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Firm-specific productivity risk over the business cycle : facts and aggregate implications

Bachmann, Ruediger; Bayer, Christian - 2009

Is time-varying firm-level uncertainty a major cause or amplifier of the business cycle? This paper investigates this question in the context of a heterogeneous-firm RBC model with persistent firm-level productivity shocks and lumpy capital adjustment, where cyclical changes in uncertainty...

Persistent link: https://www.econbiz.de/10003898815

Investment-specific technology shocks and international business cycles : an empirical assessment

Mandelman, Federico S.; Rabanal, Pau; Rubio-Ramírez, … - 2010

In this paper, we first introduce investment-specific technology (IST) shocks to an otherwise standard international real business cycle model and show that a thoughtful calibration of them along the lines of Raffo (2009) successfully addresses the "quantity," "international comovement,"...

Persistent link: https://www.econbiz.de/10008664137

Rule-of-thumb consumers, productivity and hours

Furlanetto, Francesco (contributor); … - 2007

the delayed responses of output and consumption after a productivity shock. -- rule-of-thumb consumers ; productivity …

Persistent link: https://www.econbiz.de/10003571238

Firm-specific productivity risk over the business cycle : facts and aggregate implications

Bachmann, Ruediger; Bayer, Christian - 2009

Is time-varying firm-level uncertainty a major cause or amplifier of the business cycle? This paper investigates this question in the context of a heterogeneousfirm RBC model with persistent firm-level productivity shocks and lumpy capital adjustment, where cyclical changes in uncertainty...

Persistent link: https://www.econbiz.de/10003857672

Real business cycles with a human capital investment sector and endogenous growth : persistence, volatility and labor puzzles

Dang, Jing; Gillman, Max; Kejak, Michal - 2011

An identical two-sector productivity shock causes Rybczynski (1955) and Stolper and Samuelson (1941) effects that …

Persistent link: https://www.econbiz.de/10009154774

Interpreting the hours-technology time-varying relationship

Cantore, Cristiano; Ferroni, Filippo; León-Ledesma, … - 2012

sizable role for capital augmenting shock for business cycles fluctuations. In rolling sub-samples, we document that the …

Persistent link: https://www.econbiz.de/10009532160

Flight-to-liquidity and the great recession

Radde, Sören - 2012

outflows with loan scale. The model shows that an aggregate shock to the collateral value of bank assets triggers a flight to … liquidity, which amplifies the initial shock and induces credit crunch dynamics sharing key features with the Great Recession …. The paper thus develops a new balance sheet channel of shock transmission that works through the composition of banks …

Persistent link: https://www.econbiz.de/10009664944

Flight-to-liquidity and the great recession

Radde, Sören - 2012

Persistent link: https://www.econbiz.de/10009665427

Expansionary and contractionary technology improvements : conference paper

Balleer, Almut; Enders, Zeno - 2013 - Preliminary and incomplete

This paper examines the effects of expansionary technology shocks (shocks that increase labor productivity and factor inputs) as opposed to contractionary technology shocks (shocks that increase labor productivity, but decrease factor inputs). We estimate these two shocks jointly based on a...

Persistent link: https://www.econbiz.de/10010336790

Business cycles in small, open economies : evidence from panel data between 1900 and 2013

Miyamoto, Wataru; Nguyen, Thuy Lan - 2016

developed and developing countries in a model with financial frictions and a common shock structure. We estimate the model …

Persistent link: https://www.econbiz.de/10011553776