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Rounding and the impact of news : a simple test of market rationality

Beechey, Meredith Jane; Wright, Jonathan H. - 2007

Persistent link: https://www.econbiz.de/10003426000

How many factors and shocks cause financial stress?

Kappler, Marcus; Schleer, Frauke - 2013

particular financial stress in the euro area. A second aim is to construct summary indices on the conditions and level of stress … financial market conditions in the euro area, our results suggest that the data respond quite differently to fundamental shocks … financial sector in the euro area react fairly heterogonously to such shocks. We estimate several common factors and by means of …

Persistent link: https://www.econbiz.de/10010204040

Who's coming to the rescue? : revenue-sharing slumps and implicit bailouts during the Great Recession

Foremny, Dirk; Solé-Ollé, Albert - 2016

This paper analyzes the distribution of discretionary transfers from higher tiers of government in the process of fiscal adjustment in local jurisdictions which were hit by a negative revenue shock in formula transfers. Spanish local governments experienced a 30% fall in their revenue-sharing...

Persistent link: https://www.econbiz.de/10011499738

Fiscal stimulus and firms : a tale of two recessions

Dobridge, Christine L. - 2016

In this paper, I examine the effects of a countercyclical fiscal policy that gave firms additional tax refunds -- additional liquidity -- at the end of the past two recessions. I take advantage of a discontinuity in the slope of the tax refund formula to estimate the policy's impact. I find that...

Persistent link: https://www.econbiz.de/10011499759

Government-backed mortgage insurance, financial crisis, and the recovery from the Great Recession

Passmore, Stuart Wayne; Sherlund, Shane M. - 2016

Persistent link: https://www.econbiz.de/10011500227

The role of dispersed information in pricing default : evidence from the Great Recession

Brancati, Emanuele; Macchiavelli, Marco - 2015

Persistent link: https://www.econbiz.de/10011409764

Financial frictions, financial shocks, and aggregate volatility

Fuentes-Albero, Cristina - 2014

Persistent link: https://www.econbiz.de/10011280184

Macroeconomic forecasting in times of crises

Guerrón-Quintana, Pablo A.; Zhong, Molin - 2017

We propose a parsimonious semiparametric method for macroeconomic forecasting during episodes of sudden changes. Based on the notion of clustering and similarity, we partition the time series into blocks, search for the closest blocks to the most recent block of observations, and with the...

Persistent link: https://www.econbiz.de/10011708260

Fiscal policy and aggregate demand in the U.S. before, during and following the Great Recession

Cashin, David; Lenney, Jamie; Lutz, Byron F.; Peterman, … - 2017

We examine the effect of federal and subnational fiscal policy on aggregate demand in the U.S. by introducing the fiscal effect (FE) measure. FE can be decomposed into three components. Discretionary FE quantifies the effect of discretionary or legislated policy changes on aggregate demand....

Persistent link: https://www.econbiz.de/10011709630

The Great Recession and a missing generation of exporters

Lincoln, William F.; McCallum, Andrew H.; Siemer, Michael - 2017

The collapse of international trade surrounding the Great Recession has garnered significant attention. This paper studies firm entry and exit in foreign markets and their role in the post-recession recovery of U.S. exports using confidential microdata from the U.S. Census Bureau. We find that...

Persistent link: https://www.econbiz.de/10011803263