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Decomposing excess returns in stochastic linear models
Lin, Carl - 2011
We present a theorem helpful in estimating the mean and variance of a linear function with arbitrary multivariate randomness in its coefficients and variables. We derive a generalized decomposition result from two random linear functions in which the result can be applied to most models using...
Persistent link: https://www.econbiz.de/10010286879
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The role of real wage rigidity and labor market frictions for unemployment and inflation dynamics
Christoffel, Kai; Linzert, Tobias - 2005
cycle model. In particular, we analyze the effect of a monetary policy shock and investigate how labor market frictions … persistent movements of aggregate inflation. Moreover, the impact of a monetary policy shock on unemployment and inflation … depends also on labor market fundamentals such as bargaining power and the flows in and out of employment. …
Persistent link: https://www.econbiz.de/10010267287
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Macroeconomic policy and unemployment by economic activity: evidence from Turkey
Berument, Hakan; Dogan, Nukhet; Tansel, Aysit - 2008
that the positive income shock is followed by a decrease in unemployment in all economic activity groups during the initial … periods except the unemployment in the Electricity sector and the Community Services sector. A positive money shock decreases … positive interbank interest rate shock increases the unemployment in all economic activities at the initial levels but derives …
Persistent link: https://www.econbiz.de/10010268812
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Causal effects of monetary shocks: semiparametric conditional independence tests with a multinomial propensity score
Angrist, Joshua D.; Kuersteiner, Guido M. - 2008
Macroeconomists have long been concerned with the causal effects of monetary policy. When the identification of causal effects is based on a selection-on-observables assumption, non-causality amounts to the conditional independence of outcomes and policy changes. This paper develops a...
Persistent link: https://www.econbiz.de/10010270625
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Regional Structural Change and the Effects of Job Loss
Arntz, Melanie; Ivanov, Boris; Pohlan, Laura - 2022
Routine-intensive occupations have been declining in many countries, but how does this affect individual workers’ careers if this decline is particularly severe in their local labor market? This paper uses administrative data from Germany and a matched difference-in-differences approach to...
Persistent link: https://www.econbiz.de/10013351852
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Hate in the Time of COVID-19: Racial Crimes against East Asians
Carr, Joel; James, Jonathan; Clifton-Sprigg, Joanna; … - 2022
national lockdown in the UK. The shock was then lower during lockdown, before increasing again in the summer 2020. We present … important role in the observed hate crime spike. The hate crime shock was also positively correlated with the salience of the …
Persistent link: https://www.econbiz.de/10013470481
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The Multigenerational Impact of Children and Childcare Policies
Karademir, Sencer; Laliberté, Jean-William; Staubli, Stefan - 2023
The disproportionate impact of children on women's earnings constitutes the primary factor contributing to persistent gender inequality in many countries. This paper examines the multigenerational impact of children and whether the public provision of formal childcare lessens the earnings and...
Persistent link: https://www.econbiz.de/10014296638
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How Does Immigration Affect Housing Costs in Switzerland?
Helfer, Fabienne; Grossmann, Volker; Osikominu, Aderonke - 2023
Union (EU), enacted in 2002, as an exogenous shock to immigration. The first approach uses the AFMP reform within an …
Persistent link: https://www.econbiz.de/10014296702
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Family Affair? Long-Term Economic and Mental Effects of Spousal Cancer
Böckerman, Petri; Kortelainen, Mika; Salokangas, Henri; … - 2023
bereavement. Consequently, we argue that the breadwinner status before the health shock is a neglected factor influencing the … response to a health shock. …
Persistent link: https://www.econbiz.de/10014296749
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Disability and Labor Market Performance
Collischon, Matthias; Hiesinger, Karolin; Pohlan, Laura - 2023
This paper analyzes the individual-level effects of disability onset on labor market outcomes using novel administrative data from Germany. Combining propensity score matching techniques with an event-study design, we find lasting negative impacts on employment and wages. One important mechanism...
Persistent link: https://www.econbiz.de/10014296844