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Revisions of Potential Output Estimates in the EU after the Great Recession

Dovern, Jonas - 2019

labor, and trend total-factor productivity (TFP). Initially, trend TFP revisions contribute most to the overall PO revisions …

Persistent link: https://www.econbiz.de/10012866365

Systemic Risk and the Great Depression

Das, Sanjiv R. - 2019

We employ a unique hand-collected dataset and a novel methodology to examine systemic risk before and after the largest U.S. banking crisis of the 20th century. Our systemic risk measure captures both the credit risk of an individual bank as well as a bank’s position in the network. We...

Persistent link: https://www.econbiz.de/10012892160

Switching-Track after the Great Recession

Vinci, Francesca; Licandro, Omar - 2021

We propose a theoretical framework to reconcile episodes of V-shaped and L-shaped recovery, encompassing the behaviour of the U.S. economy before and after the Great Recession. In a DSGE model with endogenous growth, negative demand shocks destroy productive capacity, moving GDP to a lower...

Persistent link: https://www.econbiz.de/10013224093

Drivers of Large Recessions and Monetary Policy Responses

Melina, Giovanni; Villa, Stefania - 2023

Shocks to capital utilization are introduced in a structural macroeconomic closed-economy model with financial frictions to capture disruptions on the ability of the capital stock to provide capital services used in production. Estimates for the Euro Area and the United States show that these...

Persistent link: https://www.econbiz.de/10014345602

Uncertainty Shocks and Financial Crisis Indicators

Hristov, Nikolay - 2019

The current paper broadens the understanding of the role played by uncertainty in the context of macroeconomic fluctuations. It focuses on the implications of uncertainty shocks for indicators that tend to precede financial crises. In an empirical analysis we show for a set of four euro area...

Persistent link: https://www.econbiz.de/10012861435

Is the German Mittelstand More Resistant to Crises? Empirical Evidence from the Great Recession

Berlemann, Michael; Jahn, Vera; Lehmann, Robert - 2021

Germany’s comparatively good economic performance throughout the Great Recession of the years 2008/2009 is often attributed to the business model of the German Mittelstand firm. Somewhat surprisingly, this claim has never been backed by empirical evidence. In this paper we use micro panel data...

Persistent link: https://www.econbiz.de/10013314765

Migrants and Firms : Evidence from China

Imbert, Clément - 2019

price shocks. Following a migrant inflow, labor costs decline and employment expands. Labor productivity decreases sharply … migration mostly benefits low- productivity firms within locations. As migrants select into high-productivity destinations …, migration however strongly contributes to the equalization of factor productivity across locations …

Persistent link: https://www.econbiz.de/10012892144

Population Aging, Retirement, and Aggregate Productivity

Gründler, Klaus; Potrafke, Niklas - 2023

suggests a negative effect on total factor productivity. Using newly collected longitudinal data on pensioners, we quantify … pensioner-worker ratio decreases factor productivity by 5-6%. The effect is stronger when production is labor intensive and …

Persistent link: https://www.econbiz.de/10014345627

Productivity, Place, and Plants : Revisiting the Measurement

Schoefer, Benjamin; Ziv, Oren - 2021

Why do cities differ so much in productivity? We document that most of the measured dispersion in productivity across … US cities is spurious and reflects granularity bias: idiosyncratic heterogeneity in plant-level productivity and size …

Persistent link: https://www.econbiz.de/10013250039

Urbanization, Productivity Differences and Spatial Frictions

Arcalean, Calin - 2019

productivity differences and internal trade frictions. We show that even in the absence of the typical externalities studied in the … relative to that chosen by a planner. In particular, optimal urbanization exceeds decentralized levels when productivity … closer to optimal policies than decentralized allocations whenever productivity differences in non-traded sectors are either …

Persistent link: https://www.econbiz.de/10012871753