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Sectoral Okun's Law and Cross-Country Cyclical Differences

Goto, Eiji - 2020

We estimate Okun's law, the negative relationship between output and the unemployment rate, at the sector level for the US, the UK, Japan, and Switzerland to test several hypotheses that may explain why the aggregate Okun's coeffcients are different across countries. Specifically, we show that...

Persistent link: https://www.econbiz.de/10012841145

Inequality and Income Dynamics in Germany

Drechsel-Grau, Moritz; Peichl, Andreas; Schmieder, … - 2022

We provide a comprehensive analysis of income inequality and income dynamics for Germany over the last two decades. Combining personal income tax and social security data allows us — for the first time — to offer a complete picture of the distribution of annual earnings in Germany. We find...

Persistent link: https://www.econbiz.de/10013298363

Wages, Skills, and Skill-Biased Technical Change : The Canonical Model Revisited

Bowlus, Audra; Robinson, M. Chris; Lochner, Lance; … - 2021

The canonical supply-demand model of the wage returns to skill has been extremely influential; however, it has faced …

Persistent link: https://www.econbiz.de/10013217553

Pennies from Haven : Wages and Profit Shifting

Alstadsæter, Annette; Bjørkheim, Julie Brun; Davies, … - 2022

, an activity that generates inequality in corporate taxation. Here, we examine how profit shifting relates to wage …, particularly among service firms where the wage premium is approximately 2%. Furthermore, this average effect masks significant … within-firm heterogeneity with high-skill occupations – and managers in particular – earning higher shifting wage premiums …

Persistent link: https://www.econbiz.de/10013299336

Investment Under Rational Inattention : Evidence from US Sectoral Data

Zorn, Peter - 2020

Macroeconomic and sector-specific shocks exert differential effects on investment in disaggregate sectoral data. The response to macroeconomic shocks is hump-shaped, just as in aggregate data. The effects of sectoral innovations decrease monotonically. A calibrated model of investment with...

Persistent link: https://www.econbiz.de/10012827670

Heterogeneous Expectations, Indeterminacy, and Postwar US Business Cycles

Ilabaca, Francisco - 2020

This paper estimates a New Keynesian model extended to include heterogeneous expectations, to revisit the evidence that postwar US macroeconomic data can be explained as the outcome of passive monetary policy, indeterminacy, and sunspot-driven fluctuations in the pre-1979 sample, with a switch...

Persistent link: https://www.econbiz.de/10012836715

The Impact of Aggregate Uncertainty on Firm-Level Uncertainty

Easaw, Joshy; Grimme, Christian - 2021

We analyse the extent to which firm-level uncertainty is affected by aggregate uncertainty. Firm-level uncertainty is constructed from a large and monthly panel dataset of manufacturing firms. We find that aggregate uncertainty has a positive and robust impact on firm-level uncertainty. This...

Persistent link: https://www.econbiz.de/10013239562

Time-Varying Dynamics of the German Business Cycle : A Comprehensive Investigation

Reif, Magnus - 2021

This paper provides insights into the time-varying dynamics of the German business cycle over the last five decades. To do so, I employ an open-economy time-varying parameter VAR with stochastic volatility, which I estimate by quasi-Bayesian techniques. The reduced-form analysis reveals...

Persistent link: https://www.econbiz.de/10013214330

Quarterly GDP Estimates for the German States : New Data for Business Cycle Analyses and Long-Run Dynamics

Lehmann, Robert; Wikman, Ida - 2023

To date, only annual information on economic activity is published for the 16 German states. In this paper, we calculate quarterly regional GDP estimates for the period between 1995 to 2021, thereby improving the regional database for Germany. The new data set will regularly be updated when...

Persistent link: https://www.econbiz.de/10014260700

Recruitment Policies, Job-Filling Rates and Matching Efficiency

Carrillo-Tudela, Carlos - 2020

search effort and wage policies play only a minor role …

Persistent link: https://www.econbiz.de/10012833745