Post Keynesian macrodynamic models make various assumptions about the normal rate of capacity utilization. Those rooted in the Classical and neo-Keynesian traditions assume the normal rate is fixed, whereas Kaleckian models treat it as a variable that is endogenous to the actual rate of capacity...

We examine how a firm's operational slack is associated with current income and future stock price crash risk. By doing so, we test the validity of a firm's alternative motivations for holding operational slack. We show that Supply Chain Slack, which is based on excess working capital, is...

We analyze post 1991 liberalization Indian economy using the Monetary Business Cycle Accounting framework. We use quarterly National Accounts data from 1996.Q1-2017.Q4, and we find that efficiency wedges explain up to 68% of fluctuations in output and 40% of hours worked, while investment wedges...

We propose a way to directly nowcast the output gap using the Beveridge-Nelson decomposition based on a mixed-frequency Bayesian VAR. The mixed-frequency approach produces similar but more timely estimates of the U.S. output gap compared to those based on a quarterly model, the CBO measure of...

This study considers a mechanism design problem in which service slots are allocated over time to buyers arriving at different periods. Some buyers can accept delayed service, whereas others cannot. Buyers have a multidimensional type representing their valuation and patience level. The seller...

Epidemiologische Analysen aus der Zeit der großflächigen Eindämmungsmaßnahmen von März bis April zeigen, dass sich das neuartige Coronavirus (SARS-CoV-2) in Deutschland bereits früh deutlich abgeschwächt verbreitet. Auffällig ist die im internationalen Vergleich geringe Zahl der...