output permanently, ordinary recessions do not

Boysen-Hogrefe, Jens; Jannsen, Nils; Meier, Carsten-Patrick - 2010

This paper provides statistical evidence suggesting that in industrial countries, recessions that are associated with either banking crises or housing crises dampen output far more than ordinary recessions. Using a parametric panel framework that allows for a bounceback of the level of output in...

Persistent link: https://www.econbiz.de/10010265853

Enhanced cooperation in an asymmetric model of tax competition

Vrijburg, Hendrik; De Mooij, Ruud A. - 2010

This paper analyzes enhanced cooperation agreements in corporate taxation in a three country tax competition model where countries differ in size. We characterize equilibrium tax rates and the optimal tax responses due to the formation of an enhanced cooperation agreement. Conditions for...

Persistent link: https://www.econbiz.de/10010266099

On the Nature of Fairness in Bargaining - Experimental Evidence from Germany and PR China

Hennig-Schmidt, Heike; Walkowitz, Gari; Geng, Hong - 2010

are allocation aspects, power asymmetry, cultural background, the interplay between fairness and mentalizing, frequency of … the German participants. The lesson we draw from our findings is that power asymmetry, cultural back-ground and …

Persistent link: https://www.econbiz.de/10010270765

Exchange-rate pass-through to import prices: nonlinearities and exchange rate and inflationary regimes

Kılıç, Rehim - 2010

-run. Results also reveal threshold effects and asymmetry in the pass-through relationship over appreciations/depreciations as well …

Persistent link: https://www.econbiz.de/10010273645

Asymmetric monetary policy effects in Germany

Tober, Silke; Kuzin, Vladimir N. - 2004

In a small structural model we find asymmetries in the effects of monetary policy in Germany depending on whether the economy is in an upswing or a downswing. These two different regimes are also identified using a Markov-switching model and the Kalman filter. Our results indicate that the...

Persistent link: https://www.econbiz.de/10010274488

Testing for business cycle asymmetries based on autoregressions with a Markov-switching intercept

Knüppel, Malte - 2004

In this paper, we investigate the implications of the two concepts of asymmetry defined by Sichel (1993) - deepness and …

Persistent link: https://www.econbiz.de/10010295668

The stock return-inflation puzzle and the asymmetric causality in stock returns, inflation and real activity

Kim, Jeong-Ryeol - 2003

In this paper, we use a modified concept of Granger-(non)causality in reconsidering the negative correlation between stock returns and inflation known in the literature as stock return-inflation puzzle. Based on the quarterly data for Germany including stock returns, inflation rates and growth...

Persistent link: https://www.econbiz.de/10010295749

Can capacity constraints explain asymmetries

Knüppel, Malte - 2008

In this paper, we investigate the ability of a modified RBC model to reproduce asymmetries observed for macroeconomic variables over the business cycle. In order to replicate the empirical skewness of major U.S. macroeconomic variables, we introduce a capacity constraint into an otherwise...

Persistent link: https://www.econbiz.de/10010295873

(S,s) pricing: Does the heterogeneity wipe out the asymmetry on micro level?

Babutsidze, Zakaria - 2010

This paper presents a model of asymmetric (S,s) pricing. We investigate whether the asymmetry on micro level is carried … conclude that the first type of asymmetry can be attributed to the differences in adjustment bands and that heterogeneity … softens this effect. The second type of asymmetry is the result of pricing behavior, thus of agent heterogeneity itself. …

Persistent link: https://www.econbiz.de/10010300701

Can the electricity market be characterised by asymmetric behaviour?

Narayan, Paresh; Popp, Stephan - 2009

., 2008. A robust entropy-based test of asymmetry for discrete and continuous processes. Econometric Reviews 28, 246–261], the … symmetry versus asymmetry. Journal of the American Statistical Association 75, 168–172] and the [Bai, J., and Ng, S., 2001. A …

Persistent link: https://www.econbiz.de/10009484134