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Government Deficit Shocks and Okun's Coefficient Volatility : New Insights on the Austerity Versus Growth Debate

Binh Thai Pham - 2019

This paper connects two salient economic features: (i) Fiscal shocks have asymmetric effects across business cycle phases (Gechert et al., 2019); (ii) Okun's coefficient is time varying and may be unstable. The intertwined dynamic behavior of fiscal shocks and unemployment-output trade-offs are...

Persistent link: https://www.econbiz.de/10012864881

The Heterogeneous Response of Real Estate Asset Prices to a Global Shock

Heiniger, Sandro; Koeniger, Winfried; Lechner, Michael - 2022

We estimate the transmission of the pandemic shock in 2020 to prices in the residential and commercial real estate …

Persistent link: https://www.econbiz.de/10014236294

Business Cycle Effects of Credit and Technology Shocks in a DSGE Model with Firm Defaults

Pesaran, M. Hashem - 2011

financial institutions in the transmission of credit and technology shocks to the real economy. A positive credit shock, defined … between loan and deposit rates. The effects of the credit shock tend to be highly persistent even without price rigidities and …

Persistent link: https://www.econbiz.de/10013119292

Mortgage Finance in Central and Eastern Europe : Opportunity or Burden?

Beck, Thorsten - 2010

Household credit, especially for mortgages, has doubled over the past years in the new European Union member countries, raising concerns about the economic and social consequences of household indebtedness in the event of a macroeconomic crisis. Using household survey data for 2005, 2006, and...

Persistent link: https://www.econbiz.de/10013147559

Savings, Asset Holdings, and Temporary Migration

Dustmann, Christian - 2011

This paper analyzes savings and asset holdings of immigrants in relation to their return plans. We argue that savings and asset accumulation may be affected by return plans of immigrants. Further, the way savings and assets are held in the home- and host country may also be related to future...

Persistent link: https://www.econbiz.de/10013129924

Asymmetric Labor Market Institutions in the Emu and the Volatility of Inflation and Unemployment Differentials

Abbritti, Mirko - 2012

volatility of both inflation and unemployment differentials. Finally, we show that it is important to take into account the …

Persistent link: https://www.econbiz.de/10013107467

Man-Cessions, Fiscal Policy, and the Gender Composition of Employment

Bredemeier, Christian - 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/10013024941

Macroeconomic Volatilities and the Labor Market : First Results from the Euro Experiment

Merkl, Christian - 2010

theory. While labor market institutions have a large effect on output volatility, they do not seem to have much of an effect …This paper analyzes the effects of different labor market institutions on inflation and output volatility. The eurozone … could account for volatility differences across member states, but labor market characteristics have remained very diverse …

Persistent link: https://www.econbiz.de/10013143682

Why is Old Workers' Labor Market More Volatile? Unemployment Fluctuations Over the Life-Cycle

Hairault, Jean-Olivier - 2014

Since the last recession, it is usually argued that older workers are less affected by the economic downturn because their unemployment rate rose less than the one of prime-age workers. This view is a myth: older workers are more sensitive to the business cycle. We document volatilities of...

Persistent link: https://www.econbiz.de/10013055568

How Do Stamp Duties Affect the Housing Market?

Davidoff, Ian - 2013

Land transfer taxes are a substantial portion of the cost of moving house in many developed countries. Since stamp duties are endogenous with respect to the house price, we create an instrumental variable that is the stamp duty on a property, given that postcode's starting house price and the...

Persistent link: https://www.econbiz.de/10013079730