Narrow search
Showing 1 - 10 of 143
Cover Image
Big Banks and Macroeconomic Outcomes : Theory and Cross-Country Evidence of Granularity
Bremus, Franziska - 2013
. Using this framework, we show conditions under which idiosyncratic shocks to bank lending can generate aggregate … sector for many countries is indeed granular, as the right tail of the bank size distribution follows a power law. We then … concentration is associated with a positive and significant relationship between bank-level credit growth and aggregate growth of …
Persistent link: https://www.econbiz.de/10013081202
Cover Image
Monetary Policy in a Data-Rich Environment
Bernanke, Ben; Boivin, Jean - 2021
Most empirical analyses of monetary policy have been confined to frameworks in which the Federal Reserve is implicitly assumed to exploit only a limited amount of information, despite the fact that the Fed actively monitors literally thousands of economic time series. This article explores the...
Persistent link: https://www.econbiz.de/10013226548
Cover Image
Implications of Dynamic Factor Models for VAR Analysis
Stock, James H.; Watson, Mark W. - 2022
econometric issues are addressed including estimation of the number of dynamic factors and tests for the factor restrictions …
Persistent link: https://www.econbiz.de/10013322868
Cover Image
Regional Nonadjustment and Fiscal Policy : Lessons for Emu
Obstfeld, Maurice; Peri, Giovanni - 2021
pattern of the United States. In this paper we compare the US with Germany, Italy, the United Kingdom, and also with Canada …
Persistent link: https://www.econbiz.de/10013249688
Cover Image
Conditional PPP and Real Exchange Rate Convergence in the Euro Area
Bergin, Paul R. - 2016
While economic theory highlights the usefulness of flexible exchange rates in promoting adjustment in international relative prices, flexible exchange rates also can be a source of destabilizing shocks. We find that when countries joining the euro currency union abandoned their national exchange...
Persistent link: https://www.econbiz.de/10012998959
Cover Image
Exchange Rates and Local Labor Markets
Goldberg, Linda S.; Tracy, Joseph S. - 2000
We document the consequences of real exchange rate movements for the employment, hours, and hourly earnings of workers in manufacturing industries across individual states. Exchange rates have statistically significant wage and employment implications in these local labor markets. The importance...
Persistent link: https://www.econbiz.de/10014193865
Cover Image
Firm Performance and the Volatility of Worker Earnings
Juhn, Chinhui - 2017
Using linked employer-employee data for the U.S., we examine whether shocks to firm revenues are transmitted to the earnings of continuing employees. While full insurance is rejected, the elasticity of worker earnings with respect to persistent shocks in firm revenues is small and consistent...
Persistent link: https://www.econbiz.de/10012964398
Cover Image
What are the Effects of Fiscal Policy Shocks?
Mountford, Andrew - 2010
We propose and apply a new approach for analyzing the effects of fiscal policy using vector autoregressions. Specifically, we use sign restrictions to identify a government revenue shock as well as a government spending shock, while controlling for a generic business cycle shock and a monetary...
Persistent link: https://www.econbiz.de/10012758030
Cover Image
Trade, Pollution and Mortality in China
Bombardini, Matilde - 2016
Has the expansion in exports affected pollution and health outcomes across different prefectures in China in the two decades between 1990 and 2010? We exploit variation in the initial industrial composition to gauge the effect of export expansion due to the decline in tariffs faced by Chinese...
Persistent link: https://www.econbiz.de/10012979768
Cover Image
External Validity in a Stochastic World
Rosenzweig, Mark R. - 2016
We examine the generalizability of internally valid estimates of causal effects in a fixed population over time when that population is subject to aggregate shocks. This temporal external validity is shown to depend upon the distribution of the aggregate shocks and the interaction between these...
Persistent link: https://www.econbiz.de/10012986284