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Learning Efficiency Shocks, Knowledge Capital and the Business Cycle : A Bayesian Evaluation

Johri, Alok - 2017

output, investment, consumption and especially hours worked in post-war US data. The estimated shock processes suggest much …

Persistent link: https://www.econbiz.de/10012962083

Noisy News in Business Cycles

Forni, Mario - 2014

of imperfect information and derive restrictions for identifying the noise shock in a VAR model. The novelty of our …

Persistent link: https://www.econbiz.de/10013043877

The Effect of Bank Shocks on Firm-Level and Aggregate Investment

Amador, João - 2016

We show that credit supply shocks have a strong impact on firm-level as well as aggregate investment by applying the methodology developed by Amiti and Weinstein (2013) to a rich dataset of matched bank-firm loans in the Portuguese economy for the period 2005 to 2013. We argue that their...

Persistent link: https://www.econbiz.de/10012987210

The Effect of Bank Shocks on Firm-Level and Aggregate Investment

Amador, João - 2016

Persistent link: https://www.econbiz.de/10012988608

Uncertainty-driven business cycles : assessing the markup channel

Born, Benjamin; Pfeifer, Johannes - In: Quantitative economics : QE ; journal of the … 12 (2021) 2, pp. 587-623

Precautionary pricing and increasing markups in representative-agent DSGE models with nominal rigidities are commonly used to generate negative output effects of uncertainty shocks. We assess whether this theoretical model channel is consistent with the data. Three things stand out. First,...

Persistent link: https://www.econbiz.de/10012598448

Spillover effects in international business cycles

Camacho, Maximo; Pacce, Matías; Pérez-Quirós, Gabriel - 2020

To analyze the international transmission of business cycle fluctuations, we propose a new multilevel dynamic factor model with a block structure that (i) does not restrict the factors to being orthogonal and (ii) mixes data sampled at quarterly and monthly frequencies. By means of Monte Carlo...

Persistent link: https://www.econbiz.de/10012305394

Do exchange rates absorb demand shocks at the ZLB?

Hoffmann, Mathias; Hürtgen, Patrick - 2021

appreciates in response to an asymmetric negative demand shock at the zero lower bound (ZLB) and exacerbates the adverse … at the ZLB. In sharp contrast to the full information model: (i) A negative demand shock concentrated in the home country … causes a real exchange rate depreciation that partially absorbs the demand shock. (ii) A VAR with an identified demand shock …

Persistent link: https://www.econbiz.de/10012510174

Zooming in on monetary policy : the labor share and production dynamics of two million firms

Fritsche, Jan Philipp; Steininger, Lea - 2021 - This version: August 18, 2021

Conditional on a contractionary monetary policy shock, the labor share of value added is expected to decrease in the … projections and high dimensional fixed effects, we show that a one standard deviation contractionary monetary policy shock …

Persistent link: https://www.econbiz.de/10012607460

Monetary policy, sectoral comovement and the credit channel

Di Pace, Federico; Görtz, Christoph - 2021

Persistent link: https://www.econbiz.de/10012546900

Measuring price selection in microdata : it's not there

Karadi, Peter; Schoenle, Raphael; Wursten, Jesse - 2021

We use microdata to estimate the strength of price selection - a key metric for the effect of monetary policy on the real economy. We propose a product-level proxy for mispricing and assess whether products with larger mispricing respond with a higher probability to identified monetary and...

Persistent link: https://www.econbiz.de/10012547543