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Is capacity utilization variable in the long run? : an agent-based sectoral approach to modeling hysteresis in the normal rate of capacity utilization
Bassi, Federico; Bauermann, Tom; Lang, Dany; … - 2020
rate of capacity utilization by developing a model of strong or genuine hysteresis, in which firms make discrete decisions … empirical analysis of 25 sectors of the US economy is used to show that hysteresis can cause variation in the normal rate of … ranges of variation in the actual rate. More broadly speaking, the genuine hysteresis model is shown to provide the basis for …
Persistent link: https://www.econbiz.de/10012660731
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Is capacity utilization variable in the long run? : an agent-based sectoral approach to modeling hysteresis in the normal rate of capacity utilization
Bassi, Federico; Bauermann, Tom; Lang, Dany; … - In: Structural change and economic dynamics : SC+ED 63 (2022), pp. 196-212
Persistent link: https://www.econbiz.de/10013534288
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Will hysteresis effects afflict the US economy during the post-COVID-19 recovery?
Setterfield, Mark - In: Review of Keynesian economics 11 (2023) 4, pp. 507-528
Persistent link: https://www.econbiz.de/10014443079
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Bayesian comparison of production function-based and time-series GDP models
Osiewalski, Jacek; Wróblewska, Justyna; Makieła, Kamil - In: Empirical economics : a journal of the Institute for … 58 (2020) 3, pp. 1355-1380
Persistent link: https://www.econbiz.de/10012219593
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Discussing the role of fiscal policy in a demand-led agent-based growth model
Dweck, Esther; Vianna, Matheus; Barbosa, Arthur - In: Economia : revista da ANPEC 21 (2020) 2, pp. 185-208
The global financial crisis led to a crisis in mainstream macroeconomic theory and to questioning the economic policies implemented before and after the crisis. One of the most relevant controversy concerns the role of fiscal policy. In order to present a different theoretical approach and...
Persistent link: https://www.econbiz.de/10012307237
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Long-term damage from the Great Recession in OECD countries
Ball, Laurence M. - In: European journal of economics and economic policies : … 11 (2014) 2, pp. 149-160
Persistent link: https://www.econbiz.de/10010511548
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Revisions of potential output estimates in the EU after the Great Recession
Dovern, Jonas; Zuber, Christopher - 2019
Using European Commission real-time data, we show that potential output (PO) estimates were substantially and persistently revised downwards after the Great Recession. We decompose PO revisions into revisions of the capital stock, trend labor, and trend total-factor productivity (TFP)....
Persistent link: https://www.econbiz.de/10012026398
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Recessions and instable estimates of potential output
Dovern, Jonas; Zuber, Christopher - 2017
existence of substantial hysteresis effects of demand shocks. …
Persistent link: https://www.econbiz.de/10011798221
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Monetary policy and hysteresis in potential output
Kienzler, Daniel; Schmid, Kai D. - 2013
potential output is subject to hysteresis. We augment a basic NewKeynesian model by hysteresis in potential output and contrast … simulation outcomes of this extended model to the standard model. We find that considering hysteresis allows for a more realistic … Hysterese-Effekte im Potenzialoutput der Ökonomie berücksichtigt werden. Wir erweitern ein Neukeynesianisches Standardmodell um …
Persistent link: https://www.econbiz.de/10009772964
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Hysteresis in potential output and monetary policy
Kienzler, Daniel; Schmid, Kai D. - 2013
Persistent link: https://www.econbiz.de/10010410454