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Evolving wage cyclicality in Latin America

Gambetti, Luca; Messina, Julián - 2017

Examines the evolution of the cyclicality of real wages and employment in four Latin American economies: Brazil, Chile, Colombia and Mexico, during the period 1980-2010. Wages are highly pro-cyclical during the 1980s and early 1990s, a period characterized by high inflation. As inflation...

Persistent link: https://www.econbiz.de/10011636567

The German manufacturing sector is a granular economy

Wagner, Joachim - 2011

Using the approach suggested by Gabaix (Econometrica 2011) this paper demonstrates that idiosyncratic shocks in the largest firms are important for an understanding of aggregate volatility in German manufacturing industries. The implications of this finding for theoretical and empirical research...

Persistent link: https://www.econbiz.de/10009519874

Modelling volatilities and conditional correlations in futures markets with a multivariate t distribution

Pesaran, Bahram (contributor); … - 2007

This paper considers a multivariate t version of the Gaussian dynamic conditional correlation (DCC) model proposed by … than by GARCH type volatility estimates. The t-DCC estimation procedure is applied to a portfolio of daily returns on …-DCC specification. The t-DCC model also passes a number of VaR diagnostic tests over an evaluation sample. The estimation results …

Persistent link: https://www.econbiz.de/10003586562

Man-cessions, fiscal policy, and the gender composition of employment

Bredemeier, Christian; Jüßen, Falko; Winkler, Roland - 2015

lead to man-cessions, i.e. employment falls and more strongly so for men. By contrast, an expansionary fiscal shock …

Persistent link: https://www.econbiz.de/10010502790

On the exposure of the BRIC countries to global economic shocks

Belke, Ansgar; Dreger, Christian; Dubova, Irina - 2017

The financial crisis led to a deep recession in many industrial countries. While large emerging countries recovered relatively quickly from the financial crisis, their performance deteriorated in the recent years, despite the modest recovery in advanced economies. The higher divergence of...

Persistent link: https://www.econbiz.de/10011631497

Transmission of US and EU economic policy uncertainty shock to Asian economies in bad and good times

Balcilar, Mehmet; Ozdemir, Zeynel Abidin; Ozdemir, Huseyin - 2020

This study empirically examines the fragility of five major Asian economies (China, Hong Kong, India, Japan, and South Korea) to economic policy uncertainty (EPU) of US and EU, and oil prices in different state of the economies. To investigate these dynamics, we use the relative tail dependence...

Persistent link: https://www.econbiz.de/10012226632

Counteracting unemployment in crises : non-linear effects of short-time work policy

Gehrke, Britta; Hochmuth, Brigitte - 2018

Short-time work is a labor market policy that subsidizes working time reductions among firms in financial difficulty to prevent layoffs. Many OECD countries have used this policy in the Great Recession. This paper shows that the effects of short-time work are strongly time dependent and...

Persistent link: https://www.econbiz.de/10011845664

Infinite dimensional VARs and factor models

Chudik, Alexander (contributor); … - 2007

that this will lead to a dynamic factor model with the dominant unit acting as the factor. The problems of estimation and … documented by Monte Carlo experiments. An empirical application to modelling of real GDP growth and investment-output ratios … dominant effects are found. The results also suggest that increase in investment as a share of GDP predict higher growth rate …

Persistent link: https://www.econbiz.de/10003646695

Cyclical skill-biased technological change

Balleer, Almut; Rens, Thijs van - 2009

technology. Skill-biased technology shocks are associated with increases in the relative price of investment, indicating that …

Persistent link: https://www.econbiz.de/10003863655

The cyclicality of labor market flows : a multiple-shock approach

Hairault, Jean-Olivier; Zhutova, Anastasia - 2014

shock to the profitability of a match (the aggregate shock), a shock specific to the existing jobs (job-specific shock) and … a shock to the efficiency of the matching process (search shock). The two former shocks generate a quite balanced … contribution of the two transition rates to the volatility of unemployment, whereas the search shock implies a disproportionate …

Persistent link: https://www.econbiz.de/10010417964