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Accounting for the Sources of Macroeconomic Tail Risks

Atalay, Enghin - 2020

Using a multi-industry real business cycle model, we empirically examine the microeconomic origins of aggregate tail risks. Our model, estimated using industry-level data from 1972 to 2016, indicates that industry-specific shocks account for most of the third and fourth moments of GDP growth

Persistent link: https://www.econbiz.de/10012852920

The quantitative importance of technology and demand shocks for unemployment fluctuations in a shopping economy

Borys, Paweł; Doligalski, Paweł; Kopiec, Paweł - In: Economic modelling 101 (2021), pp. 1-16

Persistent link: https://www.econbiz.de/10012796555

Real business cycles in emerging countries : are Asian business cycles different from Latin American business cycles?

Hwang, Seolwoong; Kim, So-yŏng - 2021

of trend productivity shocks to fluctuations in key macroeconomic variables, and lower consumption volatility, than Latin …. First, the first three differences are mainly explained by a higher persistence of trend productivity shocks in Asia than in … the differences in their economic structure. The differences in the contribution of trend productivity shocks in economic …

Persistent link: https://www.econbiz.de/10012607054

Endogenous product scope : market interlacing and aggregate business cycle dynamics

Pavlov, Oscar; Weder, Mark - 2021

Persistent link: https://www.econbiz.de/10013253988

Business cycles with cyclical returns to scale

Hyun, Jay; Kim, Ryan; Lee, Byoungchan - 2022

We study business cycles with cyclical returns to scale. Contrary to tightly parameterized production functions (Cobb-Douglas and Constant Elasticity of Substitution), we empirically identify strong input complementarity that leads to procyclical returns to scale. We therefore propose a flexible...

Persistent link: https://www.econbiz.de/10013260122

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

Galí, Jordi - 2021

Using data for the G7 countries, I estimate conditional correlations of employment and productivity, based on a …) technology shocks appear to induce a negative comovement between productivity and employment, counterbalanced by a positive … positive technology shock, and (c) measured productivity increases temporarily in response to a positive demand shock. More …

Persistent link: https://www.econbiz.de/10013246500

Credit Constraints, Productivity Shocks and Consumption Volatility in Emerging Economies

Bhattacharya, Rudrani - 2013

How does access to credit impact consumption volatility? Theory and evidence from advanced economies suggests that greater household access to finance smooths consumption. Evidence from emerging markets, where consumption is usually more volatile than income, indicates that financial reform...

Persistent link: https://www.econbiz.de/10013080461

Idiosyncratic shocks and aggregate fluctuations in an emerging market

Grigoli, Francesco; Luttini, Emiliano; Sandri, Damiano - 2021

This paper provides the first assessment of the contribution of idiosyncratic shocks to aggregate fluctuations in an emerging market using confidential data on the universe of Chilean firms. We find that idiosyncratic shocks account for more than 40 percent of the volatility of aggregate sales....

Persistent link: https://www.econbiz.de/10012795043

How should environmental policy respond to business cycles? : optimal policy under persistent productivity shocks

Heutel, Garth - In: Review of economic dynamics 15 (2012) 2, pp. 244-264

Persistent link: https://www.econbiz.de/10010218756

How saline is the Solow residual? Debating real business cycles in the 1980s and 1990s

Saïdi, Aurélien - In: History of political economy 51 (2019) 3, pp. 579-599

Persistent link: https://www.econbiz.de/10012284680