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Traders in global markets operate at different local times-of-day. Suboptimal times-of-day may produce sleepiness due to daily variations in sleep/wake patterns and possibly also increased accumulation of hours awake. Global asset markets imply significantly increased heterogeneity in circadian...
Persistent link: https://www.econbiz.de/10012947730
This paper empirically examines the degree of persistence in four precious metal prices (i.e., gold, palladium, platinum, and silver) during the last four U.S. recessions. Unit root tests and fractional integration techniques suggest that gold still is the most prominent safe haven asset within...
Persistent link: https://www.econbiz.de/10014351417
individuals' sleep time exhibits both variability and volatility characterized by stationary autoregressive conditional … young children at home. Volatility is greater among parents with young children, slightly greater among men than women, but … independent of other demographics. A theory of economic incentives to minimize the dispersion of sleep predicts that higher …
Persistent link: https://www.econbiz.de/10014083924
Bubbles are recurrent events, which contribute to both macroeconomic and employment volatility. We introduce stochastic …
Persistent link: https://www.econbiz.de/10012981503
Financial frictions are known to raise the volatility of economies to shocks (e.g. Bernanke andGertler 1989). We follow … this line of research to the labor literature concerned by the volatility of labor market outcomes to productivity shocks … are a good candidate to solve the volatility puzzle and rejoin Pissarides (2009) in arguing that hiring costs must be …
Persistent link: https://www.econbiz.de/10013139045
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
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
This paper shows that the German labor market is more volatile than the US labor market. Specifically, the volatility … vacancies) divided by the volatility of labor productivity is roughly twice as large as in the United States. We derive and …
Persistent link: https://www.econbiz.de/10013155589
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
achieve similar volatility than fully deregulated labor markets. Flexibility at the margin produces a gap in separation costs … de labor market volatility. This increased volatility is partially reverted when limitations in the duration and number … explain the similar volatility observed in many regulated OECD labor markets with flexibility at the margin vis-à-vis the …
Persistent link: https://www.econbiz.de/10013324855