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Macroeconomic dynamics and the IS puzzle

Hawkins, Raymond J.; Nguyen, Chau N. - 2017

The authors solve the IS puzzle for the G7 countries. They find that five of the G7 countries have the expected significant negative relationship between the output gap and the realrate gap; the time series of the remaining two show material deviation from expected IScurve behavior. The authors...

Persistent link: https://www.econbiz.de/10011650445

Is it good to be bad or bad to be good? Assessing the aggregate impact of abnormal weather on consumer spending

Sandqvist, Anna Pauliina; Siliverstovs, Boriss - 2018

Although the influence of exceptional weather on individual behaviour has already been acknowledged in finance, psychology, and marketing, the literature examining weather effects at more aggregate level is still limited. Further, there is a lot of anecdotal evidence that weather anomalies...

Persistent link: https://www.econbiz.de/10011969273

Characterizing the financial cycle: Evidence from a frequency domain analysis

Strohsal, Till; Proaño, Christian R.; Wolters, Jürgen - 2017

. Existing work argues that the financial cycle is considerably longer in duration and larger in amplitude than the business … cycle and that its distinguishing features became more pronounced over time. Also, a global cycle, being driven by US … weaker evidence for the UK validating the hypothesized features of the national financial cycle. In Germany, however, the …

Persistent link: https://www.econbiz.de/10011984257

Macroeconomic fluctuations in a New Keynesian disequilibrium model

van Aarle, Bas - In: Journal of Economic Structures 6 (2017) 10, pp. 1-20

This study extends the current New Keynesian modeling framework by changing one crucial aspect: it replaces the general equilibrium assumption by the arguably more realistic assumption of macroeconomic disequilibrium. As a result, more complex and less smooth macroeconomic adjustment dynamics...

Persistent link: https://www.econbiz.de/10011991476

Are Euro-Area expectations about recession phases effective to anticipate consequences of economic crises?

Rubilar-González, Marco; Pino, Gabriel - In: SERIEs - Journal of the Spanish Economic Association 9 (2018) 2, pp. 141-161

tool to identify and characterize expectations of business cycle phases for Germany, Spain, the Euro Area, and the European …

Persistent link: https://www.econbiz.de/10011994616

A dynamic version of Okun's law in the EU15 countries - The role of delays in the unemployment-output nexus

Obst, Thomas - 2019

variables and includes possible asymmetries. …

Persistent link: https://www.econbiz.de/10012051019

Yield Curve and Financial Uncertainty: Evidence Based on US Data

Castelnuovo, Efrem - 2019

How do short and long term interest rates respond to a jump in financial uncertainty? We address this question by conducting a local projections analysis with US monthly data, period: 1962-2018. The state-of-the-art financial uncertainty measure proposed by Ludvigson, Ma, and Ng (2019) is found...

Persistent link: https://www.econbiz.de/10012052803

The effect of higher capital requirements on bank lending: The capital surplus matters

Kolcunová, Dominika; Malovaná, Simona - 2019

This paper studies the impact of higher additional capital requirements on loan growth to private sector of banks in the Czech Republic. The empirical results indicate that there is a negative effect of higher additional capital requirements on loan growth of banks with relatively low capital...

Persistent link: https://www.econbiz.de/10012063489

Growth and volatility regime switching models for New Zealand GDP data

Buckle, Robert A; Haugh, David; Thomson, Peter - 2002

This paper fits hidden Markov switching models to New Zealand GDP data. A primary objective is to better understand the utility of these methods for modelling growth and volatility regimes present in the New Zealand data and their interaction. Properties of the models are developed together with...

Persistent link: https://www.econbiz.de/10012115495

A structural VAR model of the New Zealand business cycle

Buckle, Robert A; Kim, Kunhong; Kirkham, Heather; … - 2002

monetary policy, and the introduction of a climate variable to capture the impact of climatic conditions on the business cycle …. Key results to emerge are the significant influence of international variables on the New Zealand business cycle, the …

Persistent link: https://www.econbiz.de/10012115513